IL HB2073

Amends the Park District Code to allow park districts to lease property not required for park purposes to individuals or entities for up to 4 and one-half times the term provided in Section 8-15 (increased from 2 times).

Requires park districts serving municipalities with over 40,000 inhabitants in counties with over 260,000 inhabitants bordering the Mississippi River to hold public meetings and obtain majority board approval before selling property to not-for-profit corporations for youth park and recreational programs.

Establishes that property sold to not-for-profit corporations for youth programs reverts to the park district if the corporation breaches the use condition, except for temporary suspensions due to construction improvements.

Restricts park districts with 3,000 or fewer residents from transferring more than 70% of total property to private entities with substantially altered use unless following procedures outlined in Sections 10-7a through 10-7c.

Takes effect upon becoming law.