summary
Introduced
10/14/2025
10/14/2025
In Committee
10/29/2025
10/29/2025
Crossed Over
10/29/2025
10/29/2025
Passed
12/12/2025
12/12/2025
Dead
Signed/Enacted/Adopted
12/12/2025
12/12/2025
Introduced Session
104th General Assembly
Bill Summary
Amends the Local Government Debt Reform Act. Provides that, in the case of bonds authorized to be issued under the School Code and approved by voters of Iroquois County Community Unit School District Number 9 in an April 2021 referendum, the bond approval, once obtained, remains for 10 years after the date of the referendum. Effective immediately.
AI Summary
This bill amends the Local Government Debt Reform Act to specifically address bond authorization for Iroquois County Community Unit School District Number 9. Under current law, bond referendum approvals typically remain valid for 3-5 years, depending on the type of referendum. This bill extends the bond authorization period for bonds approved by voters in an April 2021 referendum to 10 years, which means the school district can issue bonds under that referendum's approval for a longer period than would normally be allowed. This provides the school district with more flexibility in timing its bond issuance and allows them to take advantage of potentially more favorable market conditions within that extended 10-year window. The bill takes effect immediately upon becoming law, which means the extended authorization period will apply retroactively to the 2021 referendum.
Committee Categories
Education
Sponsors (2)
Last Action
Public Act . . . . . . . . . 104-0456 (on 12/12/2025)
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
Loading...