95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
HB1101


 
Introduced , by Rep. Mary E. Flowers
 
SYNOPSIS AS INTRODUCED:
 		













20 ILCS 3805/7
  from Ch. 67 1/2, par. 307




20 ILCS 3805/7.30 new










    Amends the Illinois Housing Development Act.
Authorizes the
Illinois Housing Development Authority to develop and implement a program of
financial assistance to recently hired Illinois nurses and home-care workers purchasing their first
primary
residence.  Limits the program to nurses and home-care workers employed in Cook County.
Limits eligibility to nurses and home-care workers with no more than 2 years of
employment who commit to continue working, for at least 3 years
after their
closing date, in Cook County.
Effective immediately.
















LRB095 08550 BDD 30023 b

















FISCAL NOTE ACT MAY APPLY


HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY
















 


 


A BILL FOR









 











HB1101

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    AN ACT in relation to housing. 

 
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    Be it enacted by the People of the State of Illinois, 
3
represented in the General Assembly: 


 
4
    Section 5. The Illinois Housing Development Act is amended 
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by changing
Section 7
and adding Section 7.30 as follows:


 
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    (20 ILCS 3805/7)  (from Ch. 67 1/2, par. 307)

7
    Sec. 7. The Authority may exercise the powers set forth in 
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Sections 7.1
through 7.30
7.26.


9
(Source: P.A. 87-250.)

 
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    (20 ILCS 3805/7.30 new)

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    Sec. 7.30. Financial assistance for new nurses and 
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home-care workers.  The Authority, in cooperation with the 
13
Treasurer's office, shall
develop and
implement a program of 
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financial assistance for new nurses and home-care workers 
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purchasing a first
home.
The program shall consist of financial 
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assistance to recently hired
nurses or home-care workers to 
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obtain 30-year mortgages, at interest rates no greater than 
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those
for mortgages under the Authority's other programs for 
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first-time home buyers,
for the
purchase
of primary residences 
20
for the first time.  Assistance is available only
to those

21
nurses and home-care workers Cook County.  The program is 
22
limited to persons
employed in any nursing or home-care 
 


 






HB1101
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1
position cumulatively for no more than
2 years
at the time of 
2
application and who commit to continue working, for at least 3 
3
years after their closing date, as a nurse or home-care worker 
4
Cook County.  An eligible
residence
must be located
in Illinois 
5
and must be the applicant's first purchase of a primary 
6
residence
in any
location.

7
    The Authority, in cooperation with the State Treasurer, 
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shall adopt rules necessary for any program authorized by this

9
Section.



 
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    Section 99. Effective date. This Act takes effect upon 
11
becoming law.