Illinois General Assembly - Bill Status for SB1621

Amends the Illinois Procurement Code. Permits a State agency to renew or extend a lease of real property or capital improvements without using the request for information selection process if it is in the State's best interest and the Procurement Policy Board does not object (now, permitted only for renewal or extension of leases in effect before July 1, 2002). Effective July 1, 2007.

Replaces everything after the enacting clause. Amends the Illinois Procurement Code. Requires that bids, offers, and proposals for State contracts, other than small purchases, disclose whether or not the bidder, offeror, or proposing entity within the previous 24 months had business operations that involved contracts with or provision of supplies or services to the Government of Iran, companies in which the Government of Iran has any direct or indirect equity share, consortiums or projects commissioned by the Government of Iran, or companies involved in consortiums or projects commissioned by the Government of Iran and meets other specified criteria. Requires that the names of entities so disclosed be provided to the State Comptroller, who must post them on his or her official website. Amends the Illinois Pension Code. Requires each of the 5 State-funded retirement systems to make its best efforts to identify all scrutinized companies (companies with certain dealings with Iran) in which the retirement system has direct or indirect holdings or could possibly have such holdings in the future and assemble all scrutinized companies identified into a scrutinized companies list. Sets forth procedures for dealing with companies on the scrutinized companies list, which may include the sale, redemption, divestment, or withdrawal from all publicly traded securities of the company. Requires filing the list and annual reports concerning the dealings with these companies. Provides for expiration of the provisions amending the Illinois Pension Code. Contains a severability clause in the provisions amending the Illinois Pension Code. Effective immediately.

Makes changes in the definitions of "business operations", "mineral-extraction activities", and "oil-related activities" in both the Illinois Procurement Code and the Illinois Pension Code. Makes changes as to the types of companies for which disclosures have to be made under the Illinois Procurement Code and to the definition of "scrutinized company" in the Illinois Pension Code. In the Illinois Pension Code provisions, (i) adds a definition for "scrutinized business operations"; (ii) makes changes in what the efforts to identify scrutinized companies in which the retirement system has direct or indirect holdings shall include; (iii) requires the retirement system to update the scrutinized company list annually, rather than quarterly; and (iv) makes changes in provisions concerning ceasing divestiture. Makes other changes. Changes the effective date from "upon becoming law" to January 1, 2008.

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