Fabio
87 lines
7.0 KiB
Markdown
87 lines
7.0 KiB
Markdown
---
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type: "Bill"
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title: "IHDA-LIMITED-PROFIT ENTITY"
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description: "Amends the Illinois Housing Development Act. Removes from the definition of the term \"limited-profit entity\" limited-profit entities having articles of incorporation which provide that if the limited-profit entity receives a loan from the Illinois Housing Development Authority, the Chairman of the Authority shall have the power, if he determines that any such loan is in jeopardy of not being repaid, or that the proposed development for which such loan was made is in jeopardy of not being constructed, or the limited-profit entity is otherwise in violation of rules and regulations promulgated by the Authority, to appoint to the board of directors or other comparable controlling body of such limited-profit entity a number of new directors or persons, which number shall be sufficient to constitute a voting majority of such board or controlling body. Removes provisions prohibiting a limited-profit entity which receives loans from the Authority from making distributions in any one year with respect to a development financed by the Authority in excess of 6% of its equity in such development. Adds language providing that the equity in a development shall consist of the difference between the amount of the mortgage loan and the total cost of the development. Provides that the Authority shall approve a tenant selection plan submitted by the applicant for the loan prior to disbursing any funds in connection with the acquisition, rehabilitation, or construction of a development (rather than providing that prior to making a loan commitment for a development, the Authority shall approve a tenant selection plan submitted by the applicant for the loan). Effective immediately."
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jurisdiction: "us/states/il"
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legislature: "Illinois General Assembly"
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session: "98th"
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identifier: "HB 2830"
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citation: "Illinois HB 2830 (98th)"
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classification: ["bill"]
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subjects: []
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status: "enacted"
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primary_sponsors: []
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version_count: 3
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action_count: 27
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vote_count: 2
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first_action: "2013-02-22"
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last_action: "2013-08-09"
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source: "openstates"
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source_identifier: "ocd-bill/e6a8f645-28aa-4242-97e7-207f427b468d"
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source_url: "http://ilga.gov/legislation/BillStatus.asp?DocNum=2830&GAID=12&DocTypeID=HB&LegId=74662&SessionID=85&GA=98"
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source_hash: "9c7bf0f986f1ebe1a68fe239e19926d8004dc1f5661e0fb6b2c0ce29c47dd4ea"
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vintage: "2026-07-01"
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source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
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retrieved_at: "2026-07-06"
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confidence: "reported"
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tags: ["legislation", "bill", "us-il"]
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---
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# Illinois HB 2830 (98th) — IHDA-LIMITED-PROFIT ENTITY
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Amends the Illinois Housing Development Act. Removes from the definition of the term "limited-profit entity" limited-profit entities having articles of incorporation which provide that if the limited-profit entity receives a loan from the Illinois Housing Development Authority, the Chairman of the Authority shall have the power, if he determines that any such loan is in jeopardy of not being repaid, or that the proposed development for which such loan was made is in jeopardy of not being constructed, or the limited-profit entity is otherwise in violation of rules and regulations promulgated by the Authority, to appoint to the board of directors or other comparable controlling body of such limited-profit entity a number of new directors or persons, which number shall be sufficient to constitute a voting majority of such board or controlling body. Removes provisions prohibiting a limited-profit entity which receives loans from the Authority from making distributions in any one year with respect to a development financed by the Authority in excess of 6% of its equity in such development. Adds language providing that the equity in a development shall consist of the difference between the amount of the mortgage loan and the total cost of the development. Provides that the Authority shall approve a tenant selection plan submitted by the applicant for the loan prior to disbursing any funds in connection with the acquisition, rehabilitation, or construction of a development (rather than providing that prior to making a loan commitment for a development, the Authority shall approve a tenant selection plan submitted by the applicant for the loan). Effective immediately.
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## Version chain
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The bill's text revisions, in order — the diff chain from filing to enrollment.
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1. **Introduced** (filed) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09800HB2830&GA=98&SessionId=85&DocTypeId=HB&LegID=74662&DocNum=2830&GAID=12&Session=&print=true)
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2. **Engrossed** (committee substitute) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09800HB2830eng&GA=98&SessionId=85&DocTypeId=HB&LegID=74662&DocNum=2830&GAID=12&Session=&print=true)
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3. **Enrolled** (enrolled) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09800HB2830enr&GA=98&SessionId=85&DocTypeId=HB&LegID=74662&DocNum=2830&GAID=12&Session=&print=true)
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## Votes
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- Third Reading — **105–0** (pass) · lower
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- Third Reading — **54–0** (pass) · upper
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## Sponsors
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- Arthur Turner — primary (person)
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## Timeline
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The legislative action history — every referral, reading, and vote.
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- **2013-02-22** Filed with the Clerk by Rep. Arthur Turner `filing`
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- **2013-02-26** First Reading `reading-1`
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- **2013-02-26** Referred to Rules Committee `referral-committee`
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- **2013-03-04** Assigned to Housing Committee `referral-committee`
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- **2013-03-14** Do Pass / Short Debate Housing Committee; 011-000-000 `committee-passage`
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- **2013-03-15** Placed on Calendar 2nd Reading - Short Debate
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- **2013-03-19** Second Reading - Short Debate `reading-2`
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- **2013-03-19** Placed on Calendar Order of 3rd Reading - Short Debate
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- **2013-03-22** Third Reading - Short Debate - Passed 105-000-001 `reading-3, passage`
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- **2013-03-22** Added Chief Co-Sponsor Rep. Al Riley
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- **2013-03-22** Added Chief Co-Sponsor Rep. Kenneth Dunkin
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- **2013-03-22** Arrive in Senate `introduction`
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- **2013-03-22** Placed on Calendar Order of First Reading `reading-1`
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- **2013-04-01** Chief Senate Sponsor Sen. Jacqueline Y. Collins
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- **2013-04-03** First Reading `reading-1`
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- **2013-04-03** Referred to Assignments `referral-committee`
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- **2013-04-16** Assigned to Financial Institutions `referral-committee`
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- **2013-05-01** Do Pass Financial Institutions; 008-000-000 `committee-passage`
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- **2013-05-01** Placed on Calendar Order of 2nd Reading May 2, 2013
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- **2013-05-07** Second Reading `reading-2`
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- **2013-05-07** Placed on Calendar Order of 3rd Reading May 8, 2013
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- **2013-05-15** Third Reading - Passed; 054-000-000 `reading-3, passage`
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- **2013-05-15** Passed Both Houses
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- **2013-06-13** Sent to the Governor `executive-receipt`
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- **2013-08-09** Governor Approved `executive-signature`
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- **2013-08-09** Effective Date August 9, 2013
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- **2013-08-09** Public Act . . . . . . . . . 98-0260 `became-law`
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## Source
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OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/e6a8f645-28aa-4242-97e7-207f427b468d`. Confidence: reported (aggregated from official Illinois legislature records).
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