HB4283

Illinois HB4283 establishes a First-Generation Homebuyer Down Payment Assistance Program.

HB4283 amends the Illinois Housing Development Act to create a First-Generation Homebuyer Down Payment Assistance Program. The Illinois Housing Development Authority will administer this program, providing targeted assistance to eligible first-generation homebuyers. Eligible individuals must have never owned a home or not owned one in the last three years, have parents or guardians who have never owned a home, or were in foster care before age 18. Assistance is prioritized for those in community priority areas, with low incomes, or in areas with low homeownership rates or high housing costs.