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 Bill Status of HB2931  100th General Assembly


Short Description:  CONDOS-COMBINED UNITS;SURPLUS

House Sponsors
Rep. Robyn Gabel

Last Action
DateChamber Action
  3/31/2017HouseRule 19(a) / Re-referred to Rules Committee

Statutes Amended In Order of Appearance
765 ILCS 605/18from Ch. 30, par. 318
765 ILCS 605/31from Ch. 30, par. 331


Synopsis As Introduced
Amends the Condominium Property Act. Provides that condominium bylaws shall provide that notwithstanding any provision in the condominium instruments to the contrary, the board of managers has discretion to: (i) address any budget surplus by transferring the surplus funds or portion thereof to the association's capital or operating reserves or applying the surplus funds to any other common expense; and (ii) address any deficit by incorporating the deficit into the following year's annual budget. In provisions governing the combination of units, defines "combination of any units". Provides that the exclusive right to use as a limited common element any portion of the common elements that is not necessary or practical for use by the owners of any other units is not a diminution of the ownership interests of all other unit owners requiring unanimous consent of all unit owners under other provisions of the Act or any percentage set forth in the condominium instruments. Provides that notwithstanding other provisions of the Act or the condominium instruments, an amendment pursuant to the Section governing combination of units is effective if it meets the requirements set forth in that Section.

Actions 
DateChamber Action
  2/9/2017HouseFiled with the Clerk by Rep. Robyn Gabel
  2/9/2017HouseFirst Reading
  2/9/2017HouseReferred to Rules Committee
  2/22/2017HouseAssigned to Judiciary - Civil Committee
  2/24/2017HouseTo Civil Procedure Subcommittee
  3/31/2017HouseRule 19(a) / Re-referred to Rules Committee

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