IL HB3226

Requires voter referendum approval before any bonds or debt previously authorized by referendum can be extended or reissued by local governments or school districts

Mandates a one-year waiting period after a bond or debt is retired before a governmental unit can submit a new referendum question about extending or reissuing that debt

Imposes a one-year waiting period between failed bond or debt referendum attempts, preventing governmental units from repeatedly placing the same type of question before voters

Eliminates automatic annual increases to the debt service extension base under the Property Tax Extension Limitation Law, requiring voter approval via referendum for any increases (previously allowed up to 5% or CPI increase automatically)

Requires school districts to mail informational fact sheets to all voting-age residents at least 30 days before any referendum on bonds or property tax increases, including project descriptions, estimated costs, bond duration, total debt service, and tax impact on median-priced homes