Bill
HB 5621
HB 5621 changes Build Illinois Act loan limits, altering how much the state can lend for infrastructure to local governments and partners, impacting funding access and liabilities.
Status snapshot
- Bill number: HB 5621 (companion: SB 3027)
- Title: BUILD ILLINOIS ACT — LOAN LIMIT
- Introduced (House): March 14, 2025 (per docket)
- Most recent public action: Public committee hearing held April 16, 2025; testimony taken and left pending in committee.
- Procedural note: The bill has been placed on the Calendar (Order of 3rd Reading) and has moved through multiple committee referrals (including Judiciary & Civil Jurisprudence and earlier references to public health and executive committees). The legislative history contains entries spanning 2024–2025 (suggesting prior versions or related measures); readers should consult the bill text for the definitive provisions.
Purpose and intent
- HB 5621 (by its title) proposes to modify the loan limit(s) established under the Build Illinois Act. The Build Illinois Act is the State law that authorizes financial assistance (commonly loans or loan guarantees) for public infrastructure and capital projects. The bill’s primary intent is therefore to change the maximum loan amount(s) or related loan-limiting rules that determine how much the State (or a designated fund/entity) may lend to eligible borrowers or projects under that Act.
Key provisions (what to expect; text needed for specifics)
- Change to loan limit(s): likely increases, decreases, or otherwise revises statutory caps on loans made under the Build Illinois Act (could be per-project, per-borrower, or aggregate fund limits).
- Technical or definitional updates: may amend definitions of eligible projects, borrowers, or repayment terms that interact with the loan limit.
- Fiscal/administrative consequences: may authorize additional appropriations, change the structure of the Build Illinois loan fund, or alter reporting/approval requirements for loans exceeding prior caps.
Note: The bill text is required to state exact dollar amounts, percentages, or formula changes. Those specifics are not included in the available docket entry.
Who would be affected
- Directly: entities eligible under the Build Illinois Act — typically local governments, municipal agencies, school districts, special districts, not-for-profits engaged in public infrastructure, and possibly state agencies.
- Indirectly: taxpayers and the State budget (changes to loan caps can affect future State cash flow, credit exposure, and borrowing needs), contractors and communities receiving infrastructure investments.
Procedural timeline and current posture
- Filed/introduced: March 14, 2025 (docket); earlier related activity appears in 2024 records (indicating prior versions or companion movement).
- Committee activity: Assigned to committees (including Judiciary & Civil Jurisprudence); public hearing and testimony taken on April 16, 2025; bill left pending in committee after that hearing.
- Floor calendar: Placed on Calendar — Order of 3rd Reading (dates in 2024 and Jan 5, 2025 appear in the record; verify the current session’s calendar for accurate floor scheduling).
- Next steps: If advanced from committee, the bill would return to the full chamber for 2nd and 3rd reading votes; companion SB 3027 would proceed in the Senate.
Impact notes and recommendations
- Fiscal impact depends on whether the bill raises aggregate lending capacity or per-loan caps — could increase State contingent liabilities and demand on Build Illinois resources.
- Municipalities and infrastructure projects could gain improved access to financing if caps are raised. If caps are lowered, some projects could lose eligibility or need alternative financing.
- For precise project and budget impacts, review the bill text, fiscal notes, and committee reports (these will show dollar amounts, appropriation language, and the State Comptroller/Legislative Fiscal Office analysis).
Where to get the full text and updates
- Consult the Illinois General Assembly website for HB 5621 full text, amendments, fiscal notes, and updated status. Track companion SB 3027 for parallel action in the Senate.
Caveat
- This summary is based on the bill title and available docket entries. The exact statutory changes (specific loan limit figures, eligibility changes, or fiscal language) require review of the bill text and fiscal note.
Compiled from official sources — confirm details with the bill’s official record.
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