Illinois General Assembly - Full Text of Public Act 101-0426

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Public Act 101-0426

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Public Act 0426 101ST GENERAL ASSEMBLY

Public Act 101-0426

SB2153 Enrolled LRB101 05490 RJF 50504 b

    AN ACT concerning finance.

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

    Section 5. The Illinois Procurement Code is amended by
changing Section 40-25 as follows:

    (30 ILCS 500/40-25)
    Sec. 40-25. Length of leases.
    (a) Maximum term. Except as otherwise provided under
subsection (a-5), leases shall be for a term not to exceed 10
years inclusive, beginning January, 1, 2010, of proposed
contract renewals and shall include a termination option in
favor of the State after 5 years. The length of energy
conservation program contracts or energy savings contracts or
leases shall be in accordance with the provisions of Section
25-45.
    (a-5) Extended term. A lease for real property owned by the
University of Illinois to be used by the University of Illinois
at Chicago for an ambulatory surgical center, which would
include both clinical services and retail space, may exceed 10
years in length where: (i) the lease requires the lessor to
make capital improvements in excess of $100,000; and (ii) the
Board of Trustees of the University of Illinois determines a
term of more than 10 years is necessary and is in the best
interest of the University. A lease under this subsection (a-5)
may not exceed 30 years in length.
    (b) Renewal. Leases may include a renewal option. An option
to renew may be exercised only when a State purchasing officer
determines in writing that renewal is in the best interest of
the State and notice of the exercise of the option is published
in the appropriate volume of the Procurement Bulletin at least
30 ~~60~~calendar days prior to the exercise of the option.
    (c) Subject to appropriation. All leases shall recite that
they are subject to termination and cancellation in any year
for which the General Assembly fails to make an appropriation
to make payments under the terms of the lease.
    (d) Holdover. Beginning January 1, 2010, no lease may
continue on a month-to-month or other holdover basis for a
total of more than 6 months. Beginning July 1, 2010, the
Comptroller shall withhold payment of leases beyond this
holdover period.
(Source: P.A. 100-23, eff. 7-6-17; 100-1047, eff. 1-1-19.)

Effective Date: 1/1/2020

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