SB3046 98TH GENERAL ASSEMBLY

LRB098 19135 KTG 54287 b

98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014
SB3046

Introduced 2/7/2014, by Sen. William R. Haine

SYNOPSIS AS INTRODUCED:

310 ILCS 65/2

from Ch. 67 1/2, par. 1252

Amends the Illinois Affordable Housing Act. Makes a technical change in a Section concerning legislative findings and declarations.

A BILL FOR

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 2 as follows:

(310 ILCS 65/2) (from Ch. 67 1/2, par. 1252)

Sec. 2. Legislative findings and declarations. It is hereby found and and declared that an acute shortage of affordable housing exists in the State of Illinois; and that this crisis has been exacerbated by a sharp reduction in federal funding for affordable housing, by the potential prepayment of subsidized federal mortgages, and by an inability on the part of local government to meet this need. New State resources must therefore be directed to alleviate the shortage of affordable housing. It is further intended that limited new State resources be allocated in a manner that maximizes collaboration among federal, State and local agencies as well as the private sector.

(Source: P.A. 86-925.)