96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
SB3457


 
Introduced 2/10/2010, by Sen. Bill Brady
 
SYNOPSIS AS INTRODUCED:
 		













20 ILCS 3805/7.24i new










    Amends the Illinois Housing Development Act. Provides that the Illinois Housing Development Authority shall not acquire, and contract and enter into, any commitment to acquire a residential mortgage from a lending institution and shall not make any loan to a lending institution or individual  if  the residential mortgage is for any individual who is not a citizen or legal resident of the United States. Effective immediately.
















LRB096 17837 JAM 33205 b

















FISCAL NOTE ACT MAY APPLY
















 


 


A BILL FOR









 











SB3457

LRB096 17837 JAM 33205 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. Citizenship or legal residency required. 
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Notwithstanding any other provision of law to the contrary, the 
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Authority shall not acquire, and contract and enter into, any 
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commitment to acquire a residential mortgage from a lending 
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institution and shall not make any loan to a lending 
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institution or individual  if  the residential mortgage is for 
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any individual who is not a citizen or legal resident of the 
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United States.
 

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