SB1593 Summary

• Department of Human Services establishes Youth Training and Education in the Building Trades Program to award grants to community-based organizations for youth training in building trades with formal education and hands-on experience rehabilitating vacant residential property in economically depressed areas.

• Selected organizations must establish entrepreneurship programs providing capital and business management skills to eligible youth to launch businesses as contractors, subcontractors, real estate agents, property managers, or other building trade entrepreneurs.

• Community-based organizations can rehabilitate foreclosed residential property through agreements with financial institutions, with proceeds from sale requiring reimbursement to the organization and 80% of remaining proceeds deposited into the Youth Training and Education in the Building Trades Fund.

• Units of local government may enact ordinances allowing acquisition of residential property abandoned for at least 3 years, with property owners notified and given option to rehabilitate within 6 months or participate in the program; property owners receive 20% of remaining sale proceeds with 80% going to the program fund.

• Illinois Housing Development Authority establishes substantially similar Training Youth in the Building Trades Program; both programs select community-based organizations from Central Illinois, Northeastern Illinois, and Southern (Metro-East) Illinois regions; act becomes effective January 1, 2020.