Illinois Senate Bill 3497 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on February 10 2010 - 25% progression, died in committee
Action: 2010-03-08 - Rule 3-9(a) / Re-referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Condominium Property Act and the General Not For Profit Act. Provides that: in the event of a proposed sale of a condominium unit, or a proposed sale of a unit in a common interest community or homeowners' association, by a unit owner other than the developer to a 501(c)(3) organization that intends to lease the unit for the purpose of providing affordable housing, the unit owner must disclose the proposed sale to the board of managers, or to the board of directors in the instance of a common interest community or homeowners' association, and request issuance of a certificate approving the sale to the 501(c)(3) organization for that purpose for as long as the 501(c)(3) organization owns the property; if the board approves the sale and issues a certificate approving the sale, the unit owner must record the certificate with the recorder; and a 501(c)(3) organization may not lease a unit for the purpose of providing affordable housing unless those requirements have been met.

CONDOS-BYLAW-RENT PROHIBITIONS

Sen. Dan Cronin [R]

Date	Chamber	Action
2010-03-08		Rule 3-9(a) / Re-referred to Assignments
2010-03-03		Postponed - Judiciary
2010-02-24		Assigned to Judiciary
2010-02-10		Referred to Assignments
2010-02-10		First Reading
2010-02-10		Filed with Secretary by Sen. Dan Cronin

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3497&GAID=10&DocTypeID=SB&SessionID=76&GA=96
Text	https://www.ilga.gov/legislation/96/SB/09600SB3497.htm