Bill Status of HB4283

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HB4283 - 104th General Assembly

1ST-GENERATION HOMEBUYER LOANS
Last Action
2/11/2026 - House: Assigned to Housing Committee
Hearings
Housing Committee Hearing Feb 18 2026 10:00AM Stratton Building Room C-1 Springfield, IL
Statutes Amended In Order of Appearance
20 ILCS 3805/7.34 new
30 ILCS 105/5.1038 new
Synopsis As Introduced
Amends the Illinois Housing Development Act. Requires the Illinois Housing Development Authority (Authority) to establish and administer a First-Generation Homebuyer Down Payment Assistance Program to provide targeted assistance to eligible first-generation homebuyers throughout the State for the purchase of a single-family or non-commercial multi-family residence. Sets forth eligibility requirements. Permits the Authority to prioritize assistance to applicants purchasing homes in designated community priority areas, applicants with household income below 80%, and applicants purchasing homes in areas with low homeownership rates, high housing costs burdens, or limited access to affordable mortgage credit. Provides that assistance under the program shall be provided as a forgivable loan to be forgiven pro rata on a monthly basis over a 5-year period of continuous owner-occupancy. Sets forth the available loan amounts and provides that assistance funds may be used for down payments, closing costs, mortgage insurance, interest rate buydowns, or principal reduction. Permits the Authority to waive repayment in cases of documented financial hardship that is beyond the control of the homebuyer. Permits the Authority to adopt rules to implement and administer the program. Effective July 1, 2026.
Actions
Date Chamber Action
1/05/2026 House Filed with the Clerk by Rep. Michael Crawford
1/14/2026 House First Reading
1/14/2026 House Referred to Rules Committee
1/15/2026 House Added Chief Co-Sponsor Rep. Lisa Davis
1/21/2026 House Added Chief Co-Sponsor Rep. Kimberly Du Buclet
1/21/2026 House Added Chief Co-Sponsor Rep. La Shawn K. Ford
1/21/2026 House Added Chief Co-Sponsor Rep. Yolonda Morris
2/11/2026 House Assigned to Housing Committee