SB 2790

Abstract

Amends the State Property Control Act and the Southern Illinois University Management Act. Allows the Board of Trustees of Southern Illinois University to sell, lease, or otherwise transfer and convey all or part of real estate deemed by the Board to be surplus real estate, together with the improvements situated thereon, to a bona fide purchaser for value without compliance with the State Property Control Act and on such terms as the Board shall determine are in the best interests of the University and consistent with the University's objects and purposes. Allows the Board to retain the proceeds from the sale, lease, or other transfer of all or any part of the real estate deemed surplus real estate and the improvements situated thereon in the University treasury in a separate student scholarship fund account that the Auditor General shall examine to ensure the use or deposit of those proceeds in a manner consistent with the purposes of that student scholarship fund account. Effective immediately.