Synopsis As Introduced Amends the Illinois Housing Development Act. Provides that, subject to appropriations for that purpose, the Illinois Housing Development Authority may make, purchase, or participate in mortgage loans to parents of children with disabilities to finance the purchase of residential real property. Provides that loans shall be secured as determined by the Authority and may be in a principal amount, bear interest at a rate, have other terms and conditions, and be repaid within a period as the Authority determines.
House Committee Amendment No. 1 Provides that neither the Governor nor any agency or agency head under the jurisdiction of the Governor has any rulemaking authority under the amendatory Act, but that the Governor may suggest rules by filing them with the General Assembly and requesting that the General Assembly authorize such rulemaking by law, enact the suggested rules into law, or take other appropriate action in the General Assembly's discretion.
House Floor Amendment No. 2 Provides for loans to parents of children with disabilities "or with mental illness". Deletes provisions authorizing the Illinois Housing Development Authority to adopt rules to implement the amendatory provisions.