093_HB3615

 
                                     LRB093 08394 LCB 08614 b

 1        AN ACT concerning housing.

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

 4        Section  5.   The  Illinois  Affordable  Housing  Act  is
 5    amended by changing Section 2 as follows:

 6        (310 ILCS 65/2) (from Ch. 67 1/2, par. 1252)
 7        Sec.  2.   Legislative  findings and declarations.  It is
 8    hereby  found  and  declared  that  an  acute   shortage   of
 9    affordable  housing exists in this the State of Illinois; and
10    that this crisis has been exacerbated by a sharp reduction in
11    federal funding for  affordable  housing,  by  the  potential
12    prepayment   of  subsidized  federal  mortgages,  and  by  an
13    inability on the part of local government to meet this  need.
14    New  State  resources must therefore be directed to alleviate
15    the shortage of affordable housing.  It is  further  intended
16    that  limited  new  State  resources be allocated in a manner
17    that maximizes collaboration among federal, State  and  local
18    agencies as well as the private sector.
19    (Source: P.A. 86-925.)