Illinois § 6z-139
Full text of Illinois Illinois Compiled Statutes § 6z-139, with citation guidance and answers to common questions.
§ 6z-139.
Sec. 6z-139. The Cooperative Housing Fund. (a) The Cooperative Housing Fund is created as a special fund in the State treasury. The Fund may accept moneys from any lawful source. Any interest earned on moneys in the Fund shall be deposited into the Fund. (b) Subject to appropriation, moneys in the Fund shall be used by the Illinois Housing Development Authority to award grants to not-for-profit organizations, units of local government, or other community organizations for cooperative housing development for housing residents that have an income that is less than or equal to the median income of the residents of the municipality in which the development is to occur. The Illinois Housing Development Authority may issue up to $5,000,000 in total grants under this Section each fiscal year for fiscal years beginning on or after July 1, 2023. (c) The Illinois Housing Development Authority shall adopt rules establishing requirements for the distribution of grant moneys under this Section and the determination of which persons or entities are eligible for grants under this Section, and it may adopt any other rules necessary to implement this Section and administer the Fund. (d) As used in this Section, "cooperative housing" means a residential building owned by a corporation whose residents are shareholders of the corporation based in part on the relative size of the unit in which they live. (Source: P.A. 103-89, eff. 6-9-23.)
Frequently Asked Questions About Illinois § 6z-139
What does Illinois Compiled Statutes § 6z-139 cover?
Section 6z-139 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 § 6z-139?
A common citation format is "Illinois Compiled Statutes § 6z-139" (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 § 6z-139 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.