Bill Text: IL SB3296 | 2011-2012 | 97th General Assembly | Engrossed

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Bill Title: Amends the Illinois Procurement Code. Makes a technical change in a Section concerning concessions and leases of State property.

Sponsorship: Partisan Bill (Democrat 3)

Status: (Failed) 2013-01-08 - Session Sine Die [SB3296 Detail]

Download: Illinois-2011-SB3296-Engrossed.html

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SB3296 Engrossed LRB097 20004 PJG 65308 b
AN ACT concerning finance.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Illinois Procurement Code is amended by
adding Section 40-60 as follows:
(30 ILCS 500/40-60 new)
Sec. 40-60. Third party management. Parties interested in
(i) proposing a lease of real property to the State of Illinois
or proposing a lease to own contract with a scheduled transfer
of ownership of real property to the State of Illinois, and
(ii) proposing that the cost of a third party management
contract will be paid by the State in addition to the lease
rent or lease to own payment shall, at the time of proposal to
the State, submit the following information:
(1) an identification of any third party manager whom
the lessor or owner intends to rely upon or engage as an
agent for purposes of representing the lessor's or owner's
interests to the State;
(2) identification of individuals with any (i)
ownership interest in common with the identified third
party manager or independent ownership interest as both
lessor or owner in the subject real property, and (ii)
ownership interest in the identified third party manager;

SB3296 Engrossed - 2 - LRB097 20004 PJG 65308 b
(3) a list of all services or representations that the
third party manager will provide on behalf of the lessor or
owner to the State of Illinois; and
(4) an itemized cost schedule for management services
and fees for representation to be paid by the State and to
be included in the contract with the State.
Section 99. Effective date. This Act takes effect January
1, 2013.