IL HB3550

Amends the Illinois Procurement Code to require construction agencies to provide a 4% bid preference to responsive and responsible Illinois businesses on construction projects exceeding the small purchase maximum.

Defines "Illinois business" as a contractor operating and headquartered in Illinois providing construction services, organized as a sole proprietorship, corporation, partnership, limited partnership, LLC, or professional LLC, but excludes subcontractors.

Allocates contracts to the lowest bid submitted by an Illinois business that is both responsible and responsive, but only applies when a non-Illinois business has also submitted a bid.

Requires construction agencies to submit annual reports by September 1 detailing Illinois businesses procured, project locations, utilization percentages, and efforts to increase use of Illinois businesses.

Exempts contracts involving federal funding from these requirements when the bid preference would conflict with federal law or regulations.