IL HB3766

Amends the Illinois Municipal Code by adding Section 11-76-7 to regulate sales of municipal assets.

Requires city councils to conduct a public hearing before adopting any ordinance or resolution to sell rights to use or profit from municipal assets, including water resources.

Mandates a referendum approval by electors at the next election following the public hearing before the city council may finalize the sale.

Prohibits home rule municipalities from regulating asset sales in a manner inconsistent with this requirement, establishing it as a constitutional limitation on home rule powers.