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91_SB0834
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1 AN ACT concerning research parks.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Illinois Research Park Authority Act is
5 amended by changing Section 1-20 as follows:
6 (20 ILCS 3850/1-20)
7 Sec. 1-20. Members of Authority; terms; vacancies.
8 (a) The governing and administrative powers of the
9 Authority shall be vested in a body consisting of 10 7
10 members, to be appointed by the Governor, with the advice and
11 consent of the Senate. All of the members shall be residents
12 of the State. All of the members shall have recognized
13 ability and experience in one or more of the following areas:
14 higher education, research and development, science and
15 technology, economic development, finance, banking,
16 industrial development, business administration or
17 management, real estate development, community development,
18 venture finance, organized labor, or civic, community, or
19 neighborhood organization. A Chairman and Vice Chairman of
20 the Board shall be elected by the Board annually from among
21 its members.
22 (b) The terms of all members of the Board shall begin 30
23 days after the effective date of this Act. Of the members
24 initially appointed by the Governor, 3 shall serve until the
25 third Monday in January, 1996, 2 shall serve until the third
26 Monday in January, 1997, and 2 shall serve until the third
27 Monday in January, 1998. Each successor shall hold office of
28 a term of 4 years commencing the third Monday in January of
29 the year in which his or her term commences, except in case
30 of an appointment to fill a vacancy. In case of vacancy when
31 the Senate is not in session, the Governor may make a
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1 temporary appointment until the next meeting of the Senate
2 when a person shall be nominated to fill the office, and any
3 person so nominated who is confirmed by the Senate shall hold
4 office during the remainder of the term and until a successor
5 is appointed and qualified.
6 (Source: P.A. 88-669, eff. 11-29-94.)