IL SB1656

Prohibits boards of trustees at public institutions of higher education from entering into severance agreements, contract buyouts, or similar agreements with presidents or chancellors if the agreement requires naming any building, program, road, park, or property after the departing president or chancellor.

Requires community college boards to immediately post any existing severance or buyout agreements from the 2 years before the effective date on their websites for 30 days if they include naming conditions for departing presidents or chancellors.

Allows petitions to be filed during the 30-day posting period by eligible voters representing 5% of the community college district population to void naming agreements.

Applies to community colleges as defined under the Public Community College Act and to public institutions of higher education as defined under the Board of Higher Education Act.

Takes effect immediately upon becoming law.