Bill Status of SB 2413   103rd General Assembly

Short Description:  HOME BUYER SAVINGS ACCOUNT ACT

Senate Sponsors
Sen. Mattie Hunter-Cristina Castro and Natalie Toro

Last Action  View All Actions

DateChamber Action
  1/7/2025SenateSession Sine Die

Statutes Amended In Order of Appearance
New Act
65 ILCS 5/11-13-28 new
65 ILCS 5/11-13-29 new
20 ILCS 686/110 new
605 ILCS 5/5-907from Ch. 121, par. 5-907
605 ILCS 5/5-918from Ch. 121, par. 5-918
605 ILCS 5/5-918.1 new

Synopsis As Introduced
Creates the Home Buyer Savings Account Act. Sets forth provisions concerning legislative findings; establishment of first-time and second-chance home buyer savings accounts; use of first-time and second-chance home buyer savings accounts; account holder responsibilities; responsibilities of financial institutions; deduction of contributions, exclusion of earnings, and limitations; penalty for withdrawal; Department of Revenue forms; and an annual report. Defines terms. Amends the Illinois Municipal Code. Sets forth provisions concerning accessory dwelling units and housing. Amends the Reimagining Electric Vehicles in Illinois Act. Provides that the Department of Commerce and Economic Opportunity shall establish a pilot grant program to encourage the construction and rehabilitation of housing located near a REV Illinois Project. Amends the Illinois Highway Code. Sets forth provisions concerning units of local government which have in effect an impact fee ordinance or resolution. Makes other changes.

Actions 
DateChamber Action
  2/10/2023SenateFiled with Secretary by Sen. Mattie Hunter
  2/10/2023SenateFirst Reading
  2/10/2023SenateReferred to Assignments
  2/21/2023SenateAdded as Chief Co-Sponsor Sen. Cristina Castro
  10/19/2023SenateAdded as Co-Sponsor Sen. Natalie Toro
  1/7/2025SenateSession Sine Die

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