HB1201 96TH GENERAL ASSEMBLY

LRB096 09044 JAM 19184 b

96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
HB1201

Introduced 2/11/2009, by Rep. Gary Hannig

SYNOPSIS AS INTRODUCED:

30 ILCS 500/40-25

Amends the Illinois Procurement Code. Prohibits holdover leases of more than 6 months' total duration. Effective July 1, 2009.

A BILL FOR

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 changing Section 40-25 as follows:

(30 ILCS 500/40-25)

Sec. 40-25. Length of leases.

(a) Maximum term. Leases shall be for a term not to exceed 10 years and shall include a termination option in favor of the State after 5 years.

(b) Renewal. Leases may include a renewal option. An option to renew may be exercised only when a State purchasing officer determines in writing that renewal is in the best interest of the State and notice of the exercise of the option is published in the appropriate volume of the Procurement Bulletin at least 60 days prior to the exercise of the option.

(c) Subject to appropriation. All leases shall recite that they are subject to termination and cancellation in any year for which the General Assembly fails to make an appropriation to make payments under the terms of the lease.

(d) Holdover. No lease may continue on a month-to-month or other holdover basis for a total of more than 6 months.

(Source: P.A. 90-572, eff. date - See Sec. 99-5.)

Section 99. Effective date. This Act takes effect July 1, 2009.