Bill Status of SB2450 102nd General Assembly
Short Description: HWY CD-IDOT-LAND CONVEYANCE
Sen. Ram Villivalam
| 4/16/2021||Senate||Rule 3-9(a) / Re-referred to Assignments|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Highway Code. Allows the Department of Transportation to sell land, dedications, easements, access rights, or any interest in the real estate that it holds, or other properties acquired but no longer needed for highway purposes for fair market value (rather than for less than the appraised value). Provides that the fair market value may be based on one or more appraisals. Provides that the Department shall justify a sale below the fair market value. Provides that the Department shall develop a policy to assign a monetary value of all considerations. Provides for the order of priority in which the Department shall offer the real property. Makes other changes.