IL SB3860

Amends the Invest in Illinois Act to require the Department to notify the Minority Leader of the Senate and Minority Leader of the House of Representatives when economic development awards are nearing final negotiation with applicants.

Grants minority legislative leaders (or their designees) the authority to object to agreements under the Act, matching powers currently held by the Senate President and House Speaker.

Agreements under the Act cannot take effect and no funds may be expended if any of the four legislative leaders submits a written objection within 2 days of notification.

Requires copies of executed agreements with different award amounts than originally notified to be delivered to all four legislative leaders within 2 days.

Takes effect immediately upon becoming law.