Illinois General Assembly - Bill Status for HB5189

Amends the Condominium Property Act. Provides that nothing in the Act or the declarations, bylaws, and rules of a condominium unit owner's association shall prohibit unit owners from leasing up to 20% of the units, if they otherwise comply with the Act. Provides that the powers and duties of the board of managers of a condominium association may not provide in the declaration, bylaws, rules, or other documents for a prohibition against unit owners leasing up to 20% of the total units, as long as there is compliance with the Act. Amends the General Not For Profit Corporation Act of 1986. Provides that a common interest community or homeowners' association, notwithstanding the declaration, covenants, bylaws, rules, regulations, or any other instrument, may not prohibit 20% of the total units from being used as rental property. Defines homeowners' association and common interest community. Effective immediately.

Further amends the Condominium Property Act. Provides that nothing in the Act or the documents of an association that currently permits leasing or that is incorporated after the effective date of this amendatory Act shall prohibit the unit owners from leasing up to 20% of the units, as long as the unit owners otherwise comply with the provisions of the Act. Provides that neither an association that permits leasing or an association that is incorporated after the effective date of this amendatory Act, nor any of their declarations, by-laws, rules, regulations, or instruments shall prohibit unit owners from leasing up to 20% of the total units, as long as the unit owners otherwise comply with the provisions of this Act. Amends the General Not For Profit Corporation Act of 1986. Provides that a common interest community or a homeowner's association that currently permits leasing, notwithstanding any provision in the entity's legal documents or any construction of those documents by the entity's board of directors, and a homeowner's association or common interest community incorporated under this Act, may not prohibit 20% of the total units from being used as leasing property.

Replaces everything after the enacting clause with substantially similar provisions. Amends the Condominium Property Act. Provides that a condominium association's bylaws shall provide that if an association that currently permits leasing amends its declaration, bylaws, or rules to prohibit leasing, nothing in the Act or the association's documents, shall prohibit a unit owner who is leasing his or her unit at the time of the prohibition from continuing to do so, until the unit owner voluntarily sells the unit and no penalties shall be assessed against the unit owner for leasing that unit. Provides same restrictions on a board of managers. Amends the General Not For Profit Corporation Act of 1986. Provides that if a common interest community or homeowners' association that currently permits leasing amends any of its instruments to prohibit leasing, nothing in the Act or its instruments, shall prohibit a unit owner who is leasing a unit at the time of the prohibition from continuing to do so, until such time that the unit owner voluntarily sells the unit; and no penalties shall be assessed against the unit owner for leasing the unit.

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