Illinois § 3

§ 3.

Definitions. As used in this Act: (a) "Program" means the Illinois Affordable Housing Program. (b) "Trust Fund" means the Illinois Affordable Housing Trust Fund. (b-5) (Blank). (c) "Low-income household" means a single person, family or unrelated persons living together whose adjusted income is more than 50%, but less than 80%, of the median income of the area of residence, adjusted for family size, as such adjusted income and median income for the area are determined from time to time by the United States Department of Housing and Urban Development for purposes of Section 8 of the United States Housing Act of 1937. (d) "Very low-income household" means a single person, family or unrelated persons living together whose adjusted income is not more than 50% of the median income of the area of residence, adjusted for family size, as such adjusted income and median income for the area are determined from time to time by the United States Department of Housing and Urban Development for purposes of Section 8 of the United States Housing Act of 1937. (e) "Affordable housing" means residential housing that, so long as the same is occupied by low-income households or very low-income households, requires payment of monthly housing costs, including utilities other than telephone, of no more than 30% of the maximum allowable income as stated for such households as defined in this Section. (f) "Multi-family housing" means a building or buildings providing housing to 5 or more households. (g) "Single-family housing" means a building containing one to 4 dwelling units, including a mobile home as defined in subsection (b) of Section 3 of the Mobile Home Landlord and Tenant Rights Act, as amended. (h) "Community-based organization" means a not-for-profit entity whose governing body includes a majority of members who reside in the community served by the organization. (i) "Advocacy organization" means a not-for-profit organization which conducts, in part or in whole, activities to influence public policy on behalf of low-income or very low-income households. (j) "Program Administrator" means the Illinois Housing Development Authority. (k) "Funding Agent" means the Illinois Department of Human Services. (l) "Commission" means the Affordable Housing Advisory Commission. (m) "Congregate housing" means a building or structure in which 2 or more households, inclusive, share common living areas and may share child care, cleaning, cooking and other household responsibilities. (n) "Eligible applicant" means a proprietorship, partnership, for-profit corporation, not-for-profit corporation or unit of local government which seeks to use fund assets as provided in this Article. (o) "Moderate income household" means a single person, family or unrelated persons living together whose adjusted income is more than 80% but less than 120% of the median income of the area of residence, adjusted for family size, as such adjusted income and median income for the area are determined from time to time by the United States Department of Housing and Urban Development for purposes of Section 8 of the United States Housing Act of 1937. (p) "Affordable Housing Program Trust Fund Bonds or Notes" means the bonds or notes issued by the Program Administrator under the Illinois Housing Development Act to further the purposes of this Act. (q) "Trust Fund Moneys" means all moneys, deposits, revenues, income, interest, dividends, receipts, taxes, proceeds and other amounts or funds deposited or to be deposited into the Trust Fund pursuant to subsection (b) of Section 5 of this Act and any proceeds, investments or increase thereof. (r) "Program Escrow" means accounts, except those accounts relating to any Affordable Housing Program Trust Fund Bonds or Notes, designated by the Program Administrator, into which Trust Fund Moneys are deposited. (s) "Common household pet" means a domesticated animal, such as a dog (canis lupus familiaris) or cat (felis catus), which is commonly kept in the home for pleasure rather than for commercial purposes. (Source: P.A. 102-283, eff. 1-1-22; 103-8, eff. 7-1-23; 103-616, eff. 7-1-24.)