IL SB3514

Amends the Illinois Medical District Act to designate the Illinois Medical District Commission as a political subdivision and unit of local government.

Expands the Commission's authority to develop facility types including medical research parks, high technology parks, and commercial development areas to generate revenue for operations and cash reserves.

Removes the Commission's obligation to transfer excess revenues to the State Treasury and instead allows it to retain all money from property sales and leases for planning, acquisition, development, and operation of District property.

Requires the Commission to enter into an intergovernmental agreement with the Auditor General for biennial audits, with the Commission reimbursing audit costs and the Auditor General posting results on their website.

Removes the Commission's requirement to comply with the Illinois Purchasing Act when constructing structures and instead requires it to promulgate its own procurement rules.