EMPLOYER-ASSISTED HOUSING

Creates the Live Near Work Act and amends the State Finance Act. Creates the Live Near Work Fund as a special fund in the State treasury. Authorizes the Illinois Housing Development Authority to make grants from the Fund to employers, municipalities, counties, and nonprofit housing organizations for promoting employer-assisted housing programs and to enact regulations establishing eligibility for these grants. Establishes guidelines for investments by employers that the Authority may support with grants from the Fund. Provides that grant funds may be used to support administration and technical assistance costs. Establishes criteria by which nonprofit housing organizations, municipalities, and counties are eligible for grant funds. Requires the Authority to report annually to the General Assembly on the program. Provides that the Act is repealed on July 1, 2009.