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91_HB2101
LRB9104539SMdv
1 AN ACT to amend the Illinois Housing Development Act by
2 adding Section 7.5a.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Illinois Housing Development Act is
6 amended by adding Section 7.5a as follows:
7 (20 ILCS 3805/7.5a new)
8 Sec. 7.5a. Develop low and moderate income housing. The
9 Authority may encourage communities to use and develop a
10 percentage of their housing stock for low and moderate income
11 housing in an attempt to stabilize inner suburban
12 communities, and make grants or loans, with or without
13 interest, in connection therewith.
14 Section 99. Effective date. This Act takes effect upon
15 becoming law.