IL SB2040

Reduces the review period for contract extensions and renewals from 30 to 14 calendar days when the Procurement Policy Board considers proposed extensions or renewals exceeding $249,999.

Allows the Department of Innovation and Technology to lease dark fiber networks for up to 20 years for providing services to state constitutional offices, state agencies, or anchor institutions as defined in the Illinois Century Network Act.

Defines "dark fiber network" as unused fiber optic cables laid by a third party that are leased for use as network infrastructure.

Requires dark fiber network lease contracts to comply with all other provisions of the Illinois Procurement Code, including publication of solicitations, use of standard state contracting terms, and vendor certification approvals.

Maintains existing contract duration limits of 10 years for most state contracts, with exceptions for real property leases, energy conservation contracts, and bond or mortgage insurance contracts based on the underlying asset duration.