# Illinois SB1776: FINANCE-YOUNG FARMER

Illinois SB1776, FINANCE-YOUNG FARMER, is a 104th General Assembly (2025–2026) Senate bill sponsored by Michael W. Halpin (Democratic); status in committee, last action 2026-05-19 (Added as Chief Co-Sponsor Sen. Sally J. Turner) (as of 2026-11-01).

- Canonical: https://policyrisk.com/state-bill/IL-SB1776-2025-2026
- As of: 2026-11-01
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: Illinois SB1776
- State: Illinois
- Session: 104th General Assembly (2025–2026)
- Title: FINANCE-YOUNG FARMER
- Status: in committee
- Chamber: Senate
- Introduced: 2025-02-06
- Last action: 2026-05-19, Added as Chief Co-Sponsor Sen. Sally J. Turner
- Sponsor: Michael W. Halpin (Democratic)
- Cosponsors: 3
- Subjects: assignments
- Touches household money: no
- Economic provisions PRIA read: 0

## Summary

Amends the Illinois Finance Authority Act. In provisions concerning the Young Farmer Loan Guarantee Program, provides that State Guarantees under the program shall not exceed $1,000,000 (currently $500,000) per young farmer. Provides that the Illinois Finance Authority is authorized to issue State Guarantees to lenders for loans to finance or refinance tuition debt incurred by or on behalf of an eligible farmer for post-secondary education in an agriculture field. Provides that the Illinois Finance Authority may use moneys under the Working Capital Loan Guarantee Program to finance rental payments for land leased to the farmer. Provides that State Guarantees provided under the Working Capital Loan Guarantee Program may not exceed $500,000 per borrower. Effective immediately

## Bill overview

No economic impacts identified for this bill.

## Sponsors and cosponsors

- Sponsor: Michael W. Halpin (Democratic), Senate
- Cosponsor: Doris Turner (Democratic), Senate
- Cosponsor: Paul Faraci (Democratic), Senate
- Cosponsor: Sally J. Turner (Republican), Senate

## Actions (6)

- 2026-05-19: Added as Chief Co-Sponsor Sen. Sally J. Turner (Senate)
- 2025-02-26: Added as Chief Co-Sponsor Sen. Paul Faraci (Senate)
- 2025-02-06: Added as Chief Co-Sponsor Sen. Doris Turner (Senate)
- 2025-02-06: Referred to Assignments (Senate)
- 2025-02-06: First Reading (Senate)
- 2025-02-06: Filed with Secretary by Sen. Michael W. Halpin (Senate)

## Bill text

- Introduced: [PDF](https://www.ilga.gov/documents/legislation/104/SB/PDF/10400SB1776.pdf)

## Related bills

- HB5198: AFFORDABLE HOUSING-CILAS (passed house)
- SB1937: PENSION CODE-VARIOUS (passed senate)
- HB2563: CONDO-RESERVE STUDY (in committee)
- HB4701: LIMITATIONS FACILITY FEES ACT (in committee)
- SB3008: DHS-ABLE PROGRAM INFO MATERIAL (passed senate)
- SB3484: VEH CD-PLATES-REGISTRATION (signed)

## Sources
- [Introduced (PDF)](https://www.ilga.gov/documents/legislation/104/SB/PDF/10400SB1776.pdf)

## Related
- [HB5198: AFFORDABLE HOUSING-CILAS](https://policyrisk.com/state-bill/IL-HB5198-2025-2026)
- [SB1937: PENSION CODE-VARIOUS](https://policyrisk.com/state-bill/IL-SB1937-2025-2026)
- [HB2563: CONDO-RESERVE STUDY](https://policyrisk.com/state-bill/IL-HB2563-2025-2026)
- [HB4701: LIMITATIONS FACILITY FEES ACT](https://policyrisk.com/state-bill/IL-HB4701-2025-2026)
- [SB3008: DHS-ABLE PROGRAM INFO MATERIAL](https://policyrisk.com/state-bill/IL-SB3008-2025-2026)
- [SB3484: VEH CD-PLATES-REGISTRATION](https://policyrisk.com/state-bill/IL-SB3484-2025-2026)
- [Illinois bills](https://policyrisk.com/states/illinois/bills)
- [Illinois state hub](https://policyrisk.com/states/illinois)
- [All state legislation](https://policyrisk.com/state-bills)

Source: PRIA, https://policyrisk.com/state-bill/IL-SB1776-2025-2026 (as of 2026-11-01).