Cal. Civ. Code § 380.615
Reconciliations
Operative Text
Each Developer shall, every quarter during the term of its Commitment, perform a Reconciliation and, if the Reconciliation indicates that the Developer has received funds exceeding the amount required for Rental Assistance payments, the Developer shall return all excess funds to its funding Agency within 30 days.� The funding Agency may reduce the amount of subsequent quarterly payments to the Developer under the Commitment to offset Reconciliation amounts owing to, but not forwarded to, the Agency.
Under 47 Ill. Admin. Code pt. 380 § 380.615, developers participating in Illinois rental assistance programs are required to conduct a financial reconciliation every quarter throughout the life of their commitment. If that reconciliation reveals that a developer received more funds than were actually needed for rental assistance payments, the surplus must be returned to the funding agency within 30 days. The funding agency is also permitted to recoup any unforwarded amounts by reducing the developer's future quarterly payments.
Plain English — not legal advice.
Property owners and developers operating under a Commitment governed by 47 Ill. Admin. Code pt. 380 § 380.615 generally maintain accurate, up-to-date records of all rental assistance funds received and disbursed so that quarterly reconciliations can be completed on time. A compliant operator promptly identifies any excess funds and remits them to the funding agency within the 30-day window. Operators also account for the possibility that the funding agency may adjust future quarterly disbursements to recover any amounts that were not timely returned.
General guidance for property managers — not legal advice for your specific situation. Consult an attorney for advice on your case.
Tenants whose housing is supported by a rental assistance program subject to 47 Ill. Admin. Code pt. 380 § 380.615 may find it useful to understand that this rule governs how developers manage and return excess program funds. If a tenant believes that mismanagement of rental assistance funds is affecting their housing stability, they may consider reaching out to the Illinois Department of Commerce and Economic Opportunity or the relevant funding agency for information. Tenant-rights organizations can also help explain how this provision interacts with a tenant's broader housing protections.
General guidance for tenants — not legal advice for your specific situation. Consult a tenant-rights organization or attorney for advice on your case.
Generated September 18, 2026 — auto-generated, not yet human-reviewed. See /transparency for methodology.
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