SCHOOL DISTRICT BRIDGE LOAN
Sponsored By: Mary Beth Canty (Democratic)
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.
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Bill Overview
No Economic Impacts Identified for this Bill
Sponsors & Cosponsors
Sponsor
Mary Beth Canty
Democratic • House
Cosponsors
Nicolle Grasse
Democratic • House
Roll Call Votes
No roll call votes available for this bill.
Actions Timeline
Rule 19(a) / Re-referred to Rules Committee
3/27/2026HouseAdded Co-Sponsor Rep. Nicolle Grasse
3/25/2026HouseAssigned to Revenue & Finance Committee
3/12/2026HouseReferred to Rules Committee
2/13/2026HouseFirst Reading
2/13/2026HouseFiled with the Clerk by Rep. Mary Beth Canty
2/6/2026House
Bill Text
Introduced
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