HOME BUYER SAVINGS ACCOUNT ACT Senate SponsorsSen. Mattie Hunter-Cristina Castro and Natalie Toro 1/7/2025SenateSession Sine Die New Act65 ILCS 5/11-13-28 new65 ILCS 5/11-13-29 new20 ILCS 686/110 new605 ILCS 5/5-907from Ch. 121, par. 5-907605 ILCS 5/5-918from Ch. 121, par. 5-918605 ILCS 5/5-918.1 newCreates the Home Buyer Savings Account Act. Sets forth provisions concerning legislative findings; establishment of first-time and second-chance home buyer savings accounts; use of first-time and second-chance home buyer savings accounts; account holder responsibilities; responsibilities of financial institutions; deduction of contributions, exclusion of earnings, and limitations; penalty for withdrawal; Department of Revenue forms; and an annual report. Defines terms. Amends the Illinois Municipal Code. Sets forth provisions concerning accessory dwelling units and housing. Amends the Reimagining Electric Vehicles in Illinois Act. Provides that the Department of Commerce and Economic Opportunity shall establish a pilot grant program to encourage the construction and rehabilitation of housing located near a REV Illinois Project. Amends the Illinois Highway Code. Sets forth provisions concerning units of local government which have in effect an impact fee ordinance or resolution. Makes other changes. 2/10/2023SenateFiled with Secretary by Sen. Mattie Hunter 2/10/2023SenateFirst Reading 2/10/2023SenateReferred to Assignments 2/21/2023SenateAdded as Chief Co-Sponsor Sen. Cristina Castro 10/19/2023SenateAdded as Co-Sponsor Sen. Natalie Toro 1/7/2025SenateSession Sine Die