IL HB0352

Redefines "surplus real property" as property the agency head determines is no longer needed for the agency's needs, rather than requiring it be vacant, unoccupied, or unused with no foreseeable use

Creates the Deferred Maintenance Property Fund to receive proceeds from surplus property sales, with funds restricted to property obligations, construction, maintenance, repair, and betterment of State-owned properties

Allows the Administrator to sell surplus property below fair market value with a written determination that it serves the State's best interests, subject to publication in the Illinois Procurement Bulletin and review by the Executive Ethics Commission within 30-60 days

Reduces required appraisals from 3 to 2 for properties valued at $5,000 or more, with a third appraisal required only if the first two differ by more than 15%; appraisals must now include known liabilities such as environmental costs

Streamlines the notice and sale process by shortening the notice period to at least 14 days (from 60 days), allowing electronic auctions and sealed bids, and giving local governments 30 additional days to negotiate after expressing interest in acquiring the property