Housing (Homeownership)

Amends the Housing Authorities Act. Provides that, unless otherwise required by federal law or regulation, a housing authority shall not establish or implement any rules, policies, or procedures that impose time limits or work requirements as a condition of initial or continued eligibility for any rent subsidy or assistance provided to qualifying tenants of the housing authority or to qualifying individuals through any rent subsidy or other housing assistance program administered by the housing authority. Permits a housing authority to establish, implement, or encourage an applicant or recipient of a rent subsidy or assistance to participate in a voluntary employment or job training program if the program: (1) does not impact the applicant's or recipient's initial or continued eligibility for the rent subsidy or assistance; and (2) has one of the specified goals for program participants, including, but not limited to, (i) increasing personal income, (ii) homeownership, or (iii) expanding employment options.

Creates the Community Land Trust Home Ownership Act. Provides that the Illinois Housing Development Authority's homeownership programs, including loan products, grants, and other types of assistance, shall be made available to home buyers and owners seeking to purchase or maintain housing where a leasehold interest in real property is held by a community land trust or other 501(c)(3) organization for the purposes of promoting long-term affordability, preservation of affordable housing, or community revitalization efforts. Provides that any other type of seller, including for-profit or private sellers of homes, through leasehold agreements, such as installment contracts, contract for deeds, or any other type of purchase or ownership structure, shall not be eligible under the amendatory Act. Requires the Illinois Housing Development Authority, within 90 days after the effective date of the Act, to propose new or amended administrative rules that will make the Authority's homeownership programs consistent with the purposes of the Act. Effective immediately.

Amends the Property Tax Code. Provides that, for the purpose of eligibility for the general homestead exemption, "homestead property" also includes property that is used by a person as his or her principal dwelling place and on which the person is liable for the payment of property taxes under a lease-to-purchase or a lease-option contract.

Amends the Affordable Housing Planning and Appeal Act. In provisions requiring the Illinois Housing Development Authority to determine which local governments are exempt from the requirements of the Act, requires the Authority to collect data on owner-occupied and rental units for each local government as follows: (1) by totaling the number of owner-occupied housing units in each local government that are affordable to households with a gross household income that is less than 80% of the median household income and is between 80% and 140% of the median household income within the county or primary metropolitan statistical area; and (2) by totaling the number of rental units in each local government that are affordable to households with a gross household income that is less than 60% of the median household income and is between 80% and 140% of the median household income within the county or primary metropolitan statistical area. Provides that data collected for the 80% AMI to 140% AMI households is to be used for informational purposes and shall not factor into the determination of exempt local governments.

Appropriates $6,000,000 from the General Revenue Fund to the Department of Human Services for a grant to the Neighborhood Housing Services of Chicago for costs associated with funding equitable mortgage lending, homeownership rehabilitation and development, and homebuyer subsidies and support. Effective July 1, 2025.

Appropriates $6,000,000 from the General Revenue Fund to the Department of Human Services for a grant to the Neighborhood Housing Services of Chicago for costs associated with funding equitable mortgage lending, homeownership rehabilitation and development, and homebuyer subsidies and support. Effective July 1, 2025.