IllinoisHB5478104th General Assembly (2025–2026)House

SCHOOL DISTRICT BRIDGE LOAN

Sponsored By: Mary Beth Canty

In Committee

Summary

Amends the State Finance Act. Provides that the State Comptroller, in coordination with the State Board of Education, shall establish and administer a program under which eligible school districts located in Cook County may receive interest-free loans from the State Treasury to address cash flow shortages caused by the delayed issuance of property tax bills by the Cook County Treasurer. Provides that a school district shall be eligible for a loan if the Cook County Treasurer fails to issue property tax bills by the statutory deadline under the Property Tax Code, the failure results in a delay in the receipt of property tax revenues, and the State Board of Education certifies that the district has experienced or will immediately experience a cash flow deficit as a result of the delay. Provides that the loans shall be limited to the amount necessary to maintain essential operations and shall bear no interest to the borrowing district. Provides that the term for a loan shall not exceed 12 months, and that the loan shall repaid in full upon receipt of delayed property tax revenues. Provides that the Cook County shall reimburse the State Treasury for the full amount of interest income lost by the State on any loan. Effective immediately.

revenue & finance

Personalized for You

How does this bill affect your finances?

Personalize government policy and PRIA will tell you what this bill means for your household, plus every other piece of legislation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.

Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Mary Beth Canty

    Affiliation unavailable

Cosponsors

  • Nicolle Grasse

    Affiliation unavailable

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. Rule 19(a) / Re-referred to Rules Committee

    3/27/2026House
  2. Added Co-Sponsor Rep. Nicolle Grasse

    3/25/2026House
  3. Assigned to Revenue & Finance Committee

    3/12/2026House
  4. Referred to Rules Committee

    2/13/2026House
  5. First Reading

    2/13/2026House
  6. Filed with the Clerk by Rep. Mary Beth Canty

    2/6/2026House

Bill Text

Related Bills

Back to State Legislation