HB1543ham001 97TH GENERAL ASSEMBLY

Rep. Daniel V. Beiser

Filed: 3/8/2011

09700HB1543ham001 LRB097 07215 AJO 52188 a

AMENDMENT TO HOUSE BILL 1543

AMENDMENT NO. ______. Amend House Bill 1543 on page 1, by replacing line 5 with the following:

"amended by changing Sections 5 and 35 as follows:

(765 ILCS 77/5)

Sec. 5. Definitions. As used in this Act, unless the context otherwise requires the following terms have the meaning given in this Section.

"Residential real property" means real property improved with not less than one nor more than 4 residential dwelling units; units in residential cooperatives; or, condominium units, including the limited common elements allocated to the exclusive use thereof that form an integral part of the condominium unit.

"Seller" means every person or entity who is an owner, beneficiary of a trust, contract purchaser or lessee of a ground lease, who has an interest (legal or equitable) in residential real property. However, "seller" shall not include any person who has both (i) never occupied the residential real property and (ii) never had the management responsibility for the residential real property nor delegated such responsibility for the residential real property to another person or entity.

"Prospective buyer" means any person or entity negotiating or offering to become an owner or lessee of residential real property by means of a transfer for value to which this Act applies.

"Toxic mold" means stachybotrys chartarum, penicillium, aspergillus, or any other mold that excretes a significant amount of toxic compounds called mycotoxins and that has a tendency to produce severe adverse health effects.

(Source: P.A. 90-383, eff. 1-1-98.)".