Illinois House Bill 5783 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Democrat 1-0)
Status: Failed on January 8 2019 - 100% progression
Action: 2019-01-08 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

Amends the Condominium Property Act. Provides that an association subject to the Act that consists of 200 (instead of 100) or more units shall use generally accepted accounting principles in fulfilling any accounting obligations under the Act. Provides that by no later than January 1, 2019, an association that consists of not less than 176 and not more than 199 units shall use generally accepted accounting principles. Provides that by no later than January 1, 2020, an association that consists of not less than 136 and not more than 175 units shall use generally accepted accounting principles. Provides that by no later than January 1, 2021, an association that consists of not less than 101 and not more than 135 units shall use generally accepted accounting principles. Effective immediately.

CONDO ACT-ACCOUNTING PRACTICES

Rep. Natalie Manley [D]

Date	Chamber	Action
2019-01-08	House	Session Sine Die
2018-04-13	House	Rule 19(a) / Re-referred to Rules Committee
2018-03-23	House	To Civil Procedure Subcommittee
2018-03-21	House	Assigned to Judiciary - Civil Committee
2018-02-16	House	Referred to Rules Committee
2018-02-16	House	First Reading
2018-02-16	House	Filed with the Clerk by Rep. Natalie A. Manley

Chapter	Article	Section	Citation Type	Statute Text
765	605	18.10	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=5783&GAID=14&DocTypeID=HB&SessionID=91&GA=100
Text	https://www.ilga.gov/legislation/100/HB/10000HB5783.htm