BURKE-DELGADO-SCHOENBERG-GASH-MORROW, SHARP, HAMOS, GARRETT, GILES, ACEVEDO, LOPEZ, LYONS,JOSEPH, JONES,LOU AND YOUNGE. (O'MALLEY) New Act 30 ILCS 105/5.541 new Creates the Home Loan Collateral Fund Act. Creates the Home Loan Collateral Fund, which is to be administered by the State Treasurer to provide collateral for Illinois citizens seeking home loans for a home in the State or seeking to avoid foreclosure on an existing home loan for a home in the State. Provides procedures for and restrictions on the administration of the Fund. Amends the State Finance Act to create the special fund in the State treasury. STATE DEBT NOTE (Economic and Fiscal Commission) HB 3868 would not change the amount of authorization for any type of State-issued or State-supported bond, and, therefore, would not affect the level of State indebtedness. HOME RULE NOTE (Dept. of Commerce and Community Affairs) HB 3868 does not relate to the activities of home rule units of government. Therefore, HB 3868 does not pre-empt home rule authority. FISCAL NOTE (Office of Banks and Real Estate) HB 3868 would create no fiscal impact to the Office of Banks and Real Estate. FISCAL NOTE (Dept. of Corrections) There would be no corrections population or fiscal impact. CORRECTIONAL NOTE (Dept. of Corrections) Same as DOC fiscal note. HOUSING AFFORDABILITY NOTE (Housing Development Authority) This legislation will have no impact on the cost of construct- ing, purchasing, owning, or selling a single-family residence. HOUSE AMENDMENT NO. 1. Deletes everything. Creates the Home Loan Collateral Fund Act. Provides that the Home Loan Collateral Fund shall be administered by the State Treasurer to provide collateral for Illinois citizens who have applied for a home loan from a financial institution or who have an existing home loan that requires additional security to avoid foreclosure or other adverse action. Provides that participation in the Fund does not otherwise limit a financial institution's actions with respect to a loan. Requires the State Treasurer to establish rules and procedures for the administration of the Fund and the Home Loan Collateral Fund Act. Amends the State Finance Act to create the Home Loan Collateral Fund. Effective immediately. HOUSING AFFORDABILITY NOTE, H-AM 1 (Housing Development Auth.) Same as previous housing affordability note. FISCAL NOTE, H-AM 1 (Office of Banks and Real Estate) Same as previous note for the Office of Banks and Real Estate. 00-01-25 H FILED WITH CLERK 00-01-25 H FIRST READING 00-01-25 H REFERRED TO HOUSE RULES COMMITTEE RULES 00-01-27 H ADDED AS A JOINT SPONSOR DELGADO 00-01-27 H ADDED AS A CO-SPONSOR SHARP 00-01-28 H ADDED AS A JOINT SPONSOR SCHOENBERG 00-02-09 H ASSIGNED TO COMMITTEE EXECUTIVE 00-02-10 H ADDED AS A JOINT SPONSOR GASH 00-02-10 H ADDED AS A JOINT SPONSOR MORROW 00-02-16 H DO PASS/STANDARD DEBATE 008-007-000 HEXC 00-02-16 H PLACED CAL 2ND READING-STANDARD DEBATE 00-02-23 H FISCAL NOTE REQUESTED BLACK 00-02-23 H HOUSING AFORDABLTY IMPCT NOTE REQUESTED BLACK 00-02-23 H CALENDAR ORDER 2ND READING-STANDARD DBT 00-02-24 H STATE DEBT IMPACT NOTE FILED 00-02-24 H CALENDAR ORDER 2ND READING-STANDARD DBT 00-02-28 H HOME RULE NOTE FILED 00-02-28 H CALENDAR ORDER 2ND READING-STANDARD DBT 00-02-29 H FISCAL NOTE FILED 00-02-29 H CORRECTIONAL NOTE FILED 00-02-29 H FISCAL NOTE FILED 00-02-29 H HOUSING AFORDABILITY IMPCT NOTE FILED 00-02-29 H AMENDMENT NO. 01-BURKE 00-02-29 H AMENDMENT REFERRED TO HRUL 00-02-29 H SECOND READING-STANDARD DEBATE 00-02-29 H HELD CAL ORDER 2ND READING-STANDARD DBT 00-03-01 H AMENDMENT NO. 01-BURKE 00-03-01 H RECOMMENDS BE ADOPTED HRUL/005-000-000 00-03-01 H HELD CAL ORDER 2ND READING-STANDARD DBT 00-03-02 H ADDED AS A CO-SPONSOR HAMOS 00-03-02 H AMENDMENT NO. 01-BURKE 00-03-02 H ADOPTED 00-03-02 H HOUS AFFORD IMPCT NOTE FLD AS AMENDED BY HOUSE AMEND #1 00-03-02 H PLCD CAL ORDER 3RD READING-STNDRD DEBATE 00-03-03 H FISCAL NOTE FILED AS AMENDED BY HOUSE AMEND #1 00-03-03 H ADDED AS A CO-SPONSOR HARRIS 00-03-03 H ADDED AS A CO-SPONSOR GARRETT 00-03-03 H ADDED AS A CO-SPONSOR GILES 00-03-03 H ADDED AS A CO-SPONSOR ACEVEDO 00-03-03 H ADDED AS A CO-SPONSOR LOPEZ 00-03-03 H ADDED AS A CO-SPONSOR LYONS,JOSEPH 00-03-03 H ADDED AS A CO-SPONSOR MURPHY 00-03-03 H ADDED AS A CO-SPONSOR JONES,LOU 00-03-03 H ADDED AS A CO-SPONSOR YOUNGE 00-03-03 H THIRD READING/STANDARD DEBATE/PASS 069-046-002 00-03-06 S ARRIVE IN SENATE 00-03-06 S PLACED CALENDAR ORDER OF FIRST READING 00-03-07 00-03-06 S CHIEF SPONSOR O'MALLEY 00-03-06 S FIRST READING 00-03-06 S REFERRED TO SENATE RULES COMMITTEE RULES 01-01-09 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary