: You can buy "New Issues" (brand new debt) or "Secondary Market" bonds (existing bonds sold by other investors).
Because Illinois state and municipal bonds offer unique tax advantages—typically being exempt from federal income tax and sometimes state taxes for Illinois residents—they are a popular choice for stable income. 1. Buying Through a Brokerage how to buy illinois bonds
To buy Illinois bonds, you generally have three paths: purchasing through a broker, investing in diversified funds (ETFs or Mutual Funds), or participating in new issuances directly from the state or local governments. : You can buy "New Issues" (brand new
This is the most common method for retail investors. Most major brokerage firms allow you to search for Illinois-specific bonds on their platforms. Buying Through a Brokerage To buy Illinois bonds,
: Use your broker's search tools (like the Charles Schwab Fixed Income Table or Fidelity's Bond Screener) to filter for "Illinois" and "Municipal" bonds.
: While individual bonds often require a $5,000 minimum investment, funds often allow you to start with much smaller amounts. 3. Participating in New State Issuances