Illinois General Assembly - Bill Status for SB3829
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 Bill Status of SB3829  102nd General Assembly


Short Description:  PROCUREMENT-LENGTH OF LEASES

Senate Sponsors
Sen. Antonio Muñoz

Last Action
DateChamber Action
  2/10/2022SenateRule 3-9(a) / Re-referred to Assignments

Statutes Amended In Order of Appearance
30 ILCS 500/40-25


Synopsis As Introduced
Amends the Illinois Procurement Code. Provides that the Board of Trustees of a public institution of higher education may enter into a lease for real property for a term in excess of 10 years, but not exceeding the useful life of the real property, upon a determination by the Board of Trustees that a lease term in excess of 10 years is necessary and in the best interest of the public institution of higher education. Provides that in connection with the financing or refinancing of any capital improvements, the Board of Trustees of a public institution of higher education may enter into any financing agreement for a term in excess of 10 years, but not exceeding the useful life of the improvements, upon a determination by the Board of Trustees that a term in excess of 10 years is necessary and in the best interest of the public institution of higher education. Removes provisions concerning a lease for real property owned by the University of Illinois to be used for specified purposes.

Actions 
DateChamber Action
  1/21/2022SenateFiled with Secretary by Sen. Antonio Muñoz
  1/21/2022SenateFirst Reading
  1/21/2022SenateReferred to Assignments
  2/1/2022SenateAssigned to Executive
  2/7/2022SenateTo Executive- Procurement
  2/10/2022SenateRule 3-9(a) / Re-referred to Assignments

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