IL HB5360

Amends Section 40-46 of the Illinois Procurement Code to exempt certain university leases from procurement article provisions.

Exempts leases entered into by governing boards of nine Illinois public universities (University of Illinois, Southern Illinois University, Illinois State University, Eastern Illinois University, Northern Illinois University, Western Illinois University, Chicago State University, Governors State University, and Northeastern Illinois University) from procurement requirements.

Applies exemption only to leases connected with financing of buildings, structures, or facilities through Illinois Finance Authority bond issuance that are required by or necessary for university use or benefit.

Takes effect immediately upon becoming law.