SB3296 EngrossedLRB097 20004 PJG 65308 b



1    AN ACT concerning finance.

 
2    Be it enacted by the People of the State of Illinois, 
3represented in the General Assembly: 



 
4    Section 5. The Illinois Procurement Code is amended  by 
5adding Section 40-60 as follows:
 
6    (30 ILCS 500/40-60 new)
7    Sec. 40-60. Third party management. Parties interested in 
8(i) proposing a lease of real property to the State of Illinois 
9or proposing a lease to own contract with a scheduled transfer 
10of ownership of real property to the State of Illinois, and 
11(ii) proposing that the cost of a third party management 
12contract will be paid by the State in addition to the lease 
13rent or lease to own payment shall, at the time of proposal to 
14the State, submit the following information:
15        (1) an identification of any third party manager whom 
16    the lessor or owner intends to rely upon or engage as an 
17    agent for purposes of representing the lessor's or owner's 
18    interests to the State;
19        (2) identification of individuals with any (i) 
20    ownership interest in common with the identified third 
21    party manager or independent ownership interest as both 
22    lessor or owner in the subject real property,  and (ii) 
23    ownership interest in the identified third party manager;
 
 
SB3296 Engrossed- 2 -LRB097 20004 PJG 65308 b

1        (3) a list of all services or representations that the 
2    third party manager will provide on behalf of the lessor or 
3    owner  to the State of Illinois; and
4        (4) an itemized cost schedule for management services 
5    and fees for representation to be paid by the State and to 
6    be included in the contract with the  State.
 

7    Section 99. Effective date. This Act takes effect January 
81, 2013.