summary
Introduced
02/07/2025
02/07/2025
In Committee
04/11/2025
04/11/2025
Crossed Over
Passed
Dead
Introduced Session
104th General Assembly
Bill Summary
Amends the State Finance Act. Provides that, for construction contracts procured by the Department of Transportation, a requirement that a contract, a contract renewal, an order against a master contract, or an amendment to an existing contract requires the signature of the chief executive officer of the agency, the chief legal counsel of the agency, and the chief fiscal officer of the agency applies only if the contract is in the amount of $750,000 or more or is increased to or by $750,000 or more in a fiscal year. Provides that the Department of Transportation may, by rule, adjust that applicable monetary threshold on a yearly basis to reflect inflationary costs in highway construction. Effective immediately.
AI Summary
This bill amends the State Finance Act to modify signature requirements for construction contracts procured by the Department of Transportation. Specifically, the bill changes the threshold for requiring signatures from the chief executive officer, chief legal counsel, and chief fiscal officer of an agency from $250,000 to $750,000. For the Department of Transportation, contracts, contract renewals, master contract orders, or contract amendments that reach or exceed $750,000 in a fiscal year will now require these three signatures. The bill also gives the Department of Transportation the ability to adjust this monetary threshold annually to account for inflation in highway construction costs, using indices like the National Highway Construction Cost Index. The goal is to streamline administrative processes for smaller contracts while maintaining oversight for larger financial commitments. The bill will take effect immediately upon becoming law, potentially reducing bureaucratic burden for smaller transportation contracts while preserving signature requirements for more significant financial transactions.
Committee Categories
Government Affairs
Sponsors (3)
Last Action
Rule 3-9(a) / Re-referred to Assignments (on 04/11/2025)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2317&GAID=18&DocTypeID=SB&SessionID=114&GA=104 |
| BillText | https://www.ilga.gov/legislation/104/SB/10400SB2317.htm |
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