IL HB4615

Amends the Rental Housing Support Program Act to establish operating expense limits for local administering agencies receiving grants: 10% for grants under $500,000 and 7% for grants over $500,000.

For multi-year grants, the Authority must calculate operating expenses on an annual pro rata share basis, applying the 10% or 7% rate depending on whether the annual share is above or below $500,000.

Requires the Authority to create a plan ensuring potential local administering agencies have adequate time and support to apply, including at least 9 months between funding notice and application deadline.

Maintains geographic distribution formula based on U.S. Census data for four areas: Chicago, suburban areas, small metropolitan areas, and rural areas, with re-determination when new Census data becomes available.

Allows up to 20% of rural area funds to be set aside for a single administering agency to distribute across rural localities with small numbers of subsidized housing units.