Bill Amendment: IL HB0367 | 2017-2018 | 100th General Assembly

NOTE: For additional amemendments please see the Bill Drafting List

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Bill Title: APPRAISALS-VALUE AFTER REHAB

Status: 2019-01-08 - Session Sine Die [HB0367 Detail]

Download: Illinois-2017-HB0367-House_Amendment_001.html

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Rep. La Shawn K. Ford

Filed: 2/3/2017

10000HB0367ham001 LRB100 04305 HEP 20580 a
AMENDMENT TO HOUSE BILL 367
AMENDMENT NO. ______. Amend House Bill 367 by replacing
everything after the enacting clause with the following:
"Section 1. Short title. This Act may be cited as the Value
After Rehabilitation Appraisal Act.
Section 5. Value after rehabilitation appraisals
permitted. Unless prohibited by federal law or regulation, for
any owner occupied consumer rehabilitation mortgage funded in
this State, the appraisal may take the appraised value after
rehabilitation into account as a usable comparable from the
date the mortgage is funded.".