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IHDA-FORECLOSURE COUNSELING Amends the Illinois Housing Development Act. Provides that the Illinois Housing Development Authority shall establish and administer a foreclosure prevention counseling program and shall use moneys in the Foreclosure Prevention Counseling Fund and funds appropriated for that purpose to make grants to HUD-certified counseling agencies for home-ownership education and foreclosure prevention counseling. Amends the State Finance Act. Creates the Foreclosure Prevention Counseling Fund and provides for allocation of moneys in the Fund. Provides for the payment of license fees of $3,700 annually, including the foreclosure prevention surcharge (instead of $2,700 annually). Amends the Residential Mortgage License Act of 1987. Provides that an application for a license or a license renewal on or after July 1, 2008, shall include payment of a foreclosure prevention surcharge of $1,000. Provides that the surcharge proceeds shall be deposited into the Foreclosure [...]

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Latest Actions
  • 07/01/2008 - Pursuant to Senate Rule 3-9(b) / Referred to Rules
  • 05/30/2008 - Added Alternate Chief Co-Sponsor Rep. Marlow H. Colvin
  • 05/30/2008 - Added Alternate Chief Co-Sponsor Rep. Karen A. Yarbrough
  • 05/30/2008 - Added Alternate Chief Co-Sponsor Rep. Deborah L. Graham
  • 05/30/2008 - Third Reading - Short Debate - Passed 114-000-000

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Bill Text
File name Last Updated
SB2566 Bill Text Engrossed PDF04/03/2008
SB2566 Bill Text Senate Amendment 001 PDF03/13/2008
SB2566 Bill Text Introduced PDF02/15/2008