IDHA-REFINANCE MORTGAGE
Summary
Amends the Illinois Housing Development Act. Provides that the Authority must use at least $1,000,000,000 of its borrowing authority to refinance residential adjustable-rate mortgages with increased interest rates that take effect within 5 years after the effective date of the amendatory Act. Provides that the Authority must work with entities in the private sector to make and manage the loans. Effective immediately.
Bill status
failed
1 of 4 stages cleared
Introduction
May 2008
Committee Review
Floor Vote
Governor
Introduced May 16, 2008
Last action Jan 13, 2009
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
12
Key actions
0
Committee
1
Jan 13, 2009
House · Failed
Session Sine Die
May 19, 2008
House · Referred to committee
Referred to Rules Committee
0 primary · 0 co-sponsors
Sponsors
No sponsor information available.
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