Illinois Compiled Statutes 30 ILCS 345/7.5 – Bond issuer; annual report
Current as of: 2024 | Check for updates
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The issuer of bonds utilizing bond volume cap from the Local Government Pool and the State Agency Pool shall file, if the issuer utilized the bond volume cap for any housing purpose, an annual report with the Governor and the General Assembly. The annual report from each issuer must include, but is not limited to, the following information:
(1) For multifamily rental units:
(A) the total number of developments;
(B) the total number of units, by income levels
(1) For multifamily rental units:
Terms Used In Illinois Compiled Statutes 30 ILCS 345/7.5
- individual: shall include every infant member of the species homo sapiens who is born alive at any stage of development. See Illinois Compiled Statutes 5 ILCS 70/1.36
- State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
(A) the total number of developments;
(B) the total number of units, by income levels
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served;
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(C) the total number of units targeted to each
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particular underserved population addressed in the Annual Comprehensive Housing Plan; and
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(D) any outreach efforts undertaken to serve the
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targeted units.
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(2) For single family homeownership units:
(A) the total number of loans and households who
(A) the total number of loans and households who
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achieved homeownership with issuer bond proceeds;
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(B) the amounts of individual loans generated by
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the bond proceeds;
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(C) the actual and effective interest rates
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offered to borrowers;
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(D) the total number of assisted homeowners
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identified as an underserved population addressed in the Annual Comprehensive Housing Plan, when available;
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(E) the number of first-time homebuyers; and
(F) the number of assisted homeowners who
(F) the number of assisted homeowners who
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received any homeownership counseling.
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(3) For all housing units:
(A) the percentage of bond proceeds used in
(A) the percentage of bond proceeds used in
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conjunction with the projects and loans;
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(B) the total cost of issuance for the bonds
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issued;
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(C) the amount of bond proceeds, if any, used to
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refund prior bonds; and
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(D) the total amount of unused proceeds, if any,
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at the time of the report.
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The Governor and the General Assembly shall utilize information readily available through existing reporting requirements to report on the State Agency Pool.