(a) The term of a public-private agreement, including all extensions, may not exceed 99 years. (b) The responsible public entity shall terminate the contractor's authority and duties under the public-private agreement on the date set forth in the public-private agreement. (c) Upon termination of the public-private agreement, the authority and duties of the contractor under this Act cease, except for those duties and obligations that extend beyond the termination, as set forth in the public-private agreement, and all interests in the transportation facility shall revert to the responsible public entity.
630 ILCS 5/65
Term of agreement; reversion of property to responsible public entity
Known as the Public-Private Partnerships for Transportation Act
The act spans §§ 630-5-1 to 630-5-999 (31 sections).
P.A. 103-570, eff. 1-1-24.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.