104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB0037 Introduced , by Rep. La Shawn K. Ford SYNOPSIS AS INTRODUCED: 70 ILCS 3205/12.2 new Amends the Illinois Sports Facilities Authority Act. Provides that the Illinois Sports Facilities Authority may sell certain specified property. Provides for the disposition of moneys received from the sale. Authorizes the Illinois Sports Facilities Authority to enter into any agreements and execute any documents necessary to arrange for the sale of the property. LRB104 03034 HLH 13052 b A BILL FOR 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB0037 Introduced , by Rep. La Shawn K. Ford SYNOPSIS AS INTRODUCED: 70 ILCS 3205/12.2 new 70 ILCS 3205/12.2 new Amends the Illinois Sports Facilities Authority Act. Provides that the Illinois Sports Facilities Authority may sell certain specified property. Provides for the disposition of moneys received from the sale. Authorizes the Illinois Sports Facilities Authority to enter into any agreements and execute any documents necessary to arrange for the sale of the property. LRB104 03034 HLH 13052 b LRB104 03034 HLH 13052 b A BILL FOR
104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB0037 Introduced , by Rep. La Shawn K. Ford SYNOPSIS AS INTRODUCED:
70 ILCS 3205/12.2 new 70 ILCS 3205/12.2 new
70 ILCS 3205/12.2 new
Amends the Illinois Sports Facilities Authority Act. Provides that the Illinois Sports Facilities Authority may sell certain specified property. Provides for the disposition of moneys received from the sale. Authorizes the Illinois Sports Facilities Authority to enter into any agreements and execute any documents necessary to arrange for the sale of the property.
LRB104 03034 HLH 13052 b LRB104 03034 HLH 13052 b
LRB104 03034 HLH 13052 b
A BILL FOR
HB0037LRB104 03034 HLH 13052 b HB0037 LRB104 03034 HLH 13052 b
HB0037 LRB104 03034 HLH 13052 b
1 AN ACT concerning local government.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Illinois Sports Facilities Authority Act is
5 amended by adding Section 12.2 as follows:
6 (70 ILCS 3205/12.2 new)
7 Sec. 12.2. Sale of property.
8 (a) The Authority is authorized to sell any or all of the
9 parcels of property described in Section 12.
10 (b) If the Authority sells the property described in
11 Section 12, the Authority shall obtain 3 appraisals of that
12 property, at least one of which shall be performed by an
13 appraiser residing in Cook County. The highest appraised value
14 from the 3 appraisals received plus the cost of obtaining the
15 appraisals shall represent the fair market value of the real
16 property only for the purposes of this subsection (b). No
17 property may be conveyed under this Section for less than the
18 fair market value. The Authority may sell the real property by
19 public auction following notice of the sale by publication on
20 3 separate days not less than 15 nor more than 30 days prior to
21 the sale in a daily newspaper having general circulation in
22 the county in which the real property is located.
23 (c) All moneys received from the sale of real property
104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB0037 Introduced , by Rep. La Shawn K. Ford SYNOPSIS AS INTRODUCED:
70 ILCS 3205/12.2 new 70 ILCS 3205/12.2 new
70 ILCS 3205/12.2 new
Amends the Illinois Sports Facilities Authority Act. Provides that the Illinois Sports Facilities Authority may sell certain specified property. Provides for the disposition of moneys received from the sale. Authorizes the Illinois Sports Facilities Authority to enter into any agreements and execute any documents necessary to arrange for the sale of the property.
LRB104 03034 HLH 13052 b LRB104 03034 HLH 13052 b
LRB104 03034 HLH 13052 b
A BILL FOR
70 ILCS 3205/12.2 new
LRB104 03034 HLH 13052 b
HB0037 LRB104 03034 HLH 13052 b
HB0037- 2 -LRB104 03034 HLH 13052 b HB0037 - 2 - LRB104 03034 HLH 13052 b
HB0037 - 2 - LRB104 03034 HLH 13052 b
HB0037 - 2 - LRB104 03034 HLH 13052 b