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HB4747 Engrossed |
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LRB095 15701 DRJ 41708 b |
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| AN ACT concerning State government.
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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 Illinois Housing Development Act is amended |
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| by adding Section 7.24i as follows: |
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| (20 ILCS 3805/7.24i new) |
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| Sec. 7.24i. Loans to parents of children with disabilities |
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| or with mental illness. |
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| (a) Subject to appropriations for that purpose, the |
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| Authority may make, purchase, or participate
in mortgage loans |
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| to parents of children with disabilities or with mental illness |
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| to
finance the purchase of
residential real property. |
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| (b) A loan under this Section shall be secured as |
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| determined by the Authority. |
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| (c) A loan under this Section may be in a principal amount, |
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| bear
interest at a rate, have other terms and conditions, and |
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| be
repaid within a period as the Authority determines. |
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| (d) Notwithstanding any other rulemaking authority that |
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| may exist, neither the Governor nor any agency or agency head |
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| under the jurisdiction of the Governor has any authority to |
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| make or promulgate rules to implement or enforce the provisions |
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| of this amendatory Act of the 95th General Assembly. If, |
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| however, the Governor believes that rules are necessary to |