IL SB2903

Creates the Illinois State Fairgrounds Foundation as a not-for-profit entity under the Department of Agriculture, authorized by the State Agency Entity Creation Act.

Establishes a 12-member Board of Directors appointed by legislative leaders (2 each from Senate President, Senate Minority Leader, House Speaker, House Minority Leader) and the Governor (4 members), with staggered 2-year and 4-year terms, chaired by the Director of Agriculture.

Authorizes the Foundation to solicit and accept gifts, grants, and donations for charitable, educational, scientific, and agricultural programs, including capital funding for improvements and construction at the Illinois State Fairgrounds in Springfield and DuQuoin.

Designates Foundation funds as private funds held outside the State Treasury and exempt from the Public Funds Investment Act, with accounts maintained per Auditor General approval and subject to financial and compliance audits.

Requires the Foundation to be treated as a public body under the Prevailing Wage Act, making any Foundation-funded projects subject to prevailing wage requirements.