Bill Text: IL HB3291 | 2023-2024 | 103rd General Assembly | Introduced

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Bill Title: 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.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced) 2023-05-19 - Rule 19(a) / Re-referred to Rules Committee [HB3291 Detail]

Download: Illinois-2023-HB3291-Introduced.html

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103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB3291 Introduced , 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.
LRB103 30435 KTG 56866 b
A BILL FOR
HB3291 LRB103 30435 KTG 56866 b
AN ACT concerning housing.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Illinois Affordable Housing Act is amended
by changing Section 17 as follows:
(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 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.

HB3291 - 2 - LRB103 30435 KTG 56866 b
(Source: P.A. 86-925.)