Bill
SB 3773
SB 3773 aims to create or modify revenue tools to fund and stimulate Illinois community development through designated funds, governance, and oversight.
SB 3773 (Session 104th, Illinois) is a revenue-related measure titled “Revenue-Community Develop.” The bill was filed on February 5, 2026, by Senator Willie Preston (co-sponsored by Senator Preston). It has been referred to the Assignments group and has not yet advanced to other committees or readings beyond the initial action.
Revenue Mechanisms: Likely creates, expands, or alters financial instruments or revenue streams to support community development initiatives. This could include:
Allocation and Use of Funds: Provisions may specify how revenues are collected, what portion is dedicated to community development, and how funds are disbursed (e.g., grantmaking, subsidies, loans, or public works).
Governance and Oversight: Possible creation or designation of a governing body, board, or agency responsible for administering the revenues and ensuring compliance with program criteria.
Accountability and Reporting: Requirements for annual reports, audit provisions, and public transparency regarding fund balances, expenditures, and project outcomes.
Local Governments and Municipalities: If revenues are tied to local development, towns, cities, and counties could be affected by new funding streams or allocation formulas.
Developers and Property Owners: Investors and developers may be impacted by new incentives, taxes, or fees intended to promote development projects.
State Agencies: Departments responsible for tax administration, revenue collection, and economic development may implement and oversee the new revenue mechanisms.
General Public/Taxpayers: The ultimate beneficiaries or impacts would depend on how revenues are raised and used; potential effects include changes in tax burdens and availability of funds for community programs.
Filing and First Reading: SB 3773 was filed on February 5, 2026, and received its first reading on the same day.
Referral: The bill was referred to Assignments, which typically determines the next steps and committee assignments for consideration.
Next Steps (typical for similar bills): If advanced, it would proceed to relevant committees (e.g., revenue, public finance, or housing/economic development committees), with opportunities for hearings, amendments, and floor debate before potential passage by the Senate and subsequent passage by the House (if applicable in this jurisdiction).
If you’d like, I can tailor the summary further once the bill’s full text becomes available or share a comparison with similar revenue-for-development bills in Illinois.
Compiled from official sources — confirm details with the bill’s official record.
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