Bill > SB1927

This bill appropriates $10 million from the General Revenue Fund to the Illinois Housing Development Authority (IHDA) specifically for the Illinois Middle-Income Housing Grant Pilot Program. The bill provides funding to support housing initiatives targeting middle-income residents, with the appropriation taking effect on July 1, 2025. By allocating these funds, the state aims to address housing affordability challenges for households that may earn too much to qualify for traditional low-income housing assistance but still struggle to find affordable housing options. The pilot program suggests this is an experimental initiative designed to test innovative approaches to middle-income housing support, with the potential to inform future housing policy and investment strategies in Illinois.

Budget and Finance

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1927&GAID=18&DocTypeID=SB&SessionID=114&GA=104