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310 ILCS 130/5

Purpose

Illinois · Illinois Compiled Statutes 310 ILCS 130 — Community Land Trust Home Ownership Act. · Status: effective

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310 ILCS 130/5, Purpose, Illinois, version 1 as recorded 2026-08-14, yourstate.us, https://yourstate.us/provision/1290723
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Purpose. The purpose of this Act is to ensure access to affordable housing loan products, grants, and other types of assistance for buyers and owners of housing located in a community land trust or other leasehold ownership structure with a ground lease between the buyer or owner and a 501(c)(3) organization. (Source: P.A. 104-370, eff. 8-15-25.)