Bill Text: IL SB3738 | 2009-2010 | 96th General Assembly | Engrossed
Bill Title: Amends the Illinois Housing Development Act to authorize the Illinois Housing Authority to establish and administer a foreclosure prevention counseling program using moneys in the Foreclosure Prevention Counseling Fund, appropriated for that purpose, to make grants to HUD-certified housing counseling agencies to support pre-purchase and post-purchase home ownership education and foreclosure prevention counseling. Amends the State Finance Act to create the Foreclosure Prevention Counseling Fund. Provides that 75% of the moneys in this Fund shall be used for housing counseling outside Chicago and 25% of the moneys shall be used for such counseling in Chicago. Effective immediately.
Spectrum: Partisan Bill (Democrat 13-0)
Status: (Engrossed - Dead) 2010-04-15 - Added Alternate Chief Co-Sponsor Rep. Al Riley [SB3738 Detail]
Download: Illinois-2009-SB3738-Engrossed.html
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| 1 | AN ACT concerning foreclosure.
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| 2 | Be it enacted by the People of the State of Illinois,
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| 3 | represented in the General Assembly:
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| 4 | Section 5. The Illinois Housing Development Act is amended | ||||||
| 5 | by adding Section 7.30 as follows:
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| 6 | (20 ILCS 3805/7.30 new) | ||||||
| 7 | Sec. 7.30. Foreclosure prevention counseling program. | ||||||
| 8 | Subject to appropriation, the Authority shall establish and | ||||||
| 9 | administer a foreclosure
prevention counseling program. The | ||||||
| 10 | Authority shall use moneys
in the Foreclosure Prevention | ||||||
| 11 | Counseling Fund, and any other
funds appropriated for this | ||||||
| 12 | purpose, to make grants to
HUD-certified housing counseling | ||||||
| 13 | agencies to support
pre-purchase and post-purchase | ||||||
| 14 | home-ownership education and
foreclosure prevention counseling | ||||||
| 15 | activities under the
program.
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| 16 | Section 10. The State Finance Act is amended by adding | ||||||
| 17 | Sections 5.755 and 6z-82 as follows:
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| 18 | (30 ILCS 105/5.755 new) | ||||||
| 19 | Sec. 5.755. The Foreclosure Prevention Counseling Fund.
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| 20 | (30 ILCS 105/6z-82 new) | ||||||
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| 1 | Sec. 6z-82. The Foreclosure Prevention Counseling Fund. | ||||||
| 2 | (a) There is created in the State treasury a special fund
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| 3 | to be known as the Foreclosure Prevention Counseling Fund. The | ||||||
| 4 | Fund shall consist of moneys appropriated by the General | ||||||
| 5 | Assembly. | ||||||
| 6 | (b) Moneys in the Fund shall be used as follows: | ||||||
| 7 | (1) 75% of the moneys in the Fund shall be used to make | ||||||
| 8 | grants to
HUD-certified housing counseling agencies that | ||||||
| 9 | provide services outside the City of Chicago and across the | ||||||
| 10 | State, as provided in Section 7.30 of the Illinois Housing | ||||||
| 11 | Development Act. Grants made by the Illinois Housing | ||||||
| 12 | Development Authority shall be based upon the number of
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| 13 | foreclosures filed in a HUD-certified counseling agency's | ||||||
| 14 | service area, the capacity of a HUD-certified housing | ||||||
| 15 | counseling agency to provide foreclosure counseling | ||||||
| 16 | services, and any other facts that the Illinois Housing | ||||||
| 17 | Development Authority deems appropriate. | ||||||
| 18 | (2) The remaining moneys shall be distributed to the | ||||||
| 19 | City of Chicago to provide grants to HUD-certified housing | ||||||
| 20 | counseling agencies located within the City of Chicago to | ||||||
| 21 | support pre-purchase and post-purchase home-ownership | ||||||
| 22 | education and foreclosure prevention counseling activities | ||||||
| 23 | under programs administered by the City of Chicago.
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| 24 | Section 99. Effective date. This Act takes effect upon | ||||||
| 25 | becoming law.
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