Illinois SB 2298: PROCUREMENT-DISCLOSURE

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104TH GENERAL ASSEMBLY 
State of Illinois 
2025 and 2026
SB2298

Introduced 2/7/2025, by Sen. Cristina Castro 

SYNOPSIS AS INTRODUCED:

30 ILCS 500/50-35

 Amends the Illinois Procurement Code. Removes references to the Commission on Equity and Inclusion from provisions concerning financial disclosures.

LRB104 10185 HLH 20257 b

A BILL FOR

SB2298LRB104 10185 HLH 20257 b

1 AN ACT concerning finance.

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

3represented in the General Assembly:

4 Section 5. The Illinois Procurement Code is amended by 

5changing Section 50-35 as follows:

6 (30 ILCS 500/50-35)

7 Sec. 50-35. Financial disclosure and potential conflicts 

8of interest. 

9 (a) All bids and offers from responsive bidders, offerors, 

10vendors, or contractors with an annual value that exceeds the 

11small purchase threshold established under subsection (a) of 

12Section 20-20 of this Code, and all submissions to a vendor 

13portal, shall be accompanied by disclosure of the financial 

14interests of the bidder, offeror, potential contractor, or 

15contractor and each subcontractor to be used. In addition, all 

16subcontracts identified as provided by Section 20-120 of this 

17Code with an annual value that exceeds the small purchase 

18threshold established under subsection (a) of Section 20-20 of 

19this Code shall be accompanied by disclosure of the financial 

20interests of each subcontractor. The financial disclosure of 

21each successful bidder, offeror, potential contractor, or 

22contractor and its subcontractors shall be incorporated as a 

23material term of the contract and shall become part of the 

SB2298- 2 -LRB104 10185 HLH 20257 b

1publicly available contract or procurement file maintain