Illinois Compiled Statutes
ILCS Listing
Public
Acts Search
Guide
Disclaimer
Information maintained by the Legislative
Reference Bureau
Updating the database of the Illinois Compiled Statutes (ILCS) is an ongoing process.
Recent laws may not yet be included in the ILCS database, but they are found on this site as Public
Acts soon after they become law. For information concerning the relationship between statutes and Public Acts, refer to the
Guide.
Because the statute database is maintained primarily for legislative drafting purposes,
statutory changes are sometimes included in the statute database before they take effect.
If the source note at the end of a Section of the statutes includes a Public Act that has
not yet taken effect, the version of the law that is currently in effect may have already
been removed from the database and you should refer to that Public Act to see the changes
made to the current law.
20 ILCS 2705/2705-555
(20 ILCS 2705/2705-555) (was 20 ILCS 2705/49.13)
Sec. 2705-555. Lease of land or property.
(a) The Department has the power from
time to time to lease any land or property, with or without
appurtenances, of which the Department has jurisdiction and that is not
immediately to be used or developed by the State; provided that no such
lease be for a longer period of time than that in which it can reasonably
be expected the State will not have use for the property, and
further
provided that no such lease be for a longer period of time than 5 years,
except as provided in subsection (b).
(b) In counties with a population of not less than 500,000 and not more
than 800,000, a lease
to any other
department of State
government, any authority, commission, or agency of the State, or a
municipality, county, or township of the State, including in any land lease the
corresponding vertical rights, subterranean and air rights, and sublease
rights,
may be for a period of time no longer than 25 years.
(c) In counties with a population of not less than 3,000,000, a lease initially entered into within one year after the effective date of this amendatory Act of the 93rd General Assembly, including in any land lease the corresponding vertical rights, subterranean and air rights, and sublease rights, may be for a period of time no longer than 35 years. The land or property shall be leased by the Department at fair market value.
(Source: P.A. 93-1100, eff. 3-31-05.)
|
|