Illinois HB 4852: REGULATION-TECH

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 Full Text of HB4852

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104TH GENERAL ASSEMBLY 
State of Illinois 
2025 and 2026
HB4852

Introduced , by Rep. Jed Davis 

SYNOPSIS AS INTRODUCED:

New Act

 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.

LRB104 18447 KTG 31889 b

A BILL FOR

HB4852LRB104 18447 KTG 31889 b

1 AN ACT concerning housing.

2 Be it enacted by the People of the State of Illinois, 

3represented in the General Assembly:

4 Section 1. Short title. This Act may be cited as the 

5Owner-Occupied Housing Incentive Act.

6 Section 5. Legislative findings and purpose. The General