|SB2362 Engrossed||LRB100 17930 RJF 33114 b|
AN ACT concerning government.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
The Illinois Procurement Code is amended by
changing Section 40-25 as follows:
(30 ILCS 500/40-25)
Length of leases.
(a) Maximum term.
Except as otherwise provided under
subsection (a-5), leases
shall be for a term not to
10 years inclusive, beginning January, 1, 2010, of
proposed contract renewals and shall include
option in favor of the State after 5 years. The length of
energy conservation program contracts or energy savings
contracts or leases shall be in accordance with the provisions
of Section 25-45.
(a-5) Any lease for real property to be used by the
University of Illinois at Chicago for clinical services,
ambulatory surgical services, and retail space may exceed 10
years in length, but may not exceed 30 years in length,
provided: (1) the lease requires the lessor to make capital
improvements in excess of $100,000; and (2) the Board of
Trustees of the University of Illinois determines a term of
more than 10 years is necessary and is in the best interest of