Public Act 101-0213
HB0359 EnrolledLRB101 05161 RJF 50173 b

    AN ACT concerning finance.
    Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
    Section 5. The State Property Control Act is amended by
adding Section 7.7 as follows:
    (30 ILCS 605/7.7 new)
    Sec. 7.7. Public university surplus real estate.
    (a) Notwithstanding any other provision of this Act or any
other law to the contrary, the Board of Trustees of any public
institution of higher education in this State, as defined in
subsection (d), is authorized to dispose of surplus real estate
of that public institution of higher education as provided
under subsection (b).
    (b) The Board of Trustees of any public institution of
higher education in this State may sell, lease, or otherwise
transfer and convey all or part of real estate deemed by the
Board to be surplus real estate, together with the improvements
situated thereon, to a bona fide purchaser for value and on
such terms as the Board shall determine are in the best
interests of that public institution of higher education and
consistent with that institution's objects and purposes.
    (c) A Board of Trustees disposing of surplus real estate
may retain the proceeds from the sale, lease, or other transfer
of all or any part of the real estate deemed surplus real
estate under subsection (b), including the improvements
situated thereon, in a separate account in the treasury of the
public institution of higher education for the purpose of
deferred maintenance and emergency repair of institution
property. The Auditor General shall examine the separate
account to ensure the use or deposit of the proceeds authorized
under this subsection (c) in a manner consistent with the
stated purpose.
    (d) For the purposes of this Section, "public institution
of higher education" or "institution" means the University of
Illinois; Southern Illinois University; Chicago State
University; Eastern Illinois University; Governors State
University; Illinois State University; Northeastern Illinois
University; Northern Illinois University; Western Illinois
University; and any other public universities, now or hereafter
established or authorized by the General Assembly.
    Section 99. Effective date. This Act takes effect upon
becoming law.

Effective Date: 8/7/2019