Replaces everything after the enacting clause. Creates the Illinois Health Information Exchange and Technology Act. Creates the Illinois Health Information Exchange Authority as an instrumentality and an administrative agency of the State of Illinois. Provides for an Illinois Health Information Exchange (ILHIE) to (i) promote and facilitate the sharing of health information among health care providers within Illinois and in other states and (ii) foster the widespread adoption of electronic health records. Provides for an advisory committee. Sets forth the Authority's powers, including administration of the ILHIE. Creates the Health Information Exchange Fund as a separate fund outside the State treasury whose funds are not subject to appropriation by the General Assembly, for the purpose of funding the Authority's operation. Provides that no later than January 1, 2015, each State agency that implements, acquires, or upgrades health information technology systems shall use health information technology systems and products that meet minimum standards adopted by the Authority for accessing the ILHIE. Amends the Regulatory Sunset Act to repeal the Illinois Health Information Exchange and Technology Act on January 1, 2021. Amends the Freedom of Information Act to exempt the following from inspection and copying: all identified or deidentified health information in the form of health data or medical records contained in, stored in, submitted to, transferred by, or released from the Illinois Health Information Exchange, and identified or deidentified health information in the form of health data and medical records of the Illinois Health Information Exchange in the possession of the Illinois Health Information Exchange Authority due to its administration of the Illinois Health Information Exchange. Amends the Illinois Procurement Code to provide that the Code does not apply to procurement expenditures by the Authority. Effective immediately.