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IL HB3740
Bill
Status
1/11/2011
Primary Sponsor
Arthur Turner
Click for details
AI Summary
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Amends Public Act 95-731 to expand use of the $3,000,000 appropriation from the Predatory Lending Database Program Fund to the Department of Revenue.
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Allows funds to be distributed as grants to HUD-certified counseling agencies in any county for mortgage default counseling activities listed in the U.S. Department of Housing and Urban Development Housing Counseling Program Handbook 7610.1, Rev-4.
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Permits grants to HUD-certified counseling agencies for counseling to borrowers as specified in Section 73 of the Residential Real Property Disclosure Act.
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The Illinois Housing Development Authority continues to administer the Predatory Lending Database Program.
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Takes effect upon becoming law.
Legislative Description
$IHDA-FORECLOSURE COUNSELING
Last Action
Session Sine Die
1/11/2011