IL HB3374

Increases total General Obligation Bond authorization for Illinois from $81,789,839,969 to $82,664,839,969, an increase of $875,000,000

Raises capital facilities bond authorization from $21,094,011,269 to $21,769,011,269, including increases for open spaces/conservation ($60 million more) and State agency use ($615 million more)

Increases State Pension Obligation Acceleration Bonds from $2,000,000,000 to $2,200,000,000 for making accelerated pension benefit payments under state employee pension systems

Raises Build Illinois Bond authorization from $11,358,681,100 to $12,098,881,100, with additional funding for public infrastructure ($132 million), economic development and community projects ($546.5 million), and educational/health facilities ($61.7 million)

Extends flexibility for fiscal year 2026 bond issuances to allow principal or mandatory redemption amounts in unequal amounts, matching provisions previously granted for fiscal year 2025