Illinois General Assembly - Illinois Compiled Statutes

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30 ILCS 500/53-10

(30 ILCS 500/53-10)

Sec. 53-10. Concessions and leases of State property and no-cost contracts.

(a) Except for property under the jurisdiction of a public institution of
higher education, concessions, including the assignment, license, sale, or
transfer of
interests in or rights to discoveries, inventions, patents, or copyrightable
works, may be entered into by the State agency with jurisdiction over the
property, whether tangible or intangible.

(b) Except for property under the jurisdiction of a public institution of
higher education, all leases of State property and concessions shall be reduced to writing and shall be
awarded under
the provisions of Article 20, except that the contract shall be awarded to the
highest bidder or best bidder or offeror when the State receives a lease payment, a percentage of sales from the lessee, or in-kind support from the lessee based on the return to the State.

(c) Except for property under the jurisdiction of a public institution of higher education, all no-cost procurements shall be reduced to writing and shall be awarded under the provisions of Article 20 of this Code.  All awards of no-cost procurements shall identify the estimated business value to the lessee and the value to the State.

(Source: P.A. 100-43, eff. 8-9-17.)