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Public Act 093-1100
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| HB1007 Enrolled |
LRB093 05699 AMC 05792 b |
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AN ACT in relation to executive agencies.
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Be it enacted by the People of the State of Illinois, |
represented in the General Assembly:
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Section 5. The Department of Transportation Law of the
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Civil Administrative Code of Illinois is amended by changing |
Section 2705-555 as follows:
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(20 ILCS 2705/2705-555) (was 20 ILCS 2705/49.13)
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Sec. 2705-555. Lease of land or property.
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(a) The Department has the power from
time to time to lease |
any land or property, with or without
appurtenances, of which |
the Department has jurisdiction and that is not
immediately to |
be used or developed by the State; provided that no such
lease |
be for a longer period of time than that in which it can |
reasonably
be expected the State will not have use for the |
property, and
further
provided that no such lease be for a |
longer period of time than 5 years,
except as provided in |
subsection (b).
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(b) In counties with a population of not less than 500,000 |
and not more
than 800,000, a lease
to any other
department of |
State
government, any authority, commission, or agency of the |
State, or a
municipality, county, or township of the State, |
including in any land lease the
corresponding vertical rights, |
subterranean and air rights, and sublease
rights,
may be for a |
period of time no longer than 25 years.
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(c) In counties with a population of not less than |
3,000,000, a lease initially entered into within one year after |
the effective date of this amendatory Act of the 93rd General |
Assembly, including in any land lease the corresponding |
vertical rights, subterranean and air rights, and sublease |
rights, may be for a period of time no longer than 35 years. |
The land or property shall be leased by the Department at fair |
market value.
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