IL HB2953

Removes the fixed $40,000 threshold for public bidding requirements and replaces it with "the small purchase threshold set by the Federal Transit Administration" for acquisition of services or public transportation facilities by the Metropolitan Transit Authority, Local Mass Transit District, and Regional Transportation Authority.

Adds new requirements that construction, demolition, rehabilitation, renovation, and building maintenance projects costing more than $40,000 must be conducted with public notice and public bidding.

Removes language requiring public bidding for "construction or" acquisition, leaving only "acquisition" language in most provisions while separately addressing construction-related projects.

Maintains existing exceptions for bonds/notes, professional services, utility services, competitive negotiations, and prequalification of bidders consistent with federal regulations.

Effective upon becoming law.