summary
Introduced
01/24/2023
01/24/2023
In Committee
01/31/2023
01/31/2023
Crossed Over
Passed
Dead
01/08/2025
01/08/2025
Introduced Session
103rd General Assembly
Bill Summary
Amends the Illinois Housing Development Act. Provides that the Illinois Housing Development Authority shall develop a form that summarizes the terms of each financing agreement entered into under the Act and shall include the form with the final financing agreement. Effective immediately.
AI Summary
This bill amends the Illinois Housing Development Act to require the Illinois Housing Development Authority to develop a form that summarizes the terms of each financing agreement it enters into, including the length of the affordability period, a legal description of the property, and any other information needed for a local county assessor's office or housing authority to assess eligibility for a reduction in the assessed value of the property. The nonprofit, housing corporation, limited-profit entity, or developer receiving the financing must file the form with the local county assessor's office and housing authority, and no fees may be charged for filing the form.
Sponsors (1)
Last Action
Session Sine Die (on 01/07/2025)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1395&GAID=17&DocTypeID=HB&SessionID=112&GA=103 |
| BillText | https://www.ilga.gov/legislation/103/HB/10300HB1395.htm |
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