This omnibus financing bill increases the state debt limit by over $8 billion. It also allows schools to build new buildings without referendum if done to house pre-school or kindergarten classes. Schools are also allowed to extend bond payback from 25 years to 30 years. Approved school referendum debt can exceed statutory debt limits.
Current Bill Status: Passed
What You Need to Know
Read Article on School Debt –https://www.chapman.com/publication-changes-to-illinois-school-district-borrowing-powers
Read Article on Debt Limit Increase – https://www.cilfm.com/2024/06/10/governor-pritzker-has-signed-a-750-million-tax-increase-bill/
Read the Bill
HB 4582 Bill Text -View the exact language of the bill
Voting Record
HB 4582 House VoteView the House vote record for this bill
HB 4582 Senate VoteView the Senate vote record for this bill
How to Take Action
Being informed about upcoming legislation is only half the battle. We strongly encourage you to make your voice heard by contacting your representatives!
Find Your Legislators
Click on the link below to find out who your Illinois State elected officials are and how to contact them.