IHDA-HOUSING INCENTIVE PROGRAM

Summary

The bill orders the Illinois Housing Development Authority to give qualifying buyers a $7,500 grant, credit, or down‑payment help when they buy a moderately priced home they will occupy as their primary residence. It applies only to natural persons buying single‑family homes under a regional price cap and bars investors, straw buyers, and rental use. The program includes verification, hardship exemptions, and repayment penalties if the rules are broken.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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