IL HB5107

Amends the Illinois Procurement Code to include "performance contracting" in the definition of "contract" under state agreements.

Limits performance contracts that guarantee energy or operational cost savings to a maximum term of 20 years, effective July 1, 2012.

Caps installment payment performance contracts and performance-based lease purchase agreements that guarantee energy or operational cost savings at 20 years maximum term.

Maintains the existing 10-year maximum for general state contracts, with exceptions for certain financing arrangements and Illinois Housing Development Authority bond or mortgage insurance contracts.

Takes effect immediately upon becoming law.