Current through Register Vol. 48, No. 38, September 20, 2024
a)
Prohibitions
1) The Treasurer and all
employees of the Treasurer's office who receive compensation for the employment
in excess of 60% of the salary of the Governor of the State of Illinois and the
spouses and minor children of those persons may not have or acquire any
contract, or any direct pecuniary interest in any contract, that will be wholly
or partially satisfied by the payment of funds appropriated by the General
Assembly of the State of Illinois.
2) No firm, partnership, association, or
corporation in which any person described in subsection (a)(1) is entitled to
receive:
A) more than 7 1/2% of the total
distributable income; or
B) an
amount in excess of the salary of the Governor,
may have or acquire any contract or direct pecuniary interest
in any contract that will be wholly or partially satisfied by the payment of
funds appropriated by the General Assembly of the State of Illinois.
3) No firm,
partnership, association, or corporation in which any person described in
subsection (a)(1) together with his or her spouse or minor children is entitled
to receive:
A) more than 15%, in the
aggregate, of the total distributable income; or
B) an amount in excess of two times the
salary of the Governor,
may have or acquire any contract or direct pecuniary interest
in any contract that will be wholly or partially satisfied by the payment of
funds appropriated by the General Assembly of the State of Illinois.
b) An
individual has a direct pecuniary interest in a contract when the individual is
owed any payment in conjunction with performance of a contract, including
finders' fees and commission payments.
c) Distributable income means the income to a
company after payment of all expenses, including employee salary and bonus, and
retained earnings, and which remaining amount is actually distributed to those
entitled to receive a share of the income.
d) Applicability
This Section does not apply to or affect the validity
of:
1) any bond or other security
previously offered for sale, to be offered for sale or sold by or for the State
of Illinois;
2) any contract made
between the State and a person described in subsection (a)(1) that was in
existence before the election or employment of the person if the contract can
be completed within 365 days after the person takes office; otherwise, it is
voidable by the State;
3) payments
made for a public aid recipient;
4)
any contract for personal services as a teacher or school administrator between
the Treasurer, or an employee of the Treasurer's office, and a school district,
public community college district, or the University of Illinois, Southern
Illinois University, Illinois State University, Eastern Illinois University,
Northern Illinois University, Western Illinois University, Chicago State
University, Governor's State University, or Northeastern Illinois
University;
5) any contract for
personal services of a wholly ministerial character, including, but not limited
to, services as a laborer, clerk, typist, stenographer, page, bookkeeper,
receptionist, or telephone switchboard operator, made by a spouse or minor
child of the Treasurer or an employee of the Treasurer's office;
6) payments made to the Treasurer or an
employee of the Treasurer's office for or on behalf of a child or family served
by the Department of Children and Family Services;
7) contracts that are competitively procured
as provided in this Part between the Treasurer's office and licensed
professionals.
e)
Exemptions
The Treasurer, with the approval of the Chief Procurement
Officer, may exempt named individuals from the prohibitions in this Section
when, in his or her judgement, the public interest in having the individual in
the service of the State outweighs the public policy evidenced in this Section.
An exemption is effective only when it is filed with the Secretary of State and
the Comptroller and includes a statement that includes the name of the
individual, all pertinent facts that would make this Section applicable, the
reason for the exemption and a declaration that the individual is exempted from
this Section. Notice of each exemption must be published as provided in Section
1400.1505 and made part of the
procurement file.
