SB1217 97TH GENERAL ASSEMBLY

LRB097 06253 PJG 46329 b

97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
SB1217

Introduced 2/8/2011, by Sen. Martin A. Sandoval

SYNOPSIS AS INTRODUCED:

15 ILCS 505/16.2 new

Amends the State Treasurer Act. Provides that the Treasurer shall establish and administer a program to issue construction bonds for all State construction contracts entered into by a minority owned business, female owned business, or business owned by a person with a disability. Provides that the Treasurer shall adopt rules for the efficient administration of the program.

FISCAL NOTE ACT MAY APPLY

A BILL FOR

AN ACT concerning State government.

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

Section 5. The State Treasurer Act is amended by adding Section 16.2 as follows:

(15 ILCS 505/16.2 new)

Sec. 16.2. Construction bonds for minority owned businesses, female owned businesses, and businesses owned by a person with a disability. The State Treasurer shall establish and administer a program to provide for the issuance of construction bonds for all State construction contracts entered into by a certified minority owned business, female owned business, or business owned by a person with a disability, as defined in the Business Enterprise for Minorities, Females, and Persons with Disabilities Act. The Treasurer shall adopt rules for the efficient administration of the program.