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90_HB3459
New Act
Creates the Transportation and Toll Highway Property
Transaction Act. Requires the Department of Transportation
and the Illinois State Toll Highway Authority to disclose to
the Department of Central Management Services information
concerning the acquisition of real property using State
moneys, including the identity of the owners, the fair market
value, the purchase price, the bidding method, and the State
use. Requires that the price at which the Department of
Transportation sells real property to the Toll Highway
Authority be within 5% of its fair market value. Requires
that the fair market values of real properties exchanged by
the Department and the Authority be within 5% of each other.
LRB9011048JMcd
LRB9011048JMcd
1 AN ACT concerning property transactions of and between
2 the Department of Transportation and the Illinois State Toll
3 Highway Authority.
4 Be it enacted by the People of the State of Illinois,
5 represented in the General Assembly:
6 Section 1. Short title. This Act may be cited as the
7 Transportation and Toll Highway Property Transaction Act.
8 Section 5. Definitions. As used in this Act, unless the
9 context requires otherwise:
10 "Authority" means the Illinois State Toll Highway
11 Authority.
12 "Department" means the Department of Transportation.
13 Section 10. Acquisition disclosure.
14 (a) The Department shall disclose to the Department of
15 Central Management Services all acquisitions of real property
16 purchased on or after the effective date of this Act with
17 State moneys, in whole or in part.
18 (b) The Authority shall disclose to the Department of
19 Central Management Services all acquisitions of real property
20 purchased on or after the effective date of this Act with
21 State moneys, in whole or in part.
22 (c) The Authority shall disclose to the Department of
23 Central Management Services the acquisition of real property
24 related to the I-355 Corridor Extension for the route south
25 of I-355 from I-55 to I-80 and from I-80 to I-57, purchased
26 in whole or in part with State moneys, whether purchased
27 before, on, or after the effective date of this Act.
28 Section 15. Form of acquisition disclosure. The
29 disclosure required under Section 10 shall be filed with the
-2- LRB9011048JMcd
1 property control division of the Department of Central
2 Management Services in a form and manner prescribed by the
3 Department of Central Management Services.
4 The disclosure shall include, but need not be limited to,
5 the following:
6 (1) the names of the owners from whom the property
7 was purchased, including individuals and land trusts as
8 defined in the Land Trust Beneficial Interest Disclosure
9 Act, and the name and address of each beneficiary of any
10 such land trust owner;
11 (2) the fair market value of the property before
12 the sale;
13 (3) the purchase price;
14 (4) the bidding procedures used; and
15 (5) the intended State use or purpose of the
16 property.
17 Section 20. Department sale to Authority; fair market
18 value. The price at which the Department sells any real
19 property to the Authority must be within at least 5% of the
20 fair market value of that property.
21 Section 25. Department and Authority transfers. The
22 fair market value of real property transferred between the
23 Department and the Authority must be within at least 5% of
24 the fair market value of real property transferred in
25 exchange between the Department and the Authority.
26 Section 30. Construction of Act. The requirements of
27 this Act are in addition to, and not in substitution for, any
28 other requirements imposed by law upon real property
29 transactions of the Department and Authority.