COVID-19-RENTAL ASSISTANCE

Creates the COVID-19 Emergency Rental Assistance Program Act. Establishes the COVID-19 Emergency Rental Assistance Program (program) to be administered by the Executive Director (Director) of the Illinois Housing Development Authority (IHDA). Permits the Director to direct an existing office or program within IHDA to implement the Act and to contract with one or more private entities to accelerate implementation of the Act. Provides that a household shall be eligible for rental assistance under the program if: (1) the household demonstrates an inability to pay rent between April 1, 2020 and October 31, 2020 due to COVID-19 or a State, local, or federal response to the COVID-19 pandemic; and (2) the owner of the dwelling unit rented by the household agrees to participate in the program. Requires IHDA to develop: (i) a process to confirm whether a household demonstrates an inability to pay rent; and (ii) a process to obtain the owner's consent to participate in the program after confirming a household's inability to pay rent. Provides that an owner who participates in the program shall: (a) not increase the gross rental rate for the dwelling unit between the date the owner consents to participate in the program and December 31, 2020; (b) not charge or attempt to collect a late fee for any rent payment due between April 1, 2020 and October 31, 2020; and (c) accept the payment provided under the program as full payment of the missed or insufficient rent payments for which the program provides assistance. Provides that each payment made under the program shall equal at least 80% of the amount of rent owed by a household; and that rental assistance shall cover no more than 7 months of a household's unpaid rent. Amends the State Finance Act. Creates the COVID-19 Emergency Rental Assistance Program for the purposes of the Act. Effective immediately.