103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
HB3291

 

Introduced 2/17/2023, by Rep. Theresa Mah

 

SYNOPSIS AS INTRODUCED:
 
310 ILCS 65/17  from Ch. 67 1/2, par. 1267

    Amends the Illinois Affordable Housing Act. Provides that 1% of the annual proposed budget stemming from the plan shall be allocated to support limited-equity cooperative housing through programs and subsidies for cooperative homebuyer assistance, building acquisition and renovation, assistance with monthly housing charges, predevelopment funding, and technical assistance.


LRB103 30435 KTG 56866 b

 

 

A BILL FOR

 

HB3291LRB103 30435 KTG 56866 b

1    AN ACT concerning housing.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Illinois Affordable Housing Act is amended
5by changing Section 17 as follows:
 
6    (310 ILCS 65/17)  (from Ch. 67 1/2, par. 1267)
7    Sec. 17. Annual Budget and Report.
8    (a) Within 9 months after the effective date of this Act,
9the Commission shall prepare a plan listing available
10resources, priorities for expenditures, and procedures for
11making application for grants and loans. The plan shall be
12published in the Illinois Register. Such a plan shall be
13prepared annually and published for each succeeding year.
14    (b) Within 60 days of the end of each fiscal year, the
15Commission shall prepare a report to the General Assembly
16describing the activities of the Affordable Housing Program
17for the preceding year.
18    (c) 1% of the annual proposed budget stemming from the
19plan shall be allocated to support limited-equity cooperative
20housing through programs and subsidies for cooperative
21homebuyer assistance, building acquisition and renovation,
22assistance with monthly housing charges, predevelopment
23funding, and technical assistance.

 

 

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1(Source: P.A. 86-925.)