Synopsis As Introduced Creates the Illinois College Procurement Reform Act. Allows the governing body of a public university to provide by resolution that the Illinois Procurement Code does not apply to the university as provided in the Illinois Procurement Code. Provides that the Board of Higher Education shall administer the Act and may adopt any rules necessary to implement and administer the Act. Amends the Illinois Procurement Code to provide that "State agency" does not apply to those public universities whose governing bodies have adopted a resolution under the Act. Provides that such universities shall procure their needs in a manner substantially in accordance with the requirements of the Code with respect to emerging businesses.