Public Act 101-0426
 
SB2153 EnrolledLRB101 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.)