Creates the Home for Good Act. Provides that the Home for Good Program is created as a statewide coordinated program designed to provide housing and services to persons with arrest and conviction records and persons who are currently or formerly incarcerated (targeted population). Provides that the Illinois Housing Development Authority (IHDA) shall be responsible for providing appropriate resources to potential applicants to acquire, develop, and rehabilitate permanent affordable housing units and transitional housing units that are designated exclusively for the targeted population. Provides that the granting and application process shall follow the existing program model of the Housing for Justice Involved Individuals Program. Requires IHDA to be responsible for providing site-based rental housing subsidies to community organizations who work with the targeted population which may be used to enter into lease agreements and master lease agreements for the purpose of providing housing for program participants, and tenant-based rental subsidies. Requires the Illinois Criminal Justice Information Authority (ICJIA) to provide appropriate resources to community organizations who work with the targeted population. Provides that such resources shall be used to provide case management and reentry navigation services to Program participants; and to make supportive services available to Program participants, which may include housing and related services, physical and behavioral health, education, family reunification and relationship building, transportation, job training, acquiring vital documents, and meeting basic needs. Contains provisions concerning a requirement that a housing needs assessment tool be administered to all individuals exiting the Illinois Department of Corrections; a requirement that the Executive Director of IHDA create a Home for Good Institute to provide training and technical assistance to community organizations who intend to acquire, develop, rehabilitate, or operate permanent and transitional housing units for the targeted population; the establishment of the Home for Good Oversight Board; and rulemaking authority to implement the Act. Effective immediately.