Illinois SB 2758: CHICAGO DEBT ISSUANCE VOTES
Status: Referred to Assignments (as of 2026-01-13)
State: Illinois · Session: 104th · Bill: SB 2758
Sponsors: Mike Porfirio
Bill Text
• Illinois General Assembly - Full Text of SB2758 • • • • • • • • • • • • Select Language × The Illinois General Assembly offers the Google Translate™ service for visitor convenience. In no way should it be considered accurate as to the translation of any content herein. Visitors of the Illinois General Assembly website are encouraged to use other translation services available on the internet. The English language version is always the official and authoritative version of this website. NOTE: To return to the original English language version, select the "Show Original" button on the Google Translate™ menu bar at the top of the window. Choose Language English Afrikaans Albanian Arabic Armenian Azerbaijani Basque Bengali Bosnian Catalan Croatian Czech Danish Dutch Esperanto Estonian Filipino Finnish French Galician Georgian German Greek Gujarati Haitian Creole Hausa Hawaiian Hebrew Hindi Hungarian Icelandic Indonesian Interlingua Interlingue Inuktitut Irish Italian Japanese Javanese Kannada Khmer Korean Latin Latvian Lithuanian Luxembourgish Macedonian Malagasy Malayalam Maltese Maori Marathi Myanmar Nepali Norwegian Odia Pashto Punjabi Romanian Russian Samoan Sango Sanskrit Sardinian Sindhi Sinhala Slovak Slovenian Somali Southern Sotho Spanish Sundanese Swahili Swedish Tamil Telugu Thai Tigrinya Tonga Turkish Ukrainian Urdu Vietnamese Welsh Xhosa Yiddish Yoruba Zulu Powered by Translate Close Illinois General Assembly Top Navigation Bar Translate Learn Select General Assembly Search the 104th General Assembly Enter search terms for legislation, members, committees, or schedules. ILGA.GOV • • LEGISLATION & LAWS • Bills & Resolutions • Public Acts • Illinois Compiled Statutes • Illinois Constitution • Search Legislation • Glossary • Guide • Reports & Inquiry • Legislative Reports • Special Reports • FTP Site • Legislator Lookup • Capitol Complex Phone Numbers • Rules & Regulations • Illinois Register • Administrative Rules • Senate • Members • Schedules • Committees • Request for Remote Testimony • Journals • Transcripts • Rules • Audio/Video • FOIA Information • Senate Employment Opportunities • Media Guidelines • House • Members • Schedules • Committees • Submit testimony for House Committees • Journals • Transcripts • Rules • Audio/Video • FOIA Information • House Employment Opportunities • Log In Mobile Top Bar Search the 104th General Assembly Enter keywords to search the Illinois General Assembly website. Full Text of SB2758 • Home • Legislation • Full Text SB2758 - 104th General Assembly • Bill Status • Full Text • Votes • Witness Slips Select Menu Bill Status Full Text Votes Witness Slips Printer Friendly Version Introduced Printer Friendly Version Introduced Open PDF 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 SB2758 Introduced 1/13/2026, by Sen. Mike Porfirio SYNOPSIS AS INTRODUCED: 65 ILCS 5/3.1-40-42 new 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. LRB104 16597 RTM 29997 b A BILL FOR SB2758LRB104 16597 RTM 29997 b 1 AN ACT concerning local government. 2 Be it enacted by the People of the State of Illinois, 3represented in the General Assembly: 4 Section 5. The Illinois Municipal Code is amended by 5adding Section 3.1-40-42 as follows: 6 (65 ILCS 5/3.1-40-42 new) 7 Sec. 3.1-40-42. Approval of debt issuance by the City of 8Chicago; supermajority vote required. 9 (a) As used in this Section, "debt issuance" means any 10issuance of indebtedness by the City of Chicago, acting in a 11non-conduit capacity, or by any corporation, trust, or other 12entity established by the City of Chicago pursuant to an 13ordinance or resolution adopted by the Chicago City Council 14for the benefit of the City of Chicago, including the issuance 15of any general obligation or revenue bonds. 16 (b) Notwithstanding any other law, beginning on the 17effective date of this amendatory Act of the 104th General 18Assembly, the Chicago City Council shall not adopt an 19ordinance authorizing a debt issuance without the affirmative 20vote of at least three-fifths of the alderpersons then holding 21office on the Chicago City Council. 22 (c) A home rule muni
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