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| | 103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
SB1378 Introduced 2/6/2023, by Sen. Jil Tracy SYNOPSIS AS INTRODUCED:
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Amends the Illinois Housing Development Act. Provides that, as part of the development of the Qualified Allocation Plan for 2024-2025, the Illinois Housing Development Authority must set aside no less than 10% of its allocated tax credits for projects sponsored by nonprofits that will provide permanent housing for formerly homeless veterans in a service-based multifamily property and projects of no fewer than 20 units. Effective immediately.
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| | A BILL FOR |
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| | SB1378 | | LRB103 25511 KTG 51860 b |
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| 1 | | AN ACT concerning housing.
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| 2 | | Be it enacted by the People of the State of Illinois,
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| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Illinois Housing Development Act is amended |
| 5 | | by adding Section 7.24i as follows:
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| 6 | | (20 ILCS 3805/7.24i new) |
| 7 | | Sec. 7.24i. Allocated tax credits for permanent housing |
| 8 | | for homeless veterans. Notwithstanding any other law to the |
| 9 | | contrary, as part of the development of the Qualified |
| 10 | | Allocation Plan for 2024-2025, as required under 42(m) of the |
| 11 | | federal Internal Revenue Code of 1986, the Authority must set |
| 12 | | aside no less than 10% of its allocated tax credits for |
| 13 | | projects sponsored by nonprofits that will provide permanent |
| 14 | | housing for formerly homeless veterans in a service-based |
| 15 | | multifamily property and projects of no fewer than 20 units.
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| 16 | | Section 99. Effective date. This Act takes effect upon |
| 17 | | becoming law.
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