IL SB2413 | 2023-2024 | 103rd General Assembly
Status
Spectrum: Partisan Bill (Democrat 3-0)
Status: Introduced on February 10 2023 - 25% progression
Action: 2023-10-19 - Added as Co-Sponsor Sen. Natalie Toro
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on February 10 2023 - 25% progression
Action: 2023-10-19 - Added as Co-Sponsor Sen. Natalie Toro
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Creates the Home Buyer Savings Account Act. Sets forth provisions concerning legislative findings; establishment of first-time and second-chance home buyer savings accounts; use of first-time and second-chance home buyer savings accounts; account holder responsibilities; responsibilities of financial institutions; deduction of contributions, exclusion of earnings, and limitations; penalty for withdrawal; Department of Revenue forms; and an annual report. Defines terms. Amends the Illinois Municipal Code. Sets forth provisions concerning accessory dwelling units and housing. Amends the Reimagining Electric Vehicles in Illinois Act. Provides that the Department of Commerce and Economic Opportunity shall establish a pilot grant program to encourage the construction and rehabilitation of housing located near a REV Illinois Project. Amends the Illinois Highway Code. Sets forth provisions concerning units of local government which have in effect an impact fee ordinance or resolution. Makes other changes.
Title
HOME BUYER SAVINGS ACCOUNT ACT
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2023-10-19 | Senate | Added as Co-Sponsor Sen. Natalie Toro |
| 2023-02-21 | Senate | Added as Chief Co-Sponsor Sen. Cristina Castro |
| 2023-02-10 | Senate | Referred to Assignments |
| 2023-02-10 | Senate | First Reading |
| 2023-02-10 | Senate | Filed with Secretary by Sen. Mattie Hunter |
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 20 | 686 | 110 | New Code | See Bill Text |
| 605 | 5 | 5-907 | Amended Code | Citation Text |
| 605 | 5 | 5-918 | Amended Code | Citation Text |
| 605 | 5 | 5-918.1 | New Code | See Bill Text |
| 65 | 5 | 11-13-28 | New Code | See Bill Text |
| 65 | 5 | 11-13-29 | New Code | See Bill Text |
Illinois State Sources
| Type | Source |
|---|---|
| Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2413&GAID=17&DocTypeID=SB&SessionID=112&GA=103 |
| Text | https://www.ilga.gov/legislation/103/SB/10300SB2413.htm |
