IL HB4990

Creates the Illinois State Fairgrounds Foundation as a not-for-profit foundation under the Department of Agriculture authority, with a 12-member Board of Directors appointed by legislative leaders and the Governor.

Authorizes the Foundation to solicit and accept gifts, grants, and bequests to support charitable, educational, scientific, and agricultural programs at the Illinois State Fair and for improvement, maintenance, and construction of facilities at the Springfield and DuQuoin fairgrounds.

Exempts Foundation procurement from the Illinois Procurement Code when only private funds are used, and exempts private funds from the Public Funds Investment Act, requiring written notice to donors of these exemptions.

Designates the Foundation as a public body under the Prevailing Wage Act, making any Foundation-funded projects (including infrastructure improvements) subject to prevailing wage requirements.

Requires Foundation accounts to be audited by the Auditor General and maintained outside the State treasury, with the Director of Agriculture serving as Board chair.