Illinois Compiled Statutes
Chapter 310 - HOUSING
310 ILCS 126/ - COVID-19 Affordable Housing Grant Program Act.

(310 ILCS 126/1)
(Section scheduled to be repealed on April 1, 2025)
Sec. 1. Short title. This Act may be cited as the COVID-19 Affordable Housing Grant Program Act.

(Source: P.A. 102-175, eff. 7-29-21.)

(310 ILCS 126/5)
(Section scheduled to be repealed on April 1, 2025)
Sec. 5. Purpose and findings. The State of Illinois faces a large shortage of decent, affordable rental housing for low-income and moderate-income households. The COVID-19 pandemic has dramatically increased this need for affordable housing. The development of affordable housing will help Illinois to address the need for more housing, jobs, tax base, tax revenue, and population in the State. These funds will help developers to overcome increased construction costs related to pandemic-created supply shortages (in lumber and other materials) and to jump-start a housing recovery in Illinois in the wake of the pandemic. These funds will also incentivize and attract private equity and private lending and will allow the State to more fully use and draw down unused federal resources for affordable housing. Funding will be used for the acquisition, construction, development, predevelopment, or rehabilitation of affordable multifamily rental development.

(Source: P.A. 102-175, eff. 7-29-21.)

(310 ILCS 126/10)
(Section scheduled to be repealed on April 1, 2025)
Sec. 10. Definitions. As used in this Act:
"Authority" means the Illinois Housing Development Authority.
"Disproportionately impacted area" means a census tract or comparable geographic area that meets at least one of the following criteria, as determined by the Department of Commerce and Economic Opportunity:
"Federal tax credit" means the federal low-income housing tax credit provided by Section 42 of the federal Internal Revenue Code, including federal low-income housing tax credits issued pursuant to 26 U.S.C. 42(h)(3) and 26 U.S.C. 42(h)(4).
"Qualified development" means a qualified low-income housing project, as that term is defined in Section 42 of the federal Internal Revenue Code of 1986, that is located in the State and is determined to be eligible for the federal tax credit set forth in Section 42 of the Internal Revenue Code.

(Source: P.A. 102-175, eff. 7-29-21.)

(310 ILCS 126/15)
(Section scheduled to be repealed on April 1, 2025)
Sec. 15. Grant program. Subject to appropriation for this purpose, the Authority shall establish an affordable housing grant program to encourage the construction and rehabilitation of affordable multifamily rental housing in response to the COVID-19 pandemic. Funding may be used for the acquisition, construction, development, predevelopment, or rehabilitation of a qualified development. The goal of the grant program shall be to fund the development and preservation of up to 3,500 affordable rental homes and apartments by December 31, 2024. Project sponsors who wish to participate in the affordable housing grant program shall submit a grant application to the Authority in accordance with rules adopted by the Authority. The Authority shall prescribe, by rule, standards and procedures for the provision of demonstration grant funds in relation to each grant application.

(Source: P.A. 102-175, eff. 7-29-21.)

(310 ILCS 126/20)
(Section scheduled to be repealed on April 1, 2025)
Sec. 20. Affordable multifamily rental housing gap financing. Where a qualified development has been awarded a federal tax credit, the recipient may request additional gap financing under this grant program as the Authority deems appropriate. Through the program, the Authority shall provide grants with no expectation of repayment.

(Source: P.A. 102-175, eff. 7-29-21.)

(310 ILCS 126/25)
(Section scheduled to be repealed on April 1, 2025)
Sec. 25. Prioritization efforts.
(a) The Authority shall make best efforts to prioritize grant applications for proposed developments as follows:
(b) The Authority shall balance the approval of projects between those located within a disproportionately impacted area as defined under this Act and those located in areas of opportunity, as defined or recognized by the Authority.

(Source: P.A. 102-175, eff. 7-29-21.)

(310 ILCS 126/30)
(Section scheduled to be repealed on April 1, 2025)
Sec. 30. Annual reporting to the General Assembly.
(a) The Authority shall submit an annual report to the General Assembly no later than March 31 of each calendar year with the first annual report due no later than March 31, 2022.
(b) The annual report must describe the grant program's administration and the number and type of projects funded as of the date of the report with the following information:
(Source: P.A. 102-175, eff. 7-29-21.)

(310 ILCS 126/35)
(Section scheduled to be repealed on April 1, 2025)
Sec. 35. Repeal. This Act is repealed on April 1, 2025.

(Source: P.A. 102-175, eff. 7-29-21.)

(310 ILCS 126/900)
Sec. 900. (Amendatory provisions; text omitted).

(Source: P.A. 102-175, eff. 7-29-21; text omitted.)

(310 ILCS 126/905)
Sec. 905. (Amendatory provisions; text omitted).

(Source: P.A. 102-175, eff. 7-29-21; text omitted.)

(310 ILCS 126/915)
Sec. 915. (Amendatory provisions; text omitted).

(Source: P.A. 102-175, eff. 7-29-21; text omitted.)

(310 ILCS 126/920)
Sec. 920. (Amendatory provisions; text omitted).

(Source: P.A. 102-175, eff. 7-29-21; text omitted.)

(310 ILCS 126/925)
Sec. 925. (Amendatory provisions; text omitted).

(Source: P.A. 102-175, eff. 7-29-21; text omitted.)

(310 ILCS 126/999)
(Section scheduled to be repealed on April 1, 2025)
Sec. 999. Effective date. This Act takes effect upon becoming law.

(Source: P.A. 102-175, eff. 7-29-21.)