# Illinois SB0148: HOME BUYER SAVINGS ACCOUNT ACT

Illinois SB0148, HOME BUYER SAVINGS ACCOUNT ACT, is a 104th General Assembly (2025–2026) Senate bill sponsored by Cristina Castro (Democratic); status in committee, last action 2026-05-30 (Added as Chief Co-Sponsor Sen. David Koehler) (as of 2026-11-01).

- Canonical: https://policyrisk.com/state-bill/IL-SB0148-2025-2026
- As of: 2026-11-01
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: Illinois SB0148
- State: Illinois
- Session: 104th General Assembly (2025–2026)
- Title: HOME BUYER SAVINGS ACCOUNT ACT
- Status: in committee
- Chamber: Senate
- Introduced: 2025-01-17
- Last action: 2026-05-30, Added as Chief Co-Sponsor Sen. David Koehler
- Sponsor: Cristina Castro (Democratic)
- Cosponsors: 6
- Subjects: assignments, revenue
- Touches household money: no
- Economic provisions PRIA read: 0

## Summary

Creates the Illinois Home Buyer Savings Accounts Act. Provides that a first-time and second-chance home buyer may open an account with a financial institution designated in its entirety by the financial institution as a first-time and second-chance home buyer savings account. Provides that the funds in a first-time and second-chance home buyer savings account may be used only to pay a first-time and second-chance home buyer's eligible costs for the purchase of a single-family residence in Illinois. Provides that 2 first-time and second-chance home buyers may jointly own a first-time and second-chance home buyer savings account. Provides that only cash and marketable securities may be contributed to a first-time and second-chance home buyer savings account. Sets forth provisions concerning the responsibilities of an account holder; the responsibilities of financial institutions; deduction of contributions, exclusion of earnings, and limitations; the penalty for withdrawal for purpose other than eligible costs; and the forms the Department of Revenue must adopt.

## Bill overview

No economic impacts identified for this bill.

## Sponsors and cosponsors

- Sponsor: Cristina Castro (Democratic), Senate
- Cosponsor: Andrew S. Chesney (Republican), Senate
- Cosponsor: Chris Balkema (Republican), Senate
- Cosponsor: David Koehler (Democratic), Senate
- Cosponsor: Laura M. Murphy (Democratic), Senate
- Cosponsor: Mike Porfirio (Democratic), Senate
- Cosponsor: Paul Faraci (Democratic), Senate

## Actions (20)

- 2026-05-30: Added as Chief Co-Sponsor Sen. David Koehler (Senate)
- 2026-05-22: Rule 3-9(a) / Re-referred to Assignments (Senate)
- 2026-05-15: Rule 2-10 Committee/3rd Reading Deadline Established As May 22, 2026 (Senate)
- 2026-04-24: Rule 2-10 Committee/3rd Reading Deadline Established As May 15, 2026 (Senate)
- 2026-03-13: Rule 2-10 Committee Deadline Established As April 24, 2026 (Senate)
- 2026-01-27: Re-assigned to Revenue (Senate)
- 2025-06-02: Rule 3-9(a) / Re-referred to Assignments (Senate)
- 2025-05-23: Rule 2-10 Committee/3rd Reading Deadline Established As June 1, 2025 (Senate)
- 2025-05-09: Rule 2-10 Committee/3rd Reading Deadline Established As May 23, 2025 (Senate)
- 2025-04-30: Added as Co-Sponsor Sen. Mike Porfirio (Senate)
- 2025-04-30: Added as Co-Sponsor Sen. Paul Faraci (Senate)
- 2025-04-30: Added as Co-Sponsor Sen. Chris Balkema (Senate)
- 2025-04-11: Rule 2-10 Committee Deadline Established As May 9, 2025 (Senate)
- 2025-03-21: Rule 2-10 Committee Deadline Established As April 11, 2025 (Senate)
- 2025-03-20: Added as Co-Sponsor Sen. Laura M. Murphy (Senate)
- 2025-02-13: Added as Co-Sponsor Sen. Andrew S. Chesney (Senate)
- 2025-01-28: Assigned to Revenue (Senate)
- 2025-01-17: Referred to Assignments (Senate)
- 2025-01-17: First Reading (Senate)
- 2025-01-17: Filed with Secretary by Sen. Cristina Castro (Senate)

## Bill text

- Introduced: [PDF](https://www.ilga.gov/documents/legislation/104/SB/PDF/10400SB0148.pdf)

## Related bills

- HB5198: AFFORDABLE HOUSING-CILAS (passed house)
- SB1937: PENSION CODE-VARIOUS (passed senate)
- HB2563: CONDO-RESERVE STUDY (in committee)
- HB4701: LIMITATIONS FACILITY FEES ACT (in committee)
- SB3008: DHS-ABLE PROGRAM INFO MATERIAL (passed senate)
- SB3484: VEH CD-PLATES-REGISTRATION (signed)

## Sources
- [Introduced (PDF)](https://www.ilga.gov/documents/legislation/104/SB/PDF/10400SB0148.pdf)

## Related
- [HB5198: AFFORDABLE HOUSING-CILAS](https://policyrisk.com/state-bill/IL-HB5198-2025-2026)
- [SB1937: PENSION CODE-VARIOUS](https://policyrisk.com/state-bill/IL-SB1937-2025-2026)
- [HB2563: CONDO-RESERVE STUDY](https://policyrisk.com/state-bill/IL-HB2563-2025-2026)
- [HB4701: LIMITATIONS FACILITY FEES ACT](https://policyrisk.com/state-bill/IL-HB4701-2025-2026)
- [SB3008: DHS-ABLE PROGRAM INFO MATERIAL](https://policyrisk.com/state-bill/IL-SB3008-2025-2026)
- [SB3484: VEH CD-PLATES-REGISTRATION](https://policyrisk.com/state-bill/IL-SB3484-2025-2026)
- [Illinois bills](https://policyrisk.com/states/illinois/bills)
- [Illinois state hub](https://policyrisk.com/states/illinois)
- [All state legislation](https://policyrisk.com/state-bills)

Source: PRIA, https://policyrisk.com/state-bill/IL-SB0148-2025-2026 (as of 2026-11-01).