Illinois General Assembly - Bill Status for HB4921
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 Bill Status of HB4921  103rd General Assembly

Short Description:  HOME EQUITY ASSURANCE-LOANS

House Sponsors
Rep. Lindsey LaPointe - Will Guzzardi - Eva-Dina Delgado - Aaron M. Ortiz - Angelica Guerrero-Cuellar, Theresa Mah, Lilian Jiménez, Sonya M. Harper and Brad Stephens

Senate Sponsors
(Sen. Robert F. Martwick, Cristina Castro, Rachel Ventura, Adriane Johnson, Mary Edly-Allen and Emil Jones, III)

Last Action
DateChamber Action
  8/5/2024HousePublic Act . . . . . . . . . 103-0737

Statutes Amended In Order of Appearance
65 ILCS 95/11from Ch. 24, par. 1611


Synopsis As Introduced
Amends the Home Equity Assurance Act. In provisions authoring a governing commission with no less than $4,000,000 in its guarantee fund to establish a Low Interest Home Improvement Loan Program, provides that the loan may be used for repair or maintenance of a guaranteed residence's water and sewer pipes and repair of a guaranteed residence, including, but not limited to, basement repairs, following flooding damage or other natural disaster damage to the property (rather than following flooding damage to the property). Provides that a commission may use loan funds to issue a grant or rebate for repairs, maintenance, remodeling, alteration, or improvement of a guaranteed residence for purposes of preventing or repairing damage as a result of a natural disaster, including, but not limited to, flooding.

Actions 
DateChamber Action
  2/7/2024HouseFiled with the Clerk by Rep. Lindsey LaPointe
  2/7/2024HouseFirst Reading
  2/7/2024HouseReferred to Rules Committee
  3/5/2024HouseAssigned to Housing
  3/21/2024HouseAdded Chief Co-Sponsor Rep. Will Guzzardi
  3/21/2024HouseDo Pass / Short Debate Housing; 012-005-000
  3/21/2024HousePlaced on Calendar 2nd Reading - Short Debate
  4/11/2024HouseSecond Reading - Short Debate
  4/11/2024HousePlaced on Calendar Order of 3rd Reading - Short Debate
  4/16/2024HouseAdded Co-Sponsor Rep. Theresa Mah
  4/16/2024HouseAdded Co-Sponsor Rep. Lilian Jiménez
  4/16/2024HouseAdded Co-Sponsor Rep. Sonya M. Harper
  4/16/2024HouseAdded Co-Sponsor Rep. Brad Stephens
  4/16/2024HouseAdded Chief Co-Sponsor Rep. Eva-Dina Delgado
  4/16/2024HouseAdded Chief Co-Sponsor Rep. Aaron M. Ortiz
  4/16/2024HouseAdded Chief Co-Sponsor Rep. Angelica Guerrero-Cuellar
  4/16/2024HouseThird Reading - Short Debate - Passed 073-038-000
  4/17/2024SenateArrive in Senate
  4/17/2024SenatePlaced on Calendar Order of First Reading
  4/17/2024SenateChief Senate Sponsor Sen. Robert F. Martwick
  4/17/2024SenateFirst Reading
  4/17/2024SenateReferred to Assignments
  4/24/2024SenateAssigned to Judiciary
  5/1/2024SenateDo Pass Judiciary; 009-000-000
  5/1/2024SenatePlaced on Calendar Order of 2nd Reading May 2, 2024
  5/2/2024SenateSecond Reading
  5/2/2024SenatePlaced on Calendar Order of 3rd Reading May 7, 2024
  5/15/2024SenateThird Reading - Passed; 040-015-000
  5/15/2024HousePassed Both Houses
  5/24/2024SenateAdded as Alternate Co-Sponsor Sen. Cristina Castro
  5/24/2024SenateAdded as Alternate Co-Sponsor Sen. Rachel Ventura
  5/24/2024SenateAdded as Alternate Co-Sponsor Sen. Adriane Johnson
  5/24/2024SenateAdded as Alternate Co-Sponsor Sen. Mary Edly-Allen
  5/25/2024SenateAdded as Alternate Co-Sponsor Sen. Emil Jones, III
  6/13/2024HouseSent to the Governor
  8/2/2024HouseGovernor Approved
  8/2/2024HouseEffective Date January 1, 2025
  8/5/2024HousePublic Act . . . . . . . . . 103-0737

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