Illinois § 75

§ 75.

Conflicts of interest. Except as otherwise provided in this Act, it is unlawful for any member, officer, employee, or other appointee of the governing and administrative body or participating municipality or for the husband, wife, or minor child of a city council of a participating municipality to have, acquire, obtain, or hold any contract, work, or business of the Port District, whether for stationery, printing, paper, services, material, or supplies or any private financial interest in the sale or lease of property to or from the Port District. It is unlawful for any firm, partnership, association, or corporation from which these persons shall be entitled, by contract, stock ownership, or otherwise, to receive more than 7.5% of the total distributable net income from having, acquiring, obtaining, or holding the contract, work, or business or any private financial interest. It is unlawful for any firm, partnership, association, or corporation from which a listed person, together with his or her wife, husband, or minor child or children, or any combination, who shall by contract, stock ownership, or otherwise be entitled to receive, in the aggregate, more than 15% of the total distributable income from having, acquiring, obtaining, or holding the contract, work, or business or any private financial interest. Any person, firm, partnership, association, or corporation that violates the provisions of this Section shall forfeit any and all sums paid or to be paid by the Port District under the contract, sale, or lease and, if found guilty of a violation, shall be guilty of a business offense and shall be fined not to exceed $2,500. (Source: P.A. 103-242, eff. 1-1-24.)