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96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
SB3738
Introduced 2/11/2010, by Sen. Jacqueline Y. Collins SYNOPSIS AS INTRODUCED:
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20 ILCS 3805/7.30 new |
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30 ILCS 105/5.755 new |
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30 ILCS 105/6z-82 new |
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Amends the Illinois Housing Development Act to authorize the Illinois Housing Authority to establish and administer a foreclosure prevention counseling program using moneys in the Foreclosure Prevention Counseling Fund, appropriated for that purpose, to make grants to HUD-certified housing counseling agencies to support pre-purchase and post-purchase home ownership education and foreclosure prevention counseling. Amends the State Finance Act to create the Foreclosure Prevention Counseling Fund. Provides that 75% of the moneys in this Fund shall be used for housing counseling outside Chicago and 25% of the moneys shall be used for such counseling in Chicago. Effective immediately.
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A BILL FOR
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SB3738 |
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LRB096 20338 AJO 35970 b |
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| AN ACT concerning foreclosure.
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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 7.30 as follows:
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| (20 ILCS 3805/7.30 new) |
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| Sec. 7.30. Foreclosure prevention counseling program. |
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| Subject to appropriation, the Authority shall establish and |
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| administer a foreclosure
prevention counseling program. The |
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| Authority shall use moneys
in the Foreclosure Prevention |
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| Counseling Fund, and any other
funds appropriated for this |
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| purpose, to make grants to
HUD-certified housing counseling |
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| agencies to support
pre-purchase and post-purchase |
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| home-ownership education and
foreclosure prevention counseling |
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| activities under the
program.
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| Section 10. The State Finance Act is amended by adding |
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| Sections 5.755 and 6z-82 as follows:
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| (30 ILCS 105/5.755 new) |
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| Sec. 5.755. The Foreclosure Prevention Counseling Fund.
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| (30 ILCS 105/6z-82 new) |
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SB3738 |
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LRB096 20338 AJO 35970 b |
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| Sec. 6z-82. The Foreclosure Prevention Counseling Fund. |
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| (a) There is created in the State treasury a special fund
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| to be known as the Foreclosure Prevention Counseling Fund. The |
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| Fund shall consist of moneys appropriated by the General |
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| Assembly. |
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| (b) Moneys in the Fund shall be used as follows: |
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| (1) 75% of the moneys in the Fund shall be used to make |
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| grants to
HUD-certified housing counseling agencies that |
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| provide services outside the City of Chicago and across the |
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| State, as provided in Section 7.30 of the Illinois Housing |
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| Development Act. Grants made by the Illinois Housing |
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| Development Authority shall be based upon the number of
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| foreclosures filed in a HUD-certified counseling agency's |
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| service area, the capacity of a HUD-certified housing |
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| counseling agency to provide foreclosure counseling |
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| services, and any other facts that the Illinois Housing |
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| Development Authority deems appropriate. |
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| (2) The remaining moneys shall, be distributed to the |
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| City of Chicago to provide grants to HUD-certified housing |
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| counseling agencies located within the City of Chicago to |
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| support pre-purchase and post-purchase home-ownership |
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| education and foreclosure prevention counseling activities |
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| under programs administered by the City of Chicago.
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| Section 99. Effective date. This Act takes effect upon |
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| becoming law.
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