Illinois General Assembly - Bill Status for HB5506

Creates the Senior Home Preservation Program Act. Requires the Department of Human Services to implement and administer the Senior Home Preservation Program to provide grants to agencies to provide minor rehabilitation services to legacy resident low-income senior homeowners to preserve the habitability and safety of their homes. Provides that grants may be used for housing owned by eligible seniors to reduce the cost of repair and rehabilitation, to remove or correct health or safety hazards, to comply with applicable housing standards or codes, or to make needed repairs to improve the general living conditions of the seniors including improved accessibility for seniors with disabilities. Provides that "legacy resident senior homeowner" means any person 62 years of age or older or 55 and older with a disability who has lived in a community family home (single-family home or owner-occupied building of up to 4 units) for at least 10 years. Defines other terms. Creates the Senior Home Preservation Program Fund as a special fund in the State treasury for the purpose of provide grants to agencies to provide minor rehabilitation services to eligible senior homeowners to preserve the habitability and safety of their homes. Amends the State Finance Act to include the fund as a special fund.

Changes the definition of "low-income" to mean a household income that does not exceed 80% of area median income instead of 200%. Changes the definition of "minor rehabilitation services" to mean that the services may not exceed $40,000 per unit instead of $20,000.

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