PROCUREMENT-LENGTH OF LEASES Senate SponsorsSen. Don Harmon 1/10/2023SenateSession Sine Die 30 ILCS 500/40-25Amends the Illinois Procurement Code. Provides that the Board of Trustees of a public institution of higher education may enter into a lease for real property for a term in excess of 10 years, but not exceeding the useful life of the real property, upon a determination by the Board of Trustees that a lease term in excess of 10 years is necessary and in the best interest of the public institution of higher education. Provides that in connection with the financing or refinancing of any capital improvements, the Board of Trustees of a public institution of higher education may enter into any financing agreement for a term in excess of 10 years, but not exceeding the useful life of the improvements, upon a determination by the Board of Trustees that a term in excess of 10 years is necessary and in the best interest of the public institution of higher education. Removes provisions concerning a lease for real property owned by the University of Illinois to be used for specified purposes. 1/21/2022SenateFiled with Secretary by Sen. Antonio Muņoz 1/21/2022SenateFirst Reading 1/21/2022SenateReferred to Assignments 2/1/2022SenateAssigned to Executive 2/7/2022SenateTo Executive- Procurement 2/10/2022SenateRule 3-9(a) / Re-referred to Assignments 10/21/2022SenateChief Sponsor Changed to Sen. Don Harmon 1/10/2023SenateSession Sine Die