Illinois General Assembly - Illinois Compiled Statutes

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310 ILCS 65/17

(310 ILCS 65/17) (from Ch. 67 1/2, par. 1267)

Sec. 17. Annual budget and report.

(a) Within 9 months after the
effective date of this Act, the Commission shall prepare a plan
listing available resources, priorities for expenditures, and procedures for
making application for grants and loans. The plan shall be published in the
Illinois Register.  Such a plan shall be prepared annually and published
for each succeeding year.

(b) Within 60 days of the end of each fiscal year, the Commission shall
prepare a report to the General Assembly describing the activities of the
Affordable Housing Program for the preceding year.

(c) 1% of permitted funds within 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.

(Source: P.A. 103-8, eff. 6-7-23.)