PROPERTY CONTROL-AIRCRAFT

Amends the State Property Control Act. Provides that the Board of Trustees of a public university or college in Illinois that offers courses in aviation, flight training, or other subjects involving knowledge of the workings of an airplane may sell a qualified transferable airplane to a bona fide purchaser for value and on terms that are in the best interests of that public university or college and are consistent with that university's or college's objects and purposes. Provides that the public university or college may retain the proceeds from the sale in a separate account for the purpose of maintaining the university's or college's fleet of aircraft or for the purpose of purchasing replacement aircraft.