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IL HB4505
Bill
Status
1/8/2013
Primary Sponsor
JoAnn Osmond
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AI Summary
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Authorizes Lake County to establish an affordable housing trust fund to provide financial support for affordable housing activities serving low-income and moderate-income households.
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Allows Lake County to impose a $5 surcharge on the recordation of real estate-related documents, with revenues dedicated solely to funding the affordable housing trust fund.
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Defines "affordable housing trust fund" as a trust fund established by Lake County board resolution or ordinance for housing support purposes.
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Defines "real estate-related document" by reference to Section 7 of the Rental Housing Support Program Act.
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Takes effect immediately upon becoming law.
Legislative Description
COUNTIES CD-AFFORDABLE HOUSING
Last Action
Session Sine Die
1/8/2013