summary
Introduced
01/13/2026
01/13/2026
In Committee
01/13/2026
01/13/2026
Crossed Over
Passed
Dead
Introduced Session
104th General Assembly
Bill Summary
Amends the Illinois Municipal Code. Provides that, the beginning on the effective date of the amendatory Act, the Chicago City Council shall not adopt an ordinance authorizing a debt issuance without the affirmative vote of at least three-fifths of the alderpersons then holding office on the Chicago City Council. Defines "debt issuance". Limits home rule powers.
AI Summary
This bill requires the Chicago City Council to have a supermajority vote of at least three-fifths of its members to approve any ordinance authorizing a "debt issuance," which is defined as any borrowing of money by the City of Chicago itself or by an entity created by the city for its benefit, including general obligation or revenue bonds. This change, effective upon passage, limits the home rule powers of Chicago, meaning the city cannot bypass this new requirement through its own ordinances.
Sponsors (1)
Last Action
Referred to Assignments (on 01/13/2026)
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