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Illinois signs housing aid package with tax and loan boosts
Gov. James R. Thompson signed the Illinois Affordable Housing Act raising the real estate transfer tax to 50 cents per $500, funding a housing trust and open space program. The Home Ownership Made Easy plan offers state managed savings for down payments. A separate $84 million opens low-interest loans for first-time buyers, with many banks participating.
MENTIONED IN THIS ARTICLE
Chicago
UPI
James R. Thompson
Thompson
Illinois
Richard Luft
D-Pekin
State Conservation Department
Open Space Land
Michael Madigan