Comments: IL HB0274 | 2021-2022 | 102nd General Assembly

Bill Title: Amends the Common Interest Community Association Act. Defines a "retirement community" as a community intended and operated: (i) for occupancy by persons 55 years of age or older; and (ii) with at least 80% of the occupied units occupied by at least one person 55 years of age or older. Provides that the real estate taxes on a unit in a retirement community shall be assessed on the unit and paid by the unit owner. Provides that only real estate taxes on a common area may be included in an assessment. Provides that a common interest community shall provide a detailed breakdown of all costs in an association assessment, including a breakdown of real estate tax information. Effective immediately.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2021-02-23 - Assigned to Revenue & Finance Committee [HB0274 Detail]

Text: Latest bill text (Introduced) [HTML]

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