Sec. 17. Annual budget and report.
137 words·~1 min read·
/il/chapter-310/act-65/17A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 17. Annual budget and report.
(a)Within 9 months after the effective date of this Act, the Commission shall prepare a plan listing available resources, priorities for expenditures, and procedures for making application for grants and loans. The plan shall be published in the Illinois Register. Such a plan shall be prepared annually and published for each succeeding year.
(b)Within 60 days of the end of each fiscal year, the Commission shall prepare a report to the General Assembly describing the activities of the Affordable Housing Program for the preceding year.
(c)1% of permitted funds within the annual proposed budget stemming from the plan shall be allocated to support limited-equity cooperative housing through programs and subsidies for cooperative homebuyer assistance, building acquisition and renovation, assistance with monthly housing charges, predevelopment funding, and technical assistance.