310 ILCS 90/ HOME Investment Trust Fund Act. - Illinois Statutes

(310 ILCS 90/1)     Sec. 1. Short title. This Act may be cited as the HOME Investment Trust Fund Act. (Source: P.A. 89‑286, eff. 8‑10‑95.)

(310 ILCS 90/5)     Sec. 5. Definitions. In this Act:     "Authority" means the Illinois Housing Development Authority.     "Department" means the Illinois Department of Revenue.     "Governor" means the Governor of the State of Illinois.     "HOME Program" means the federal HOME Investment Partnerships Program under the National Affordable Housing Act (42 U.S.C. 12701 et seq.) and the regulations promulgated under that Act.     "Participating jurisdiction" has the same meaning as in the regulations implementing the HOME Program.     "Trust Fund" means the Federal HOME Investment Trust Fund created under Section 6z‑25 of the State Finance Act. (Source: P.A. 89‑286, eff. 8‑10‑95.)

(310 ILCS 90/10)     Sec. 10. Designation of Authority. The Governor may designate the Authority to act on behalf of the State of Illinois with regard to the HOME Program. (Source: P.A. 89‑286, eff. 8‑10‑95.)

(310 ILCS 90/15)     Sec. 15. Disbursement of Trust Fund moneys. To the extent that any moneys relating to projects under the HOME Program, including project disbursements, repayments of loans, and any interest earned on those moneys, are deposited into the Trust Fund in the State treasury, those moneys shall be appropriated to the Department for disbursement to the Authority in accordance with procedures established jointly by the Department and the Authority pursuant to a written agreement executed by the directors of the Department and the Authority. (Source: P.A. 89‑286, eff. 8‑10‑95.)

(310 ILCS 90/90)     Sec. 90. (Amendatory provisions; text omitted). (Source: P.A. 89‑286, eff. 8‑10‑95; text omitted.)

(310 ILCS 90/99)     Sec. 99. Effective date. This Act takes effect upon becoming law. (Source: P.A. 89‑286, eff. 8‑10‑95.)