96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
SB1588


 
Introduced 2/19/2009, 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 09085 JAM 19226 b

















FISCAL NOTE ACT MAY APPLY
















 


 


A BILL FOR









 











SB1588

LRB096 09085 JAM 19226 b






1
    AN ACT concerning State government.

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


 
4
    Section 5. The Illinois Housing Development Act is amended  
5
by adding Section 7.24i as follows:
 
6
    (20 ILCS 3805/7.24i new)

7
    Sec. 7.24i. Citizenship or legal residency required. 
8
Notwithstanding any other provision of law to the contrary, the 
9
Authority shall not acquire, and contract and enter into, any 
10
commitment to acquire a residential mortgage from a lending 
11
institution and shall not make any loan to a lending 
12
institution or individual  if  the residential mortgage is for 
13
any individual who is not a citizen or legal resident of the 
14
United States.
 

15
    Section 99. Effective date. This Act takes effect upon 
16
becoming law.