IHDA-HOUSING INCENTIVE PROGRAM

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HB4852 - 104th General Assembly

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104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026
HB4852

Introduced , by Rep. Jed Davis

SYNOPSIS AS INTRODUCED:

New Act

Creates the Owner-Occupied Housing Incentive Act. Requires the
Illinois Housing Development Authority to administer an owner-occupant
housing incentive program that provides financial incentives to qualifying
purchasers for the purchase of moderately priced owner-occupied homes.
Requires the Authority to develop necessary forms, establish verification
procedures, and adopt rules to implement the program that are consistent
with the provisions of the Act. Requires the Authority to provide a $7,500
owner-occupant housing incentive to any qualifying purchaser of an
eligible property. Provides that the owner-occupant housing incentive may
be provided as a grant, closing cost credit, down payment assistance, or
any other similar mechanism approved by the Authority, subject to
available appropriations. Contains provisions concerning eligibility
requirements; hardship exemptions; program restrictions; verification and
compliance; and penalties and repayment. Provides that the Act shall be
construed narrowly to promote owner-occupied home purchases and that
nothing in the Act shall be interpreted to regulate or restrict lawful
rental housing, landlord activity, or property ownership outside the scope
of the incentive created under the Act. Effective immediately.
LRB104 18447 KTG 31889 b

A BILL FOR

HB4852
LRB104 18447 KTG 31889 b
1

AN ACT concerning housing.

2

Be it enacted by the People of the State of Illinois,
3
represented in the General Assembly:

4

Section 1.
Short title.
This Act may be cited as the
5
Owner-Occupied Housing Incentive Act.

6

Section 5.
Legislative findings and purpose.
The General
7
Assembly finds that:
8

(1) Home ownership strengthens families, neighborhoods,
9
and local communities.
10

(2) Rising housing costs and investor-driven purchasing
11
have made it more difficult for individuals and families to
12
purchase homes they intend to occupy as their primary
13
residence.
14

(3) Targeted incentives for owner-occupied purchases can
15
improve housing stability without disrupting the broader
16
housing market.
17

The purpose of this Act is to provide a narrowly tailored
18
housing incentive for purchasers who intend to live in the
19
home they buy, while preventing use of the incentive by
20
landlords, investors, or speculative purchasers.

21

Section 10.
Definitions.
As used in this Act:
22

"Authority" means the Illinois Housing Development

HB4852
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LRB104 18447 KTG 31889 b
1
Authority.
2

"Eligible property" means a residential dwelling unit
3
intended for use as a single primary residence, but does not
4
include: (1) multi-unit residential buildings; (2) properties
5
containing 2 or more dwelling units; (3) properties purchased
6
in whole by any entity other than a natural person; or (4) any
7
property purchased by or titled in the name of a corporation,
8
limited liability company, partnership, or similar
9
non-natural-person entity, except a revocable living trust
10
used solely for estate planning purposes by the occupant.
11

"Incentive" means the $7,500 financial benefit provided
12
under Section 20.
13

"Owner-occupant" means a natural person who purchases an
14
eligible property and intends to occupy the property as the
15
purchaser's primary residence.
16

"Owner-occupant housing incentive" means a grant, credit,
17
subsidy, or other financial assistance provided under this Act
18
by the Authority.
19

"Primary residence" means the dwelling in which a person
20
resides for the majority of the calendar year and which is
21
listed as the person's primary residence for tax and legal
22
purposes.
23

"Regional price cap" means a purchase price not exceeding
24
110% of the median sale price for single-family homes in the
25
county in which the property is located, as determined
26
annually by the Authority using publicly available market

HB4852
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LRB104 18447 KTG 31889 b
1
data.
2

"Straw buyer" means any individual who purchases property
3
on behalf of, or for the beneficial use of, an investor entity.

4

Section 15.
Administration.
The Authority shall administer
5
an owner-occupant housing incentive program that provides
6
financial incentives to qualifying purchasers for the purchase
7
of moderately priced owner-occupied homes. The Authority shall
8
develop necessary forms, establish verification procedures,
9
and adopt rules to implement the program that are consistent
10
with the provisions of this Act.

11

Section 20.
Incentive.
The Authority shall provide a
12
$7,500 owner-occupant housing incentive to any qualifying
13
purchaser of an eligible property meeting the requirements of
14
this Act. The owner-occupant housing incentive may be provided
15
as a grant, closing cost credit, down payment assistance, or
16
any other similar mechanism approved by the Authority.
17
Owner-occupant housing incentives shall be distributed subject
18
to available appropriations.

19

Section 25.
Eligibility requirements.
To qualify for an
20
owner-occupant housing incentive, a purchaser must:
21

(1) be a natural person;
22

(2) purchase an eligible property under any applicable
23
regional price cap established by the Authority;

HB4852
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LRB104 18447 KTG 31889 b
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(3) certify intent to occupy the property as the
2
purchaser's primary residence for a minimum of 12 consecutive
3
months following closing;
4

(4) be or intend to become an Illinois resident by the time
5
of closing;
6

(5) not have purchased more than 2 residential properties
7
in the preceding 3 years, excluding the purchaser's primary
8
residence; and
9

(6) execute an owner-occupancy affidavit prescribed by the
10
Authority.

11

Section 30.
Hardship exemptions.
A qualifying purchaser
12
shall not be subject to repayment or penalty under Section 45
13
if the qualifying purchaser sells the property within 12
14
months due to:
15

(1) military orders, deployment, or permanent change of
16
station;
17

(2) medical hardship, including serious illness or
18
disability of the purchaser or a dependent household member;
19

(3) employment relocation requiring a move of more than 50
20
miles from the property; or
21

(4) material loss of income, defined as an involuntary
22
reduction of household income of 20% or more, verified through
23
documentation as required by the Authority.

24

Section 35.
Restrictions.

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LRB104 18447 KTG 31889 b
1

(a) An owner-occupant housing incentive may not be awarded
2
to any purchaser acting as a straw buyer or on behalf of
3
another person or entity.
4

(b) An owner-occupant housing incentive may not be awarded
5
for any property intended to be rented, leased, or otherwise
6
occupied by a person other than the purchaser.

7

Section 40.
Verification and compliance.
8

(a) The Authority may require documentation reasonably
9
necessary to verify eligibility and continued compliance with
10
this Act.
11

(b) The Authority may conduct targeted audits based on
12
reasonable evidence of noncompliance.

13

Section 45.
Penalties and repayment.
14

(a) If a purchaser fails to satisfy the owner-occupancy
15
requirements of this Act and no hardship exemption applies,
16
the purchaser shall: (1) repay the full owner-occupant housing
17
incentive received; and (2) pay a civil penalty equal to 25% of
18
the incentive amount.
19

(b) The Authority may request that the Attorney General
20
bring a civil action to recover amounts owed under this
21
Section.
22

(c) No lien shall be filed or recorded against an eligible
23
property solely for repayment of an incentive or civil penalty
24
under this Act.

HB4852
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LRB104 18447 KTG 31889 b
1

Section 50.
Construction.
2

(a) This Act shall be construed narrowly to promote
3
owner-occupied home purchases.
4

(b) Nothing in this Act shall be interpreted to regulate
5
or restrict lawful rental housing, landlord activity, or
6
property ownership outside the scope of the incentive created
7
by this Act.
8

(c) This Act does not create a private cause of action.

9

Section 99.
Effective date.
This Act takes effect upon
10
becoming law.

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