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Quinn Extends Affordable Housing Legislation
An extension of existing legislation will help put people to work and put families into homes.

Gov. Pat Quinn Monday signed a bill into law that extends a statewide program that leverages private investment in the development of affordable housing. Quinn says the extension means job creation.

"In these tough economic times, we must work to increase affordable housing for Illinois families and create more construction jobs," Quinn said.

The bill extends the Illinois Affordable Housing Tax Credit through 2016. The credit provides a 50 percent state income tax credit for affordable housing and employer-assisted donations to qualified non-profit affordable housing sponsors.

Gloria Materre, executive director of the Illinois Housing Development Authority believes the extension could create as many as 15,000 jobs.

(Illinois Radio Network)
08 03 10 by Newsroom
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