CONDO-DISTRESSED PROPERTY Senate SponsorsSen. Jacqueline Y. Collins and Martin A. Sandoval-James T. Meeks-Kwame Raoul-Mattie Hunter House Sponsors(Rep. Marlow H. Colvin) 1/13/2009SenateSession Sine Die 765 ILCS 605/14.5 newAmends the Condominium Property Act. Provides procedures for addressing distressed condominium property that is a danger, blight, or nuisance to the surrounding community or the public and that is substantially unoccupied, without utilities, or in a serious negative condition. Provides a definition of "distressed condominium property". Provides that a municipality may file a petition in the circuit court and that if the court finds that a property is a distressed condominium property, the court may appoint a receiver to manage the property. Provides also that if a court finds that the property is not viable as a condominium, the court may deem that the entire property is owned in common by the unit owners and may authorize the receiver to sell the entire property without the consent of the unit owners. Provides that if the receiver sells the property pursuant to court authorization, the sale proceeds shall be paid to unit owners according to their respective shares, after sale expenses, taxes, and liens have been paid. Provides that the receiver has the power and authority to secure and insure the premises, make repairs, and otherwise manage the premises.Senate Committee Amendment No. 1 Makes changes in the definition of "distressed condominium property". Corrects and clarifies cross-references within the provisions. Provides that, in the event of a property sale, the net proceeds of the sale, after payment of all receiver's costs, time, expenses, and fees as approved by the court (rather than as evidenced by the receiver's notes or certificates duly issued and assigned), shall be deposited into an escrow account. 2/7/2007SenateFiled with Secretary by Sen. Jacqueline Y. Collins 2/7/2007SenateFirst Reading 2/7/2007SenateReferred to Rules 2/21/2007SenateAssigned to Judiciary Civil Law 3/1/2007SenateHeld in Judiciary Civil Law 3/2/2007SenateAdded as Co-Sponsor Sen. Martin A. Sandoval 3/7/2007SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Jacqueline Y. Collins 3/7/2007SenateSenate Committee Amendment No. 1 Referred to Rules 3/8/2007SenateHeld in Judiciary Civil Law 3/13/2007SenateSenate Committee Amendment No. 1 Rules Refers to Judiciary Civil Law 3/13/2007SenateSenate Committee Amendment No. 1 Adopted 3/14/2007SenateDo Pass as Amended Judiciary Civil Law; 009-000-000 3/14/2007SenatePlaced on Calendar Order of 2nd Reading March 15, 2007 3/20/2007SenateSecond Reading 3/20/2007SenatePlaced on Calendar Order of 3rd Reading March 21, 2007 3/29/2007SenateAdded as Chief Co-Sponsor Sen. James T. Meeks 3/29/2007SenateThird Reading - Passed; 057-000-000 3/30/2007HouseArrived in House 3/30/2007HousePlaced on Calendar Order of First Reading 3/30/2007HouseChief House Sponsor Rep. Marlow H. Colvin 4/9/2007HouseFirst Reading 4/9/2007HouseReferred to Rules Committee 4/30/2007HouseAssigned to Judiciary I - Civil Law Committee 5/17/2007SenateAdded as Chief Co-Sponsor Sen. Kwame Raoul 5/18/2007SenateAdded as Chief Co-Sponsor Sen. Mattie Hunter 5/18/2007HouseCommittee Deadline Extended-Rule 9(b) May 25, 2007 5/25/2007HouseFinal Action Deadline Extended-9(b) May 31, 2007 5/31/2007HouseRule 19(a) / Re-referred to Rules Committee 1/13/2009SenateSession Sine Die