Bill Text: IL SB3457 | 2009-2010 | 96th General Assembly | Introduced
Bill Title: 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.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Introduced - Dead) 2010-03-08 - Rule 3-9(a) / Re-referred to Assignments [SB3457 Detail]
Download: Illinois-2009-SB3457-Introduced.html
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1 | AN ACT concerning State government.
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2 | Be it enacted by the People of the State of Illinois,
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3 | represented in the General Assembly:
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4 | Section 5. The Illinois Housing Development Act is amended | ||||||||||||||||||||||||
5 | by adding Section 7.24i as follows:
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6 | (20 ILCS 3805/7.24i new)
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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.
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15 | Section 99. Effective date. This Act takes effect upon | ||||||||||||||||||||||||
16 | becoming law.
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