SB2153 EnrolledLRB101 05490 RJF 50504 b


  
1    AN ACT concerning finance.
  
 
2    Be it enacted by the People of the State of Illinois,
 
3represented in the General Assembly:
  


 
 
4    Section 5. The Illinois Procurement Code is amended  by 
5changing Section 40-25 as follows:
 


6    (30 ILCS 500/40-25)

7    Sec. 40-25. Length of leases. 

8    (a) Maximum term.  Except as otherwise provided under 
9subsection (a-5), leases shall be for a term not to exceed
10 
10years inclusive, beginning January, 1, 2010, of proposed 
11contract renewals and shall include
a termination option in 
12favor of the State after 5 years. The length of energy 
13conservation program contracts or energy savings contracts or 
14leases shall be in accordance with the provisions of Section 
1525-45. 

16    (a-5) Extended term. A lease for real property owned by the 
17University of Illinois to be used by the University of Illinois 
18at Chicago for an ambulatory surgical center, which would 
19include both clinical services and retail space, may exceed 10 
20years in length where: (i) the lease requires the lessor to 
21make capital improvements in excess of $100,000; and (ii) the 
22Board of Trustees of the University of Illinois determines a 
23term of more than 10 years is necessary and is in the best 
 
 
SB2153 Enrolled- 2 -LRB101 05490 RJF 50504 b

1interest of the University. A lease under this subsection (a-5) 
2may not exceed 30 years in length. 
3    (b) Renewal.  Leases may include a renewal option.  An
option 
4to renew may be
exercised only when a State purchasing officer 
5determines in
writing that renewal is in the best
interest of 
6the State and notice of the exercise of the option is published 
7in
the appropriate volume of the Procurement Bulletin at least 
830 60 calendar days prior to
the exercise of the option.

9    (c) Subject to appropriation.  All leases shall recite that

10they are subject to termination
and cancellation in any year 
11for which the General Assembly fails
to make an appropriation 
12to
make payments under the terms of the lease.

13    (d) Holdover. Beginning January 1, 2010, no lease may 
14continue on a month-to-month or other holdover basis for a 
15total of more than 6 months. Beginning July 1, 2010, the 
16Comptroller shall withhold payment of leases beyond this 
17holdover period. 
18(Source: P.A. 100-23, eff. 7-6-17; 100-1047, eff. 1-1-19.)