Illinois legislation · 104th General Assembly
Illinois SB3925: HOME EQUITY-FLOOD REBATE
Status: Signed into law, August 14, 2026
Amends the Home Equity Assurance Act. Provides that a governing commission may establish a program to provide a one-time per household direct relief payment in the form of a rebate to a member who owns a residence that is subject to flood damage. Provides that the governing commission may establish a limit on the amount of rebates that may be issued under this subsection. Provides that members shall be required to submit qualified receipts to the governing commission showing costs incurred as a result of flood damage to receive a rebate under the rebate program established under the provisions. Provides that the rebate shall provide up to 50% reimbursement, but shall not exceed $1,000. Provides that the rebate program shall last for 3 years unless reapproved by the governing commission.
What the bill says
A bill FOR 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026SB3925Introduced 2/6/2026, by Sen. Mike PorfirioSYNOPSIS AS INTRODUCED: ILCS 95/11from Ch. 24, par. 1611 65 ILCS 95/11 from Ch. 24, par. 1611 ILCS 95/11 from Ch. 24, par. 1611 Amends the Home Equity Assurance Act. Provides that a governingcommission may establish a program to provide a one-time per householddirect relief payment in the form of a rebate to a member who owns aresidence that is subject to flood damage…
From the introduced text, February 6, 2026:
A BILL FOR 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026SB3925Introduced 2/6/2026, by Sen. Mike PorfirioSYNOPSIS AS INTRODUCED: ILCS 95/11from Ch. 24, par. 1611 65 ILCS 95/11 from Ch. 24, par. 1611 ILCS 95/11 from Ch. 24, par. 1611 Amends the Home Equity Assurance Act. Provides that a governingcommission may establish a program to provide a one-time per householddirect relief payment in the form of a rebate to a member who owns aresidence that is subject to flood damage. Provides that the governingcommission may establish a limit on the amount of rebates that may beissued under this subsection. Provides that members shall be required tosubmit qualified receipts to the governing showing costs incurred as aresult of flood damage to receive a rebate under the rebate programestablished under the provisions. Provides that the rebate shall provideup to 50% reimbursement, but shall not exceed $1,000. Provides that therebate program shall last for 3 years unless reapproved by the governingcommission. LRB104 20718 RTM 34219 b LRB104 20718 RTM 34219 b LRB104 20718 RTM 34219 b A BILL FOR SB3925LRB104 20718 RTM 34219 b SB3925 LRB104 20718 RTM 34219 b SB3925 LRB104 20718 RTM 34219 b AN ACT concerning local government. Be it enacted by the People of the State of Illinois, represented in the General Assembly: Section 5.The Home Equity Assurance Act …