Ill. Admin. Code tit. 44 § 1400.5505

Current through Register Vol. 48, No. 49, December 6, 2024

Section 1400.5505 - Concessions

a) All Concessions, including the assignment, license, sale, or transfer of interests in or rights to discoveries, inventions, patents, or copyrightable works, may be entered into by the Treasurer's office, if the concession is reduced to writing and awarded by one of the procurement methods described in this Part, except that the contract will be awarded to the highest and best offeror. The duration and terms of concessions and leases of State property must be in accordance with this Part.

b) Proposed concessions or leases of State property under this Part must be coordinated with CMS to ensure compliance with the State Property Control Act and rules implementing that Act (44 Ill Adm Code 5000).

Ill. Admin. Code tit. 44, § 1400.5505