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95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008 HB0728
Introduced 2/7/2007, by Rep. Arthur L. Turner SYNOPSIS AS INTRODUCED: |
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35 ILCS 200/31-10 |
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35 ILCS 200/31-15 |
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310 ILCS 65/3 |
from Ch. 67 1/2, par. 1253 |
310 ILCS 65/8 |
from Ch. 67 1/2, par. 1258 |
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Amends the Real Estate Transfer Tax Law in the Property Tax Code. Makes changes to the amount of the tax imposed based upon the amount set forth in the transfer declaration. Amends the Illinois Affordable Housing Act. Requires that 20% of the moneys appropriated to the Affordable Housing Program Trust Fund be used to pay costs of crediting or preserving permanent supportive housing and sets forth requirements for these expenditures. Defines "permanent supportive housing". Makes other changes.
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FISCAL NOTE ACT MAY APPLY | |
HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY |
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A BILL FOR
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HB0728 |
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LRB095 05341 BDD 31041 b |
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| AN ACT concerning housing.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 5. The Property Tax Code is amended by changing |
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| Sections 31-10 and 31-15 as follows: |
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| (35 ILCS 200/31-10)
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| Sec. 31-10. Imposition of tax. |
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| (a) A tax is imposed on the privilege of
transferring title |
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| to real estate located in Illinois, on the privilege of |
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| transferring a beneficial interest in
real
property located in |
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| Illinois,
and on the privilege of transferring a controlling |
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| interest in a real estate
entity owning property located in |
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| Illinois,
at the rate of :
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| (1) $0. 40
50¢ for each $500 of
value or fraction of |
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| $500 not in excess of $500,000 stated in the declaration |
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| required by Section 31-25 ; . |
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| (2) $1.50 for each $500 of value or fraction of $500 in |
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| excess of $500,000 but not in excess of $1,000,000 stated |
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| in the declaration required by Section 31-25; |
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| (3) $3.50 for each $500 of value or fraction of $500 in |
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| excess of $1,000,000 but not in excess of $3,000,000 stated |
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| in the declaration required by Section 31-25; and |
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| (4) $5.00 for each $500 of value or fraction of $500 in |
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LRB095 05341 BDD 31041 b |
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| excess of $3,000,000 stated in the declaration required by |
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| Section 31-25.
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| (b) If, however, the transferring document states that the |
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| real estate, beneficial interest, or
controlling interest
is
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| transferred subject to a mortgage, the amount of the mortgage |
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| remaining
outstanding at the time of transfer shall not be |
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| included in the basis of
computing the tax.
The tax is due if |
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| the transfer is made
by one or more related transactions or |
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| involves one or more persons or entities
and whether or
not a |
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| document is recorded.
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| (Source: P.A. 93-657, eff. 6-1-04; 93-1099, eff. 6-1-05 .)
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| (35 ILCS 200/31-15)
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| Sec. 31-15. Collection of tax. The tax shall be collected |
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| by the recorder
or registrar of titles of the county in which |
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| the property is situated through the sale of revenue
stamps, |
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| the design, denominations and form of which shall be prescribed |
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| by the
Department. If requested by the recorder or registrar of |
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| titles of a county
that has imposed a county real estate |
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| transfer tax under Section 5-1031 of the
Counties Code, the |
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| Department shall design the stamps furnished to that county
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| under this Section so that the same stamp also provides |
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| evidence of the payment
of the county real estate transfer tax |
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| and shall include in the design of the
stamp the name of the |
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| county and an indication that the stamp is evidence of
the |
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| payment of both State and county real estate transfer taxes. |
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| The revenue
stamps shall be sold by the Department to the |
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| recorder or registrar
of titles who shall cause them to be sold |
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| for the purposes prescribed.
The Department shall charge the |
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| rates imposed under Section 31-10
at a rate of 50¢ per $500 of |
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| value in
units of not less than $500. The recorder or registrar |
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| of titles of the several
counties shall sell the revenue stamps |
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| at the rates imposed under Section 31-10
a rate of 50¢ per $500 |
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| of
value or fraction of $500 . The recorder or registrar of |
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| titles may use the
proceeds for the purchase of revenue stamps |
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| from the Department. The Department must establish a system to |
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| allow the recorder or registrar
of titles to purchase the |
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| revenue stamps electronically and must deliver the |
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| electronically purchased stamps to the recorder or registrar
of |
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| titles.
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| (Source: P.A. 94-785, eff. 1-1-07.)
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| Section 10. The Illinois Affordable Housing Act is amended |
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| by changing Sections 3 and 8 as follows:
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| (310 ILCS 65/3) (from Ch. 67 1/2, par. 1253)
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| Sec. 3. Definitions. As used in this Act:
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| (a) "Program" means the Illinois Affordable Housing |
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| Program.
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| (b) "Trust Fund" means the Illinois Affordable Housing |
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| Trust Fund.
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| (c) "Low-income household" means a single person, family or |
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| unrelated
persons living together whose adjusted income is more |
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| than 50%, but less than
80%, of the median income of the area |
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| of residence, adjusted for family
size, as such adjusted income |
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| and median income for the area are determined
from time to time |
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| by the United States Department of Housing and Urban
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| Development for purposes of Section 8 of the United States |
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| Housing Act of 1937.
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| (d) "Very low-income household" means a single person, |
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| family or
unrelated persons living together whose adjusted |
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| income is not more than
50% of the median income of the area of |
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| residence, adjusted for family
size, as such adjusted income |
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| and median income for the area are determined
from time to time |
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| by the United States Department of Housing and Urban
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| Development for purposes of Section 8 of the United States |
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| Housing Act of 1937.
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| (e) "Affordable housing" means residential housing that, |
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| so long as the
same is occupied by low-income households or |
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| very low-income households,
requires payment of monthly |
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| housing costs, including utilities other than
telephone, of no |
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| more than 30% of the maximum allowable income as stated
for |
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| such households as defined in this Section ; for residential |
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| housing occupied by extremely low-income households, payment |
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| of monthly housing costs, including utilities other than |
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| telephone, of no more than 30% of the maximum allowable income |
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| is the targeted guideline .
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| (f) "Multi-family housing" means a building or buildings |
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| providing
housing to 5 or more households.
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| (g) "Single-family housing" means a building containing |
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| one to 4
dwelling units, including a mobile home as defined in |
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| subsection (b) of
Section 3 of the Mobile Home Landlord and |
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| Tenant Rights Act, as
amended.
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| (h) "Community-based organization" means a not-for-profit |
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| entity whose
governing body includes a majority of members who |
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| reside in the community
served by the organization.
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| (i) "Advocacy organization" means a not-for-profit |
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| organization which
conducts, in part or in whole, activities to |
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| influence public policy on
behalf of low-income or very |
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| low-income households.
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| (j) "Program Administrator" means the Illinois Housing |
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| Development
Authority.
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| (k) "Funding Agent" means the Illinois Department of |
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| Revenue.
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| (l) "Commission" means the Affordable Housing Advisory |
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| Commission.
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| (m) "Congregate housing" means a building or structure in |
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| which 2 or
more households, inclusive, share common living |
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| areas and may share child
care, cleaning, cooking and other |
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| household responsibilities.
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| (n) "Eligible applicant" means a proprietorship, |
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| partnership, for-profit
corporation, not-for-profit |
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| corporation or unit of local government which
seeks to use fund |
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| assets as provided in this Article.
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LRB095 05341 BDD 31041 b |
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| (o) "Moderate income household" means a single person, |
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| family or
unrelated persons living together whose adjusted |
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| income is more than 80%
but less than 120% of the median income |
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| of the area of residence, adjusted
for family size, as such |
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| adjusted income and median income for the area are
determined |
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| from time to time by the United States Department of Housing |
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| and
Urban Development for purposes of Section 8 of the United |
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| States Housing
Act of 1937.
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| (p) "Affordable Housing Program Trust Fund Bonds or Notes" |
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| means the bonds
or notes issued by the Program Administrator |
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| under the Illinois Housing
Development Act to further the |
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| purposes of this Act.
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| (q) "Trust Fund Moneys" means all moneys, deposits, |
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| revenues, income,
interest, dividends, receipts, taxes, |
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| proceeds and other amounts or funds
deposited or to be |
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| deposited in the Trust Fund pursuant to Section 5(b) of this
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| Act and any proceeds, investments or increase thereof.
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| (r) "Program Escrow" means accounts, except those accounts |
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| relating to any
Affordable Housing Program Trust Fund Bonds or |
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| Notes, designated by the Program
Administrator, into which |
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| Trust Fund Moneys are deposited.
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| (s) "Extremely low-income household" means a single |
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| person, a family, or unrelated persons living together whose |
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| adjusted income is not more than 30% of the median income of |
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| the area of residence, adjusted for family size, as such |
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| adjusted income and median income for the area are determined |
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LRB095 05341 BDD 31041 b |
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| from time to time by the United States Department of Housing |
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| and Urban Development for purposes of Section 8 of the United |
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| States Housing Act of 1937. |
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| (t) "Household with special needs" means a household that |
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| is homeless or imminently at risk of becoming homeless; or that |
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| is or is imminently at risk of living in institutional settings |
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| because of the unavailability of suitable housing; or that has |
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| one or more members with disabilities, including but not |
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| limited to physical disabilities, developmental disabilities, |
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| mental illness, or HIV/AIDS. |
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| (u) "Supportive services" means a flexible array of |
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| comprehensive services provided to households with special |
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| needs that may include case management; mental health |
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| counseling; substance abuse counseling; medical services; |
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| training in basic living skills, such as money management and |
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| household establishment; and employment counseling and |
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| training. "Supportive services", however, does not include |
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| personal care assistance. |
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| (v) "Permanent supportive housing" means affordable |
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| housing where an extremely low-income household with special |
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| needs has a lease or similar form of occupancy agreement under |
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| which the tenancy is renewable so long as the tenant abides by |
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| the conditions of the lease or occupancy agreement and where |
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| the permanent supportive housing provider guarantees all its |
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| households access to voluntary on-site or off-site supportive |
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| services closely connected to the housing.
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LRB095 05341 BDD 31041 b |
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| (Source: P.A. 91-357, eff. 7-29-99.)
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| (310 ILCS 65/8) (from Ch. 67 1/2, par. 1258)
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| Sec. 8. Uses of Trust Fund.
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| (a) Subject to annual appropriation to
the Funding Agent |
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| and subject to the prior dedication, allocation, transfer
and |
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| use of Trust Fund Moneys as provided in Sections 8(b), 8(c) and |
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| 9 of this
Act, the Trust Fund may be used to make grants,
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| mortgages, or
other loans to acquire, construct, rehabilitate, |
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| develop, operate, insure,
and retain affordable single-family |
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| and multi-family housing in this State
for low-income ,
and very |
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| low-income , and extremely low-income households. The majority |
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| of monies appropriated to the
Trust Fund in any given year are |
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| to be used for affordable housing for very
low-income |
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| households. For the fiscal year beginning July 1, 2006 only, |
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| the Department of Human Services is authorized to receive |
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| appropriations and spend moneys from the Illinois Affordable |
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| Housing Trust Fund for the purpose of developing and |
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| coordinating public and private resources targeted to meet the |
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| affordable housing needs of low-income, very low-income, and |
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| special needs households in the State of Illinois.
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| (b) For each fiscal year commencing with fiscal year 1994, |
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| the Program
Administrator shall certify from time to time to |
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| the Funding Agent, the
Comptroller and the State
Treasurer |
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| amounts, up to an aggregate in any fiscal year of $10,000,000, |
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| of
Trust Fund Moneys expected to be used or pledged by the |
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LRB095 05341 BDD 31041 b |
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| Program Administrator
during the fiscal year for the purposes |
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| and uses specified in Sections 8(c) and
9 of this Act. Subject |
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| to annual appropriation, upon receipt of such
certification, |
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| the Funding Agent and the
Comptroller shall dedicate and the |
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| State Treasurer shall transfer not less
often than monthly to |
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| the Program Administrator or its designated payee,
without |
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| requisition or further
request therefor, all amounts |
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| accumulated in the Trust Fund within the State
Treasury and not |
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| already transferred to the Loan Commitment Account prior to
the |
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| Funding Agent's receipt of such certification, until the |
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| Program
Administrator has received the aggregate amount |
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| certified by the Program
Administrator, to be used solely for |
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| the purposes and uses authorized and
provided in Sections 8(c) |
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| and 9 of this Act. Neither the Comptroller nor the
Treasurer |
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| shall transfer, dedicate or allocate any of the Trust Fund |
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| Moneys
transferred or certified for transfer by the Program |
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| Administrator as provided
above to any other fund, nor shall |
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| the Governor authorize any such transfer,
dedication or |
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| allocation, nor shall any of the Trust Fund Moneys so |
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| dedicated,
allocated or transferred be used, temporarily or |
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| otherwise, for interfund
borrowing, or be otherwise used or |
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| appropriated, except as expressly authorized
and provided in |
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| Sections 8(c) and 9 of this Act for the purposes and subject to
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| the priorities, limitations and conditions provided for |
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| therein until such
obligations, uses and dedications as therein |
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| provided, have been satisfied.
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LRB095 05341 BDD 31041 b |
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| (c) Notwithstanding Section 5(b) of this Act, any Trust |
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| Fund Moneys
transferred to the Program Administrator pursuant |
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| to Section 8(b) of this Act,
or otherwise obtained, paid to or |
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| held by or for the Program Administrator, or
pledged pursuant |
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| to resolution of the Program Administrator, for Affordable
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| Housing Program Trust Fund Bonds or Notes under the Illinois |
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| Housing
Development Act, and all proceeds, payments and |
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| receipts from investments or
use of such moneys, including any |
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| residual or additional funds or moneys
generated or obtained in |
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| connection with any of the foregoing, may be held,
pledged, |
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| applied or dedicated by the Program Administrator as follows:
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| (1) as required by the terms of any pledge of or |
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| resolution of the Program
Administrator authorized under |
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| Section 9 of this Act in connection with
Affordable Housing |
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| Program Trust Fund Bonds or Notes issued pursuant to the
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| Illinois Housing Development Act;
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| (2) to or for costs of issuance and administration
and |
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| the payments of any principal, interest, premium or other |
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| amounts or
expenses incurred or accrued in connection with |
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| Affordable Housing Program
Trust Fund Bonds or Notes, |
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| including rate protection contracts and credit
support |
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| arrangements pertaining thereto, and, provided such |
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| expenses, fees and
charges are obligations, whether |
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| recourse or nonrecourse, and whether financed
with or paid |
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| from the proceeds of Affordable Housing Program Trust Fund |
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| Bonds
or Notes, of the developers, mortgagors or other |
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LRB095 05341 BDD 31041 b |
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| users, the Program
Administrator's expenses and servicing, |
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| administration and origination fees and
charges in |
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| connection with any loans, mortgages, or developments |
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| funded or
financed or expected to be funded or financed, in |
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| whole or in part, from the
issuance of Affordable Housing |
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| Program Trust Fund Bonds or Notes;
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| (3) to or for costs of issuance and administration and |
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| the payments of
principal, interest, premium, loan fees, |
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| and other amounts or other obligations
of the Program |
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| Administrator, including rate protection contracts and |
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| credit
support arrangements pertaining thereto, for loans, |
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| commercial paper or other
notes or bonds issued by the |
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| Program Administrator pursuant to the Illinois
Housing |
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| Development Act, provided that the proceeds of such loans, |
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| commercial
paper or other notes or bonds are paid or |
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| expended in connection with, or
refund or repay, loans, |
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| commercial paper or other notes or bonds issued or made
in |
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| connection with bridge loans or loans for the construction, |
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| renovation,
redevelopment, restructuring, reorganization |
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| of Affordable Housing and related
expenses, including |
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| development costs, technical assistance, or other amounts
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| to construct, preserve, improve, renovate, rehabilitate, |
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| refinance, or assist
Affordable Housing, including |
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| financially troubled Affordable Housing,
permanent or |
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| other financing for which has been funded or financed or is
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| expected to be funded or financed in whole or in part by |
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| the Program
Administrator through the issuance of or use of |
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| proceeds from Affordable
Housing Program Trust Fund Bonds |
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| or Notes;
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| (4) to or for direct expenditures or reimbursement for |
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| development costs,
technical assistance, or other amounts |
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| to construct, preserve, improve,
renovate, rehabilitate, |
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| refinance, or assist Affordable Housing, including
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| financially troubled Affordable Housing, permanent or |
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| other financing for which
has been funded or financed or is |
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| expected to be funded or financed in whole or
in part by |
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| the Program Administrator through the issuance of or use of |
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| proceeds
from Affordable Housing Program Trust Fund Bonds |
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| or Notes; and
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| (5) for deposit into any residual, sinking, reserve or |
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| revolving fund or
pool established by the Program |
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| Administrator, whether or not pledged to secure
Affordable |
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| Housing Program Trust Fund Bonds or Notes, to support or be
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| utilized for the
issuance, redemption, or payment of the |
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| principal, interest, premium or other
amounts payable on or |
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| with respect to any existing, additional or future
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| Affordable Housing Program Trust Fund Bonds or Notes, or to |
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| or for any other
expenditure authorized by this Section |
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| 8(c).
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| (d) All or a portion of the Trust Fund Moneys on
deposit or |
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| to be
deposited in
the Trust Fund not already certified for |
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| transfer or transferred to the
Program Administrator pursuant |
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LRB095 05341 BDD 31041 b |
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| to Section 8(b) of this Act may be used to
secure the repayment |
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| of Affordable Housing Program Trust Fund Bonds or
Notes, or |
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| otherwise to supplement or support Affordable Housing funded or
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| financed
or
intended to be funded or financed, in whole or in |
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| part, by Affordable Housing
Program Trust Fund Bonds or Notes.
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| (e) Assisted housing may include housing for special needs
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| populations
such as the homeless, single-parent families, the |
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| elderly, or the
physically and mentally disabled. The Trust |
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| Fund shall be used to
implement a demonstration congregate |
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| housing project for any such special
needs population.
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| (f) Grants from the Trust Fund may include, but are not |
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| limited
to,
rental assistance and security deposit subsidies |
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| for low and very low-income
households.
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| (g) The Trust Fund may be used to pay actual and reasonable
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| costs for
Commission members to attend Commission meetings, and |
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| any litigation costs
and expenses, including legal fees, |
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| incurred by the Program Administrator
in any litigation related |
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| to this Act or its action as Program
Administrator.
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| (h) The Trust Fund may be used to make grants for (1) the
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| provision of
technical assistance, (2) outreach, and (3) |
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| building an organization's
capacity to develop affordable |
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| housing projects.
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| (i) Amounts on deposit in the Trust Fund may be used to |
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| reimburse the
Program
Administrator and the Funding Agent for |
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| costs incurred in the performance of
their duties under this |
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| Act, excluding costs and fees of the Program
Administrator |
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| associated with the Program Escrow to the extent withheld
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| pursuant to paragraph (8) of subsection (b) of Section 5.
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| (j) 20% of the funds appropriated to the Trust Fund in any |
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| fiscal year, pursuant to Section 5(b)(6) of this Act, must be |
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| used to make loans, grants, or other investments to finance or |
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| otherwise pay the costs of creating or preserving permanent |
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| supportive housing. Moneys allocated for creating or |
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| preserving permanent supportive housing, under this |
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| subsection, may be used as set forth under subsection (c) of |
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| this Section, along with the following special uses: |
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| (1) to fund capitalized operating reserves for new or |
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| expiring permanent supportive housing projects, where such |
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| reserves supplement traditional operating subsidies, serve |
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| as the sole source of rental subsidy, or protect against |
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| the potential loss of rental subsidy contracts, and where |
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| such reserves are capitalized over a period of years, |
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| provided that no more than 20% of the amount made available |
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| under this subsection may be used for such capitalized |
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| operating reserves; or |
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| (2) to fund capitalized supportive service directly |
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| associated with permanent supportive housing projects, |
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| where such reserves supplement traditional sources of |
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| funding for supportive services or serve as the sole source |
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| of funding for supportive services but no more than 20% of |
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| the amount made available under this subsection may be used |
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| for the provision of these services. |
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HB0728 |
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LRB095 05341 BDD 31041 b |
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| (k) If, in any fiscal year, the Program Administrator does |
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| not allocate the full amount provided under subsection (j) |
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| because it has not received enough applications meeting the |
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| Program Administrator's screening criteria, then the remaining |
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| balance of these moneys must be allocated to make loans, |
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| grants, or other investments to finance or otherwise pay the |
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| costs of creating or preserving the following types of |
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| affordable housing in the following order of priority: |
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| (1) Housing units for extremely low-income households, |
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| as provided in subsection (c); |
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| (2) Housing units for very low-income households, as |
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| provided in subsection (c); and |
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| (3) Third, for any other purpose permitted under this |
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| Act.
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| (Source: P.A. 94-839, eff. 6-6-06.)
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