093_HB2766

 
                                     LRB093 09559 JAM 09797 b

 1        AN ACT concerning procurement.

 2        Be  it  enacted  by  the People of the State of Illinois,
 3    represented in the General Assembly:

 4        Section 5.  The Illinois Procurement Code is  amended  by
 5    changing Section 40-25 as follows:

 6        (30 ILCS 500/40-25)
 7        Sec. 40-25.  Length of leases.
 8        (a)  Maximum  term.   Leases  shall  be for a term not to
 9    exceed 10 years and shall include  a  termination  option  in
10    favor of the State after 5 years.
11        (b)  Renewal.   Leases  may include a renewal option.  An
12    option to renew may  be  exercised  only  (i)  when  a  State
13    purchasing  officer  determines in writing that renewal is in
14    the best interest of the State and (ii) upon approval of  the
15    Procurement  Policy  Board.  The Board's considerations shall
16    include, but are not limited to, whether the  lease  contains
17    an  option  for  the State's purchase of property it occupies
18    100%. Notice of  the  exercise  of  the  option  must  be  is
19    published  in  the  appropriate  volume  of  the  Procurement
20    Bulletin  at  least  60  days  prior  to  the exercise of the
21    option.
22        (c)  Subject to appropriation.  All leases  shall  recite
23    that  they are subject to termination and cancellation in any
24    year  for  which  the  General  Assembly  fails  to  make  an
25    appropriation to make payments under the terms of the lease.
26    (Source: P.A. 90-572, eff. date - See Sec. 99-5.)