Bill Text: IL HB0359 | 2019-2020 | 101st General Assembly | Chaptered
Bill Title: Amends the State Property Control Act. Provides that the Board of Trustees of any public institution of higher education in this State is authorized to dispose of surplus real estate of that public institution of higher education. Specifies the manner in which a Board of Trustees may dispose of surplus real estate. Provides that a Board of Trustees may retain the proceeds from the sale, lease, or other transfer of all or any part of the real estate deemed surplus real estate in a separate account in the treasury of the institution for the purpose of deferred maintenance and emergency repair of institution property. Requires the Auditor General to examine the separate account to ensure the use or deposit of the proceeds in a manner consistent with the stated purpose. Defines "public institution of higher education". Effective immediately.
Spectrum: Bipartisan Bill
Status: (Passed) 2019-08-07 - Public Act . . . . . . . . . 101-0213 [HB0359 Detail]
Download: Illinois-2019-HB0359-Chaptered.html
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| Public Act 101-0213 | ||||
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AN ACT concerning finance.
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Be it enacted by the People of the State of Illinois,
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represented in the General Assembly:
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Section 5. The State Property Control Act is amended by | ||||
adding Section 7.7 as follows:
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(30 ILCS 605/7.7 new) | ||||
Sec. 7.7. Public university surplus real estate. | ||||
(a) Notwithstanding any other provision of this Act or any | ||||
other law to the contrary, the Board of Trustees of any public | ||||
institution of higher education in this State, as defined in | ||||
subsection (d), is authorized to dispose of surplus real estate | ||||
of that public institution of higher education as provided | ||||
under subsection (b). | ||||
(b) The Board of Trustees of any public institution of | ||||
higher education in this State may sell, lease, or otherwise | ||||
transfer and convey all or part of real estate deemed by the | ||||
Board to be surplus real estate, together with the improvements | ||||
situated thereon, to a bona fide purchaser for value and on | ||||
such terms as the Board shall determine are in the best | ||||
interests of that public institution of higher education and | ||||
consistent with that institution's objects and purposes. | ||||
(c) A Board of Trustees disposing of surplus real estate | ||||
may retain the proceeds from the sale, lease, or other transfer | ||||
of all or any part of the real estate deemed surplus real | ||
estate under subsection (b), including the improvements | ||
situated thereon, in a separate account in the treasury of the | ||
public institution of higher education for the purpose of | ||
deferred maintenance and emergency repair of institution | ||
property. The Auditor General shall examine the separate | ||
account to ensure the use or deposit of the proceeds authorized | ||
under this subsection (c) in a manner consistent with the | ||
stated purpose. | ||
(d) For the purposes of this Section, "public institution | ||
of higher education" or "institution" means the University of | ||
Illinois; Southern Illinois University; Chicago State | ||
University; Eastern Illinois University; Governors State | ||
University; Illinois State University; Northeastern Illinois | ||
University; Northern Illinois University; Western Illinois | ||
University; and any other public universities, now or hereafter | ||
established or authorized by the General Assembly.
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Section 99. Effective date. This Act takes effect upon | ||
becoming law.
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