Illinois HB 4187: ST TREAS-COLLEGE SAVINGS

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 Full Text of HB4187

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 HB4187 - 104th General Assembly 

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HB4187 EngrossedLRB104 16000 LNS 29249 b

1 AN ACT concerning State government.

2 Be it enacted by the People of the State of Illinois, 

3represented in the General Assembly:

4 Section 5. The Department of Transportation Law of the 

5Civil Administrative Code of Illinois is amended by changing 

6Section 2705-555 as follows:

7 (20 ILCS 2705/2705-555) (was 20 ILCS 2705/49.13)

8 Sec. 2705-555. Lease of land or property. 

9 (a) The Department has the power from time to time to lease 

10any land or property, with or without appurtenances, of which 

11the Department has jurisdiction and that is not immediately to 

12be used or developed by the State; provided that no such lease 

13be for a longer period of time than that in which it can 

14reasonably be expected the State will not have use for the 

15property, and further provided that no such lease be for a 

16longer period of time than 5 years, except as provided in 

17subsections subsection (b), (c), and (d).

18 (b) In counties with a population of not less than 500,000 

19and not more than 800,000, a lease to any other department of 

20State government, any authority, commission, or agency of the 

21State, or a municipality, county, or township of the State, 

22including in any land lease the corresponding vertical rights, 

23subterranean and air rights, and sublease rights, may be for a 

HB4187 Engrossed- 2 -LRB104 16000 LNS 29249 b

1period of time no longer than 25 years.

2 (c) In counties with a population of not less than 

33,000,000, a lease initially entered into within one year 

4after the effective date of this amendatory Act of the 93rd 

5General Assembly, including in any land lease the 

6corresponding vertical rights, su