Bill Text: IL SB3296 | 2011-2012 | 97th General Assembly | Engrossed
Bill Title: Amends the Illinois Procurement Code. Makes a technical change in a Section concerning concessions and leases of State property.
Spectrum: Partisan Bill (Democrat 3-0)
Status: (Failed) 2013-01-08 - Session Sine Die [SB3296 Detail]
Download: Illinois-2011-SB3296-Engrossed.html
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1 | AN ACT concerning finance.
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2 | Be it enacted by the People of the State of Illinois, | ||||||
3 | represented in the General Assembly:
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4 | Section 5. The Illinois Procurement Code is amended by | ||||||
5 | adding Section 40-60 as follows:
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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 | ||||||
9 | or proposing a lease to own contract with a scheduled transfer | ||||||
10 | of ownership of real property to the State of Illinois, and | ||||||
11 | (ii) proposing that the cost of a third party management | ||||||
12 | contract will be paid by the State in addition to the lease | ||||||
13 | rent or lease to own payment shall, at the time of proposal to | ||||||
14 | the 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; |
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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.
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7 | Section 99. Effective date. This Act takes effect January | ||||||
8 | 1, 2013.
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