96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
SB1588

 

Introduced 2/19/2009, by Sen. Bill Brady

 

SYNOPSIS AS INTRODUCED:
 
20 ILCS 3805/7.24i new

    Amends the Illinois Housing Development Act. Provides that the Illinois Housing Development Authority shall not acquire, and contract and enter into, any commitment to acquire a residential mortgage from a lending institution and shall not make any loan to a lending institution or individual if the residential mortgage is for any individual who is not a citizen or legal resident of the United States. Effective immediately.


LRB096 09085 JAM 19226 b

FISCAL NOTE ACT MAY APPLY

 

 

A BILL FOR

 

SB1588 LRB096 09085 JAM 19226 b

1     AN ACT concerning State government.
 
2     Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
 
4     Section 5. The Illinois Housing Development Act is amended
5 by adding Section 7.24i as follows:
 
6     (20 ILCS 3805/7.24i new)
7     Sec. 7.24i. Citizenship or legal residency required.
8 Notwithstanding any other provision of law to the contrary, the
9 Authority shall not acquire, and contract and enter into, any
10 commitment to acquire a residential mortgage from a lending
11 institution and shall not make any loan to a lending
12 institution or individual if the residential mortgage is for
13 any individual who is not a citizen or legal resident of the
14 United States.
 
15     Section 99. Effective date. This Act takes effect upon
16 becoming law.