ST CONTRACTS-DISCLOSURE

Creates the Legislative Contract Disclosure Act and the Lieutenant Governor’s Contract Disclosure Act and amends the State Budget Law, the Attorney General Act, the Secretary of State Act, the State Comptroller Act, the State Treasurer Act, and the Illinois State auditing Act. Requires that the offices of statewide officers, legislators, legislative agencies, and the Auditor General post on their websites disclosures with respect to each of their contracts with an annual value of $50,000 or more. Specifies the contents of the disclosure, including the names of the contracting entity and others with whom the contracting entity has a financial relationship. Amends the Illinois Procurement Code to require posting on the online Procurement Bulletin of similar disclosures by bidders and offerors on State contracts with an annual value of $50,000 or more. Amends the Illinois Procurement Code to make changes with respect to the following: amendments to contracts; contents of the Procurement Bulletin; contract renewals; use of competitive bidding; sole source procurements; emergency procurements; bidders and offerors authorized to do business in Illinois; contract specifications; expense reimbursement; contract payments; lease renewals; lease holdovers; conflict of interest waivers; and contract voidability. Effective immediately.