IL SB3586

Amends the Illinois Highway Code to replace the fixed $22,500 payment cap with the maximum funding permitted under the federal Uniform Relocation Assistance Program (42 U.S.C. Chapter 61, Subchapter II) for displaced persons.

Applies to persons displaced from dwellings acquired for State highway or federal aid highway projects who owned and occupied the property for at least 180 days prior to acquisition negotiations.

Payment components include: the difference between acquisition cost and comparable replacement dwelling cost, increased interest costs for financing replacement housing, and closing costs for purchasing a replacement dwelling.

Displaced persons must purchase and occupy a replacement dwelling meeting Department standards within one year of receiving final payment for the acquired dwelling.

Persons occupying acquired dwellings for 90-179 days may receive up to $5,250 for rental assistance or down payment assistance on replacement housing.