SB3667 Summary

• Amends the Rental Housing Support Program Act to restrict fund distribution to only annual receipts from the Rental Housing Support Program State surcharge (July 1 to June 30) that are appropriated each year, eliminating use of other Authority funds for the program.

• Defines "annual receipts" as revenue derived from the Rental Housing Support Program State surcharge collected during the fiscal year period.

• Requires the Illinois Housing Development Authority to perform annual reconciliations of all program distributions and permits offsetting future distributions to balance geographic distribution requirements across the state.

• Makes technical corrections changing references from "program" to "Program" for consistency throughout the amended sections.

• Takes effect immediately upon becoming law.