Illinois HB 5478: SCHOOL DISTRICT BRIDGE LOAN

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104TH GENERAL ASSEMBLY 
State of Illinois 
2025 and 2026
HB5478

Introduced 2/13/2026, by Rep. Mary Beth Canty 

SYNOPSIS AS INTRODUCED:

30 ILCS 105/6z-149 new

35 ILCS 200/20-227 new

 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.

LRB104 19261 HLH 32707 b

A BILL FOR

HB5478LRB104 19261 HLH 32707 b

1 AN ACT concerning State government.

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

3represented in the General Assembly:

4 Section 5. The State Finance Act is amended by adding 

5Section 6z-149 as follows:

6 (30 ILCS 105/6z-149 new)