Illinois HB4187 amends the Department of Transportation Law to set lease terms for land or property.
Illinois HB4187 amends the Department of Transportation Law to establish lease terms for land or property. It mandates that leases be at fair market value and meet statutory requirements. The bill specifies that leases in counties with populations over 3,000,000 can be up to 35 years, while leases for pedestrian infrastructure over state highways can also be up to 35 years if entered into within a year of the bill's effective date.
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