IL HB1322

Amends Section 8-4-1 of the Illinois Municipal Code to allow corporate authorities of non-home rule municipalities to authorize bond issuance without voter approval, effective upon enactment of this amendment.

Maintains existing requirement that home rule municipalities and all municipalities seeking to issue general obligation bonds must submit the question to electors for approval by majority vote.

Preserves authority for municipalities to issue specific bond types without voter approval, including refunding bonds, judgment bonds, special assessment anticipation bonds, and bonds authorized under various state laws.

Requires notice of any bond elections to include the bond issue amount, purpose, and maximum interest rate.