(20 ILCS 3805/14.1) (from Ch. 67 1/2, par. 314.1)
Sec. 14.1.
The Authority may issue to persons acquiring, improving or
rehabilitating residences in Illinois mortgage credit certificates (or such
other arrangements by which entities authorized to issue qualified mortgage
bonds under Section 143 of the Internal Revenue Code may grant persons
Federal income tax credits or other advantages with respect to costs of
residential mortgages). The Authority shall have the authority to take all
steps, make all conditions and do all things necessary in order so to issue
such certificates or make such other arrangements including, without
limitation, establishing for the State a qualified mortgage credit
certificate program, enforcing and carrying out that program, and giving
notice of the provisions of the program.
(Source: P.A. 87-250.)
|