Chicago Construction News staff writer
Gov. J.B. Pritzker has submitted the fiscal year 2027 capital budget to the Illinois General Assembly, proposing $3.2 billion in new bonded appropriations to continue the state’s multi-year infrastructure program, Rebuild Illinois. He also announced a new housing initiative aimed at lowering costs for renters and homebuyers.
“Let’s start with housing. The problem is clear. Rent is too high and home ownership is out of reach,” Pritzker said. “Today, I am proud to announce the Building Up Illinois Developments, or BUILD Plan, to lower housing costs by making it easier, faster, and more cost-effective to build homes here.”
The BUILD Plan will focus on closing financing gaps for housing development, supporting middle housing construction, providing down payment assistance for first-time buyers, and cutting red tape by streamlining permitting. Pritzker said this approach could add hundreds of thousands of homes across Illinois.
The governor’s capital budget also continues support for Rebuild Illinois, a bipartisan program funding highways and bridges, transit, waterways, freight and passenger rail, aviation, bicycle and pedestrian infrastructure, broadband expansion, state facilities, universities, drinking water and wastewater systems, and local parks.
Since fiscal year 2020, Illinois has spent more than $37 billion from capital appropriations to support economic and community development, environmental protection, healthcare, education, and transportation. The Illinois Department of Transportation alone has used about $22.5 billion to improve 21,833 lane miles of highway, repair 864 bridges, and make 1,326 safety improvements statewide.
“The proposed capital budget continues our commitment to grow our economy, create jobs, and provide opportunities for Illinoisans to work, play, and explore all our state has to offer,” Pritzker said.
The new funding would also support economic development through site readiness and affordable housing initiatives, enhance the readiness capabilities of the Department of Military Affairs, and improve the appearance and safety of state-owned properties.
“Together, let’s continue to rebuild Illinois,” Pritzker said.
