IL SB1370 | 2011-2012 | 97th General Assembly

Status

Completed Legislative Action
Spectrum: Partisan Bill (Democrat 3-0)
Status: Failed on January 8 2013 - 100% progression
Action: 2013-01-08 - Session Sine Die
Text: Latest bill text (Amended) [HTML]

Summary

Amends the Illinois Housing Development Act. Creates the Neighborhood Stabilization Program. Provides that the Illinois Housing Development Authority shall establish and administer the Program and use moneys in the Neighborhood Stabilization Program Fund, and any other funds appropriated for this purpose, to make grants to non-profit organizations that serve communities with high rates of residential foreclosures. Provides that the Authority shall promulgate rules, including emergency rules. Provides that subject to appropriation, the Authority shall make grants from the Neighborhood Stabilization Program Fund to approved non-profit organizations that serve communities with high rates of residential foreclosures. Defines terms. Amends the Code of Civil Procedure. Provides that for uninhabited residential real estate in foreclosure, from the time of the filing of a foreclosure complaint until the plaintiff no longer has any interest in the property, the plaintiff shall pay to the circuit clerk a fee of $1000 per month for each month that the residential real estate is not inhabited until the property is sold to a bona fide buyer who will either inhabit the premises or lease the property to a tenant for inhabitation within 90 days after the closing. Provides that fees collected shall be deposited into the Neighborhood Stabilization Fund, a special fund created in the State treasury. The clerk shall remit the fees to the State Treasurer as follows: 98% to the State Treasurer for deposit into the Neighborhood Stabilization Fund Program Fund; and 2% to the circuit clerk for administrative expenses related to this program. Provides that annually, the circuit clerk shall submit to the Authority a report of the funds collected and remitted. Amends the State Finance Act. Creates the Neighborhood Stabilization Fund. Effective immediately.

Tracking Information

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Title

FORECLOSE-VACANT RESIDENC-FEE

Sponsors


History

DateChamberAction
2013-01-08SenateSession Sine Die
2011-04-08SenateSenate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Assignments
2011-04-08SenateRule 3-9(a) / Re-referred to Assignments
2011-04-06SenateSenate Committee Amendment No. 1 Assignments Refers to Financial Institutions
2011-04-04SenateSenate Committee Amendment No. 1 Referred to Assignments
2011-04-04SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Martin A. Sandoval
2011-03-21SenateAdded as Co-Sponsor Sen. Annazette R. Collins
2011-03-18SenateRule 2-10 Committee Deadline Established As April 8, 2011
2011-03-17SenateHeld in Financial Institutions
2011-03-10SenateHeld in Financial Institutions
2011-03-04SenateAdded as Chief Co-Sponsor Sen. Jacqueline Y. Collins
2011-02-23SenateAssigned to Financial Institutions
2011-02-08SenateReferred to Assignments
2011-02-08SenateFirst Reading
2011-02-08SenateFiled with Secretary by Sen. Martin A. Sandoval

Code Citations

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