TEACHER HOMEBUYER ASSISTANCE Senate SponsorsSen. Linda Holmes-Jacqueline Y. Collins-Kimberly A. Lightford-Dan Kotowski, Michael Bond, Michael Noland-Susan Garrett, James T. Meeks, David Koehler, Martin A. Sandoval, Edward D. Maloney, Gary Forby and Mattie Hunter House Sponsors(Rep. Eddie Washington-Elga L. Jefferies-Paul D. Froehlich, John E. Bradley, Sandy Cole, Wyvetter H. Younge, Cynthia Soto, Elizabeth Hernandez, Edward J. Acevedo, Harry Osterman, John A. Fritchey, Karen A. Yarbrough, Maria Antonia Berrios and Susana A Mendoza) 8/27/2007SenatePublic Act . . . . . . . . . 95-0449 New ActCreates the Teacher Homebuyer Assistance Act. Requires the Illinois Housing Development Authority to establish and administer a program to provide down payment assistance to public school teachers who teach in hard-to-staff schools or hard-to-staff positions for purchasing residences within the school district. Provides that the assistance shall be in the form of a deferred payment, low-interest subordinate mortgage loan with a term not longer than the term of the first mortgage loan, with interest accruing at a rate of up to 5% per annum. Provides that if the borrower has continuously been a teacher for the 5-year period immediately following the date of recordation of the loan deed of trust, then repayment of the loan shall be forgiven and considered a grant. Provides that repayment of the principal and accrued interest is due and payable upon the occurrence of certain events. Effective immediately.Senate Committee Amendment No. 1 Provides that the requirement that the Illinois Housing Development Authority establish and administer a teacher homebuyer assistance program and allocate funds is subject to appropriation.Senate Floor Amendment No. 2 Changes the definition of "hard-to-staff school" to mean an elementary or secondary school that ranks in the upper third of schools in this State in the number of teachers who leave their positions. Provides that the State Board of Education shall rank schools for this purpose based on mobility and teacher attrition over a 5-year average. 2/9/2007SenateFiled with Secretary by Sen. Linda Holmes 2/9/2007SenateFirst Reading 2/9/2007SenateReferred to Rules 2/21/2007SenateAssigned to Financial Institutions 2/23/2007SenateAdded as Chief Co-Sponsor Sen. Jacqueline Y. Collins 3/2/2007SenatePostponed - Financial Institutions 3/6/2007SenateAdded as Chief Co-Sponsor Sen. Kimberly A. Lightford 3/7/2007SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Linda Holmes 3/7/2007SenateSenate Committee Amendment No. 1 Referred to Rules 3/7/2007SenateSenate Committee Amendment No. 1 Rules Refers to Financial Institutions 3/8/2007SenateSenate Committee Amendment No. 1 Adopted 3/8/2007SenateDo Pass as Amended Financial Institutions; 007-002-000 3/8/2007SenatePlaced on Calendar Order of 2nd Reading March 13, 2007 3/8/2007SenateAdded as Chief Co-Sponsor Sen. Dan Kotowski 3/8/2007SenateAdded as Co-Sponsor Sen. Michael Bond 3/8/2007SenateAdded as Co-Sponsor Sen. Michael Noland 3/14/2007SenateSecond Reading 3/14/2007SenatePlaced on Calendar Order of 3rd Reading March 15, 2007 3/21/2007SenateSenate Floor Amendment No. 2 Filed with Secretary by Sen. Linda Holmes 3/21/2007SenateSenate Floor Amendment No. 2 Referred to Rules 3/27/2007SenateSenate Floor Amendment No. 2 Rules Refers to Financial Institutions 3/28/2007SenateSenate Floor Amendment No. 2 Recommend Do Adopt Financial Institutions; 008-000-000 3/30/2007SenateRecalled to Second Reading 3/30/2007SenateSenate Floor Amendment No. 2 Adopted; Holmes 3/30/2007SenatePlaced on Calendar Order of 3rd Reading 3/30/2007SenateAdded as Chief Co-Sponsor Sen. Susan Garrett 3/30/2007SenateAdded as Co-Sponsor Sen. James T. Meeks 3/30/2007SenateAdded as Co-Sponsor Sen. David Koehler 3/30/2007SenateAdded as Co-Sponsor Sen. Martin A. Sandoval 3/30/2007SenateAdded as Co-Sponsor Sen. Edward D. Maloney 3/30/2007SenateThird Reading - Passed; 056-000-000 4/2/2007HouseArrived in House 4/2/2007HousePlaced on Calendar Order of First Reading 4/2/2007HouseAlternate Chief Sponsor Removed Rep. Eddie Washington 4/2/2007HouseChief House Sponsor Rep. Eddie Washington 4/9/2007HouseFirst Reading 4/9/2007HouseReferred to Rules Committee 4/18/2007HouseAdded Alternate Chief Co-Sponsor Rep. Elga L. Jefferies 4/19/2007SenateAdded as Co-Sponsor Sen. Gary Forby 4/25/2007HouseAdded Alternate Chief Co-Sponsor Rep. Paul D. Froehlich 4/27/2007HouseAdded Alternate Co-Sponsor Rep. John E. Bradley 4/30/2007HouseAssigned to Housing and Urban Development Committee 5/1/2007HouseAdded Alternate Co-Sponsor Rep. Sandy Cole 5/16/2007HouseDo Pass / Short Debate Housing and Urban Development Committee; 005-000-000 5/17/2007HousePlaced on Calendar 2nd Reading - Short Debate 5/18/2007SenateAdded as Co-Sponsor Sen. Mattie Hunter 5/24/2007HouseSecond Reading - Short Debate 5/24/2007HousePlaced on Calendar Order of 3rd Reading - Short Debate 5/30/2007HouseThird Reading - Short Debate - Passed 117-000-000 5/30/2007SenatePassed Both Houses 5/30/2007HouseAdded Alternate Co-Sponsor Rep. Wyvetter H. Younge 6/4/2007HouseAdded Alternate Co-Sponsor Rep. Cynthia Soto 6/4/2007HouseAdded Alternate Co-Sponsor Rep. Elizabeth Hernandez 6/4/2007HouseAdded Alternate Co-Sponsor Rep. Edward J. Acevedo 6/4/2007HouseAdded Alternate Co-Sponsor Rep. Harry Osterman 6/4/2007HouseAdded Alternate Co-Sponsor Rep. John A. Fritchey 6/4/2007HouseAdded Alternate Co-Sponsor Rep. Karen A. Yarbrough 6/4/2007HouseAdded Alternate Co-Sponsor Rep. Maria Antonia Berrios 6/4/2007HouseAdded Alternate Co-Sponsor Rep. Susana A Mendoza 6/28/2007SenateSent to the Governor 8/27/2007SenateGovernor Approved 8/27/2007SenateEffective Date August 27, 2007 8/27/2007SenatePublic Act . . . . . . . . . 95-0449