HOME Investment Trust Fund Act (310 ILCS 90/)

Chapter 310 — Housing

This text is maintained by the Legislative Reference Bureau for legislative drafting purposes and is NOT the official text of the Illinois Compiled Statutes; the only official copy is the printed copy maintained by the Secretary of State.

Sec. 1. Short title

This Act may be cited as the HOME Investment Trust Fund Act.

(Source: P.A. 89-286, eff. 8-10-95.)

Sec. 5. Definitions

In this Act:

"Authority" means the Illinois Housing Development Authority.

"Department" means the Illinois Department of Revenue.

"Governor" means the Governor of the State of Illinois.

"HOME Program" means the federal HOME Investment Partnerships Program under the National Affordable Housing Act (42 U.S.C. 12701 et seq.) and the regulations promulgated under that Act.

"Participating jurisdiction" has the same meaning as in the regulations implementing the HOME Program.

"Trust Fund" means the Federal HOME Investment Trust Fund created under Section 6z-25 of the State Finance Act.

(Source: P.A. 89-286, eff. 8-10-95.)

Sec. 10. Designation of Authority

The Governor may designate the Authority to act on behalf of the State of Illinois with regard to the HOME Program.

(Source: P.A. 89-286, eff. 8-10-95.)

Sec. 15. Disbursement of Trust Fund moneys

To the extent that any moneys relating to projects under the HOME Program, including project disbursements, repayments of loans, and any interest earned on those moneys, are deposited into the Trust Fund in the State treasury, those moneys shall be appropriated to the Department for disbursement to the Authority in accordance with procedures established jointly by the Department and the Authority pursuant to a written agreement executed by the directors of the Department and the Authority.

(Source: P.A. 89-286, eff. 8-10-95.)

Sec. 90.

(Amendatory provisions; text omitted).

(Source: P.A. 89-286, eff. 8-10-95; text omitted.)

Sec. 99. Effective date

This Act takes effect upon becoming law.

(Source: P.A. 89-286, eff. 8-10-95.)