STUDENT LAPTOP INITIATIVE

Creates the Illinois Student Laptop Computer Initiative for 21st Century Education Act. Established the Illinois Student Laptop Computer Commission to (i) ensure that every elementary student in the State is given a personal laptop computer by the beginning of the 6th grade year and to make grants to local school districts for various purposes and (ii) publish an annual plan for the purchase and distribution of educational technology. Provides that only certain public schools are eligible for assistance from the Commission. Authorizes the Commission to obtain the services of personnel and to enter into contracts and memoranda of understanding with private parties and with State agencies. Provides that all moneys deposited into the Illinois Student Laptop Computer Fund shall be distributed, subject to appropriation, to the Illinois Student Laptop Commission for the purposes of the Act. Provides that money from both public and private sources may be deposited into the Fund. Amends the State Finance Act. Creates the Illinois Student Laptop Fund, a special fund in the State treasury. Effective January 1, 2005.