Illinois General Assembly - Bill Status for SB2413

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Bill Status of SB2413 93rd General Assembly

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Short Description: PROCUREMENT-EXPATRIATES

Senate Sponsors
Sen. Carol Ronen - Jacqueline Y. Collins

Last Action

Date	Chamber	Action
1/11/2005	Senate	Session Sine Die

Statutes Amended In Order of Appearance

New Act

Synopsis As Introduced
Creates the Expatriate State Contractor Act. Prohibits executive branch State agencies from entering into contracts with expatriate corporations or their subsidiaries. Defines an expatriate corporation as a company that (i) is publicly traded in the U.S., (ii) has incorporated in a foreign tax haven, (iii) is traded primarily in the U.S., (iv) has no substantial business activity in the place of incorporation, and (v) meets other specified criteria. Exempts certain companies that were expatriates before January 1, 2005 and afford specified shareholder rights. Authorizes an agency to waive the prohibition if the contract meets a compelling public interest. Requires that contracts include the vendor's declaration of compliance and makes false declaration a Class A misdemeanor. Effective January 1, 2005.

Actions

Date	Chamber	Action
2/3/2004	Senate	Filed with Secretary by Sen. Carol Ronen
2/3/2004	Senate	First Reading
2/3/2004	Senate	Referred to Rules
2/6/2004	Senate	Added as Chief Co-Sponsor Sen. Jacqueline Y. Collins
1/11/2005	Senate	Session Sine Die

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