Senate Sponsors: LUECHTEFELD-KLEMM. House Sponsors: BURKE-SCHOENBERG-BLACK-FRITCHEY-MOFFITT Short description: STATE MONEYS ACT-HOME LOANS Synopsis of Bill as introduced: Amends the State Treasurer Act. Makes a grammatical change in the Section regarding bond. SENATE AMENDMENT NO. 1. Deletes reference to: 15 ILCS 505/1 Adds reference to: 15 ILCS 520/7 from Ch. 130, par. 26 Deletes everything. Amends the Deposit of State Moneys Act. Changes home loan programs by which financial institutions may qualify as State depositories. Provides that the mortgaged property may house up to 4 families, rather than one family. Provides that loans may be for Illinois citizens who have defaulted on a mortgage because of a financial hardship due to circumstances beyond their control or who can be made current on mortgages in arrears, as well as citizens who cannot qualify for mortgages at prevailing rates. Specifies factors for determining eligibility. Effective immediately. Last action on Bill: PUBLIC ACT.............................. 92-0531 Last action date: FEB-08-2002 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 1 END OF INQUIRY Full Text Bill Status