No Gimmicks, No Games. Just business for Illinois. Rep. McLaughlin unveils New Bears Proposal.
LAKE BARRINGTON, IL — State Representative Martin McLaughlin (R-Lake Barrington) today unveiled a straightforward business proposal designed to keep the Chicago Bears in Illinois while protecting taxpayers through transparency, accountability, and long-term financial certainty.
The proposed legislation, known as the Taxpayer and Investment Protection Agreement (TIPA) Act (HB5797), would establish a framework for a public-private partnership that encourages major economic development projects to remain in Illinois rather than relocate to neighboring states.
Under the proposal, the Chicago Bears would privately invest a minimum of $2.5 billion toward construction of a new stadium. The State of Illinois would contribute up to $1.2 billion toward public infrastructure improvements, supporting both the stadium project and an estimated $4 billion in surrounding economic development.
The legislation would also establish an independent third-party audit committee responsible for issuing annual public reports to ensure that all parties comply with negotiated obligations and financial commitments.
“Illinois cannot afford to lose one of its most recognizable franchises and the billions of dollars in economic activity that come with it,” McLaughlin said. “If we want major private investment to stay in Illinois, we must provide the same thing that every successful business environment provides: certainty, accountability, and clear rules.”
The proposal would include:
• A minimum private investment commitment of $2.5 billion by the Chicago Bears.
• Infrastructure funding support tied to economic development and public improvements.
• Independent annual audits and public reporting requirements.
• Long-term property tax certainty through negotiated agreements among participating entities.
• Binding 30-year commitments designed to ensure all parties honor their obligations.
• Taxpayer protections through oversight, transparency, and performance monitoring.
McLaughlin emphasized that the proposal is intended to avoid open-ended taxpayer liability, while also ensuring Illinois remains competitive with neighboring states seeking to attract major investments.
“This is not about writing blank checks,” McLaughlin said. “It is about creating a responsible business framework that protects taxpayers while giving investors the confidence to commit billions of dollars to Illinois. Businesses invest where there is certainty. Taxpayers deserve accountability. The TIPA Act delivers both.”
McLaughlin said the proposal could serve as a model for future transformational economic development projects throughout Illinois by creating predictable rules, independent oversight, and enforceable protections for taxpayers.
For more information, contact Rep. Martin McLaughlin’s office at 224-634-8300 or by email at [email protected].
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State Representative Martin McLaughlin serves the residents of the 52nd District which includes the following Northwest Suburban communities in Cook, Lake, and McHenry counties: Algonquin, Barrington, Barrington Hills, Cary, Deer Park, Fox River Grove, Grayslake, Hawthorn Woods, Hoffman Estates, Inverness, Island Lake, Lake Barrington, Lake In The Hills, Lake Zurich, Lakemoor, Libertyville, Long Grove, McHenry, Mundelein, North Barrington, Port Barrington, Round Lake, Round Lake Beach, S Barrington, South Barrington, Tower Lakes, Volo, Wauconda.