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SB 2758

Illinois Senate•In Senate Committee

Summary

SB 2758, “CHICAGO DEBT ISSUANCE VOTES”, was introduced in the Senate on Jan 13, 2026 by Sen. Mike Porfirio (D). It was referred to Assignments, and last saw action on Jan 13, 2026: Referred to Assignments.

Record

Text

SB 2758 has no co-sponsors and has not gone to a roll call.

sb2758/introduced.txt
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Full Text of SB2758
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					SB2758 - 104th General Assembly
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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
		SB2758		LRB104 16597 RTM 29997 b
1		    AN ACT concerning local government.
2		    Be it enacted by the People of the State of Illinois,
3		represented in the General Assembly:
4		    Section 5. The Illinois Municipal Code is amended by
5		adding 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 
8		Chicago; supermajority vote required.
9		    (a) As used in this Section, "debt issuance" means any 
10		issuance of indebtedness by the City of Chicago, acting in a 
11		non-conduit capacity, or by any corporation, trust, or other 
12		entity established by the City of Chicago pursuant to an 
13		ordinance or resolution adopted by the Chicago City Council 
14		for the benefit of the City of Chicago, including the issuance 
15		of any general obligation or revenue bonds.
16		    (b) Notwithstanding any other law, beginning on the 
17		effective date of this amendatory Act of the 104th General 
18		Assembly, the Chicago City Council shall not adopt an 
19		ordinance authorizing a debt issuance without the affirmative 
20		vote of at least three-fifths of the alderpersons then holding 
21		office on the Chicago City Council.
22		    (c) A home rule municipality may not issue or incur debt in 
23		a manner inconsistent with this Section. This Section is a 
		SB2758	- 2 -	LRB104 16597 RTM 29997 b
1		limitation of home rule powers and functions under subsection 
2		(j) of Section 6 of Article VII of the Illinois Constitution.

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.

Sponsors

Sen. Mike Porfirio (D) sponsors SB 2758 alone.

Mike Porfirio

Sen. · D–11 · Sponsor

Committees

SB 2758 went before 1 committee: Assignments.

Assignments
Assignments
Referred to · Jan 13, 2026

History

SB 2758 has taken 3 actions since Jan 13, 2026.

ChamberAction
Jan 13, 2026
Senate
Filed with Secretary by Sen. Mike Porfirio
Jan 13, 2026
Senate
First Reading
Jan 13, 2026
Senate
Referred to Assignments

Votes

SB 2758 has not gone to a roll call.

Source: ilga.gov · legiscan.com