Illinois House Approves Megaprojects Bill, But The Bears Want Changes

Key Points:

• The Illinois House approved a major economic development bill (78-32) aimed at enabling the Chicago Bears to build a new domed stadium in Arlington Heights, countering Indiana's $1 billion public subsidy offer to lure the team.
• The 377-page bill introduces a "megaproject" designation allowing developers investing $100 million or more to negotiate long-term property tax agreements, with the Bears' proposed $1 billion project eligible for up to a 40-year payment-in-lieu-of-taxes (PILOT) deal.
• While the Bears welcomed the progress, they indicated that further amendments are needed to make the Arlington Heights site feasible, and the bill still requires approval from the Illinois Senate and Governor Pritzker.
• The legislation includes provisions directing 50% of PILOT receipts toward property tax relief for homeowners, prohibits PILOT use for data centers, and contains ethics rules limiting lawmakers from accepting free sports tickets unless deals are public.
• Beyond the Bears, the bill expands economic development tools for Chicago and Springfield, including redevelopment of rail yards, expanded STAR bond eligibility, and creation of new tourism and medical districts to stimulate investment and job growth.