IL HB3291

Amends the Illinois Affordable Housing Act by adding a new subsection (c) to Section 17 regarding annual budget allocation for housing programs.

Requires 1% of the annual proposed budget from the Affordable Housing Program plan to be allocated specifically to support limited-equity cooperative housing.

Designated funding shall support cooperative homebuyer assistance, building acquisition and renovation, assistance with monthly housing charges, predevelopment funding, and technical assistance for cooperative housing programs.