IHDA-HOUSING INCENTIVE PROGRAM
Sponsored By: Jed Davis (Republican)
In Committee
Summary
Creates the Owner-Occupied Housing Incentive Act. Requires the Illinois Housing Development Authority to administer an owner-occupant housing incentive program that provides financial incentives to qualifying purchasers for the purchase of moderately priced owner-occupied homes. Requires the Authority to develop necessary forms, establish verification procedures, and adopt rules to implement the program that are consistent with the provisions of the Act. Requires the Authority to provide a $7,500 owner-occupant housing incentive to any qualifying purchaser of an eligible property. Provides that the owner-occupant housing incentive may be provided as a grant, closing cost credit, down payment assistance, or any other similar mechanism approved by the Authority, subject to available appropriations. Contains provisions concerning eligibility requirements; hardship exemptions; program restrictions; verification and compliance; and penalties and repayment. Provides that the Act shall be construed narrowly to promote owner-occupied home purchases and that nothing in the Act shall be interpreted to regulate or restrict lawful rental housing, landlord activity, or property ownership outside the scope of the incentive created under the Act. Effective immediately.
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Bill Overview
No Economic Impacts Identified for this Bill
Sponsors & Cosponsors
Sponsor
Jed Davis
Republican • House
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
Actions Timeline
Referred to Rules Committee
2/6/2026HouseFirst Reading
2/6/2026HouseFiled with the Clerk by Rep. Jed Davis
2/3/2026House
Bill Text
Introduced
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