Illinois § 5
Full text of Illinois Illinois Compiled Statutes § 5, with citation guidance and answers to common questions.
§ 5.
Findings. The General Assembly finds and declares the following: (1) Two federal agencies, the Federal Home Owners' Loan Corporation and the Federal Housing Administration, played a major role in the development of the modern home mortgage origination industry. (2) Both federal agencies explicitly considered the racial and ethnic make-up of neighborhoods when underwriting loans and valuing the real estate to be used as home loan collateral. (3) Both agencies devalued property or refused to make loans secured by property in communities of color. (4) The harmful consequences of this discrimination remain unresolved. (Source: P.A. 102-934, eff. 1-1-23.)
Frequently Asked Questions About Illinois § 5
What does Illinois Compiled Statutes § 5 cover?
Section 5 is part of the Illinois Compiled Statutes, the codified statutory law of Illinois. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Illinois § 5?
A common citation format is "Illinois Compiled Statutes § 5" (Illinois). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Illinois law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Illinois official source linked on this page or consult a licensed Illinois attorney.
How does Illinois § 5 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Illinois can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Illinois.