IL SB2903

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

Foundation purposes include promoting agricultural and educational programs at Illinois State Fairgrounds (Springfield and DuQuoin), accepting gifts and grants, and funding infrastructure improvements, maintenance, and construction projects.

Private funds collected by the Foundation are exempt from the Public Funds Investment Act and the Illinois Procurement Code, allowing more flexible procurement when only private funds are used.

Foundation must provide written notice to donors that it is not subject to Public Funds Investment Act restrictions on securities investments.

Foundation is classified as a public body under the Prevailing Wage Act, requiring prevailing wage standards for any infrastructure projects it funds in whole or in part.