SB3925 - 104th General Assembly (2025-2026)

HOME EQUITY-FLOOD REBATE
Last Action
2/06/2026 - Senate: Referred to Assignments
Senate Sponsors
Sen. Mike Porfirio
Statutes Amended In Order of Appearance
65 ILCS 95/11  from Ch. 24, par. 1611
Synopsis As Introduced
Amends the Home Equity Assurance Act. Provides that a governing commission may establish a program to provide a one-time per household direct relief payment in the form of a rebate to a member who owns a residence that is subject to flood damage. Provides that the governing commission may establish a limit on the amount of rebates that may be issued under this subsection. Provides that members shall be required to submit qualified receipts to the governing showing costs incurred as a result of flood damage to receive a rebate under the rebate program established under the provisions. Provides that the rebate shall provide up to 50% reimbursement, but shall not exceed $1,000. Provides that the rebate program shall last for 3 years unless reapproved by the governing commission.
Actions
DateChamberAction
2/06/2026SenateFiled with Secretary by Sen. Mike Porfirio
2/06/2026SenateFirst Reading
2/06/2026SenateReferred to Assignments