Loading
Loading
Your feedback directly shapes Sporos.
Sign in to track your feedback history
Amends the Common Interest Community Association Act. Requires a common interest association to conduct and update a reserve study every 5 years. "Reserve study" means an analysis of the reserves required for future major maintenance, repairs, and replacements of the common elements. Grants a 5-year window for an association to conduct a reserve study or update a current study. Requires a reserve study to be made available to any prospective purchaser of a unit upon request for a resale of any unit in the community. Exempts an association with 15 or fewer units but still requires the board to comply with the budgeting and reserve requirements elsewhere in the Act. Amends the Condominium Property Act to make similar changes.
Introduced
Feb 4, 2025
Last Action
Jan 28, 2026
Session
IL 104th
Sponsors
1 primary · 4 co
Added Co-Sponsor Rep. Jay Hoffman
Chief Sponsor Changed to Rep. Kam Buckner
Added Co-Sponsor Rep. Janet Yang Rohr
Rule 19(a) / Re-referred to Rules Committee
House Committee Amendment No. 1 Rule 19(c) / Re-referred to Rules Committee
Added Co-Sponsor Rep. Harry Benton
House Committee Amendment No. 1 Rules Refers to Judiciary - Civil Committee
To Commercial & Property Law Subcommittee
House Committee Amendment No. 1 Filed with Clerk by Rep. Terra Costa Howard
House Committee Amendment No. 1 Referred to Rules Committee
Assigned to Judiciary - Civil Committee
Filed with the Clerk by Rep. Terra Costa Howard
Referred to Rules Committee
First Reading
Added Chief Co-Sponsor Rep. Rick Ryan
Get a plain-English explanation of what this bill does, who it affects, and why it matters.
Added Co-Sponsor Rep. Jay Hoffman