SB 2872 - Local Government Facility Lease Act - Illinois Key Vote

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Title: Local Government Facility Lease Act

Vote Smart's Synopsis:

Vote to pass a bill that limits the expansion of the Chicago Midway International Airport and sets requirements for the leasing by certain local governments of facility properties used for airport (other than O’Hare International Airport), parking, or waste disposal or processing purposes. The bill requires the lessees comply with local requirements otherwise applicable to the lessor regarding contracting with minority-owned and women-owned businesses and prohibiting discrimination and to pay wages equivalent to those of the lessor’s employees who previously worked there. The bill continues the tax exemption of leased properties and, as part of any transaction to lease for airport purposes, requires that both the lessor and the lessee offer employment to former employees under conditions similar to those before the lease. The bill also requires that at least 90 percent of the lease proceeds, minus the amounts used to pay debt on leased property, be used for construction of infrastructure or to contribute to municipal employee pension funds. Additionally, the bill requires that construction of public works of $500,000 or more and funded by lease proceeds, when in the public interest, be subject to negotiated labor agreements meeting certain requirements.