SB3558

Illinois SB3558 amends the Illinois Procurement Code to allow for competitive sealed bidding and reverse auctions for contract awards, including the.

Illinois SB3558 modifies the Illinois Procurement Code to introduce new procedures for awarding contracts. The bill allows for competitive sealed bidding and reverse auctions, where bidders can reduce their prices during the auction. It also permits the use of market basket analysis to evaluate the lowest price a vendor can offer for a representative sample of supplies, which must constitute at least 75% of the contract's total estimated cost. The bill includes provisions for public notice, bid acceptance, evaluation, and correction or withdrawal of bids.