Illinois HB 5037: CONDO-DISTRESSED PROPERTY

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104TH GENERAL ASSEMBLY 
State of Illinois 
2025 and 2026
HB5037

Introduced 2/10/2026, by Rep. Jeff Keicher 

SYNOPSIS AS INTRODUCED:

New Act

 Creates the Fixing Illinois Higher Education Funding Act. Requires the Board of Higher Education to study the cost drivers of State universities and develop a comprehensive, 10-year plan to ensure the long-term performance and sustainability of higher education in the State that ensures funding supports education outcomes, assesses the affordability of higher education for students, and supports long-term economic and workforce development goals. Sets forth factors to be studied. Requires the Board to issue a report based on the findings of the study to the Governor and the General Assembly no later than March 31, 2027. Effective immediately.

LRB104 16718 LNS 30124 b

A BILL FOR

HB5037LRB104 16718 LNS 30124 b

1 AN ACT concerning education.

2 Be it enacted by the People of the State of Illinois, 

3represented in the General Assembly:

4 Section 1. Short title. This Act may be cited as the Fixing 

5Illinois Higher Education Funding Act.

6 Section 5. Findings and intent.

7 (a) The General Assembly finds that higher education in 

8this State has faced dropping enrollment and is facing an 

9enrollment cliff with declining birth rates, waning public 

10confidence in bachelor's degrees, and artificial intelligence 

11rapidly reshaping the entry-level job market for college 

12graduates and that despite serving fewer students, State 

13universities are spending more per student than other states 

14in the country, while in-state tuition continues to increase.

15 (b) It is the intent of the General Assembly that:

16 (1) funding for State universities align with the 

17 needs of the