SB3962 104TH GENERAL ASSEMBLY

LRB104 19796 BAB 33246 b

104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026
SB3962

Introduced 2/6/2026, by Sen. Doris Turner

SYNOPSIS AS INTRODUCED:

20 ILCS 2105/2105-379 new
20 ILCS 2705/2705-570 new
310 ILCS 67/52 new

Amends the Department of Professional Regulation Law of the Civil Administrative Code of Illinois. Requires the Department of Financial and Professional Regulation, in consultation with the Sangamon County Board and the City of Springfield, to conduct a study on the lending practices and borrower outcomes within Sangamon County and analyze any information collected in connection with that study. Provides that the study shall encompass all financial institutions and lending entities licensed or regulated by the Department that operate within Sangamon County or are municipally authorized by the City of Springfield. Amends the Department of Transportation Law of the Civil Administrative Code of Illinois. Requires the Department of Transportation, in consultation with the specified entities, to conduct a countywide transit equity analysis study and analyze any information collected in connection with that study. Amends the Affordable Housing Planning and Appeal Act. Requires the Illinois Housing Development Authority, in consultation with the Sangamon County Board and the City of Springfield Office of Planning and Economic Development, to conduct a countywide housing and community revitalization study and analyze any information collected in connection with that study. Establishes reporting requirements related to each study under each of the relevant Acts. Sets a repeal date of December 31, 2029 for the provisions concerning each study under each of those Acts.

A BILL FOR

AN ACT concerning regulation.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Department of Professional Regulation Law of the Civil Administrative Code of Illinois is amended by adding Section 2105-379 as follows:

(20 ILCS 2105/2105-379 new)

Sec. 2105-379. Sangamon County fair lending practices study.

(a) The Department, in consultation with the Sangamon County Board and the City of Springfield, shall conduct a study on the lending practices and borrower outcomes within Sangamon County and analyze any information collected in connection with that study. The purpose of this study is to increase transparency in financial markets, reduce disparities in credit access, and promote accountability through the regular publication of lending and borrower data for Sangamon County.

(b) The study shall encompass all financial institutions and lending entities licensed or regulated by the Department that operate within Sangamon County or are municipally authorized by the City of Springfield, including banks, credit unions, mortgage companies, installment lenders, and alternative financial service providers.

(c) As part of the study, the Department shall collect, compile, and analyze anonymized data sets of:

(1) the average annual percentage rate by loan type and institution;

(2) the average loan size, term, and repayment duration;

(3) default and delinquency rates, including charge-offs and recovery outcomes;

(4) borrower income brackets and ranges;

(5) geographic distribution of loans by zip code, census tract, and ward; and

(6) aggregate number of active lenders and loan volumes within each regulatory category. All data sets shall undergo statistical disclosure limitation and de-identification procedures, including small-cell suppression for any reporting category representing fewer than 5 loans or borrowers.

(d) The study shall include, but need not be limited to:

(1) countywide, zip code, and ward-level summaries of lending trends;

(2) year-over-year comparisons highlighting changes in average annual percentage rate, loan volume, and default rates;

(3) analysis of disparities by geography, borrower income, and product type; and

(4) policy recommendations for equitable credit access and consumer protection.

(e) The Department may collaborate with local universities, financial researchers, and advocacy organizations to analyze the data and publish independent reviews.

(f) The Department may complete a preliminary report that may be made available for public inspection through electronic means prior to the publication of the final report under this Section. The Department shall complete and submit the final report under this Section to the Governor and the General Assembly by December 31, 2028. A copy of both the preliminary report, if made available by the Department, and the final report shall be made available to the public through electronic means.

(g) This Section is repealed on December 31, 2029.

Section 10. The Department of Transportation Law of the Civil Administrative Code of Illinois is amended by adding Section 2705-570 as follows:

(20 ILCS 2705/2705-570 new)

Sec. 2705-570. Sangamon County fair transit study.

(a) The Department, in consultation with the Sangamon County Board, the Sangamon Mass Transit District, Springfield-Sangamon County Regional Planning Commission, and relevant municipal bodies, shall conduct a countywide transit equity analysis study and analyze any information collected in connection with that study. The purpose of this study is to eliminate transportation disparities and promote equitable access for all residents.

(b) The study shall include, but need not be limited to, the following:

(1) mapping current service coverage, ridership data, and demographic trends;

(2) evaluating current transit infrastructure and accessibility, including accessible shelters, lighting, benches, and sidewalk connectivity, real-time route and language-access displays, ADA-compliant curb and ramp redesigns, public safety features such as cameras and lighting and recommending improvements to transit infrastructure and accessibility;

(3) identifying gaps in service for low-income, east-side, and rural residents;

(4) evaluating language-access equity in transit materials, signage, and communication; and

(5) recommending data-driven improvements to ensure equitable access across all neighborhoods.

(c) The Department may complete a preliminary report that may be made available for public inspection through electronic means prior to the publication of the final report under this Section. The Department shall complete and submit the final report under this Section to the Governor and the General Assembly by December 31, 2028. A copy of both the preliminary report, if made available by the Department, and the final report shall be made available to the public through electronic means.

(d) This Section is repealed on December 31, 2029.

Section 15. The Affordable Housing Planning and Appeal Act is amended by adding Section 52 as follows:

(310 ILCS 67/52 new)

Sec. 52. Sangamon County affordable housing study.

(a) The Illinois Housing Development Authority, in consultation with the Sangamon County Board and the City of Springfield Office of Planning and Economic Development, shall conduct a countywide housing and community revitalization study and analyze any information collected in connection with that study. The purpose of this study is to promote equitable housing and community revitalization.

(b) The study shall include, but need not be limited to, the following:

(1) identifying historically excluded or disinvested neighborhoods in need of targeted housing and infrastructure investment;

(2) assessing current affordable-housing stock, vacancy rates, and ownership disparities by race and income;

(3) prioritizing mixed-income and mixed-use development that enhances accessibility and local economic vitality;

(4) qualifying for competitive State and federal funding;

(5) establishing incentives to create more affordable housing, including, but not limited to, property-tax abatements tied to affordability covenants, priority permitting for developments meeting equity and inclusion benchmarks, low-interest loans or revolving funds for rehabilitation of vacant properties, and grants for the inclusion of accessible, ADA-compliant design in new developments; and

(6) evaluating homeownership and renter transition programs, including down-payment and credit-readiness support for first-time buyers, rehabilitation financing assistance for families purchasing in disinvested areas, and wraparound services for financial literacy, mortgage counseling, and post-purchase support.

(c) The Department may complete a preliminary report that may be made available for public inspection through electronic means prior to the publication of the final report under this Section. The Department shall complete and submit the final report under this Section to the Governor and the General Assembly by December 31, 2028. A copy of both the preliminary report, if made available by the Department, and the final report shall be made available to the public through electronic means.

(d) This Section is repealed on December 31, 2029.