|
| | 103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
HB3291 Introduced 2/17/2023, by Rep. Theresa Mah SYNOPSIS AS INTRODUCED:
|
|
310 ILCS 65/17 | from Ch. 67 1/2, par. 1267 |
|
Amends the Illinois Affordable Housing Act. Provides that 1% of 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.
|
| |
| | A BILL FOR |
|
|
| | HB3291 | | LRB103 30435 KTG 56866 b |
|
|
| 1 | | AN ACT concerning housing.
|
| 2 | | Be it enacted by the People of the State of Illinois,
|
| 3 | | represented in the General Assembly:
|
| 4 | | Section 5. The Illinois Affordable Housing Act is amended |
| 5 | | by changing Section 17 as follows:
|
| 6 | | (310 ILCS 65/17) (from Ch. 67 1/2, par. 1267)
|
| 7 | | Sec. 17. Annual Budget and Report. |
| 8 | | (a) Within 9 months after the
effective date of this Act, |
| 9 | | the Commission shall prepare a plan
listing available |
| 10 | | resources, priorities for expenditures, and procedures for
|
| 11 | | making application for grants and loans. The plan shall be |
| 12 | | published in the
Illinois Register. Such a plan shall be |
| 13 | | prepared annually and published
for each succeeding year.
|
| 14 | | (b) Within 60 days of the end of each fiscal year, the |
| 15 | | Commission shall
prepare a report to the General Assembly |
| 16 | | describing the activities of the
Affordable Housing Program |
| 17 | | for the preceding year.
|
| 18 | | (c) 1% of the annual proposed budget stemming from the |
| 19 | | plan shall be allocated to support limited-equity cooperative |
| 20 | | housing through programs and subsidies for cooperative |
| 21 | | homebuyer assistance, building acquisition and renovation, |
| 22 | | assistance with monthly housing charges, predevelopment |
| 23 | | funding, and technical assistance. |