Bill Status of SB1770 97th General Assembly
Short Description: PROCUREMENT-DISCLOSE FINANCE
Sen. A. J. Wilhelmi and Kirk W. Dillard
| 1/8/2013||Senate||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Procurement Code. Provides that, for contracts with the State, a privately held entity that is exempt from Federal 10k reporting but has more than 200 (now, 400) shareholders may, in place of the prescribed disclosures, submit the information that Federal 10k reporting companies are required to report under federal regulations and list the names of any person or entity holding any ownership share greater than 5%. Effective immediately.