Bill Title: Amends the Condominium Property Act. Provides that the purchaser of a condominium unit at a judicial foreclosure sale, other than a mortgagee, or a purchaser of a condominium unit from a mortgagee who acquired title through a judicial foreclosure, a consent foreclosure, a common law strict foreclosure, or the delivery of a deed in lieu of foreclosure (instead of the purchaser of a condominium unit at a judicial foreclosure sale, other than a mortgagee, who takes possession of a condominium unit pursuant to a court order or a purchaser who acquires title from a mortgagee) shall have the duty to pay to the association an amount not to exceed the total of the regular monthly assessments for the condominium unit for the 9-month period immediately preceding the relevant event. Provides that the amount due may include any attorney's fees and court costs, but may not exceed 9 months of regular assessments due over the same 9-month period. Deletes language providing that the purchaser shall have the duty to pay the proportionate share, if any, of the common expenses for the unit which would have become due in the absence of any assessment acceleration for the 6 months immediately preceding the institution of an action to enforce the collection of assessments, and which remain unpaid. Deletes language providing that if the outstanding assessments are paid at any time during an action to enforce the collection of assessments, the purchaser shall have no obligation to pay any assessments which accrued before he or she acquired title. Provides that the notice of a foreclosure sale of a condominium unit shall state that a purchaser, other than a mortgagee, shall pay to the association any unpaid monthly assessments for the 9-month period preceding the sale, including attorney's fees and court costs. Provides that each notice of a judicial sale a condominium unit and each disclosure statement issued to a prospective purchaser shall list the required fees. Provides that in certain situations, the Board of Managers (instead of the owner) of a condominium unit must make specified information available within 14 days of the request (instead of "upon demand") and may do so either electronically or in writing. Makes corresponding changes. Effective immediately.

Spectrum: Slight Partisan Bill (Democrat 11-4)

Status: (Vetoed) 2014-11-24 - Bill Dead - Amendatory Veto No Positive Action Taken [SB2664 Detail]

Text: Latest bill text (Veto Message) [HTML]

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Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Senator Michael Hastings [D]	Primary	Sponsored Bills	SD-019	FollowTheMoney	Ballotpedia	VoteSmart
Senator Pamela Althoff [R]	Cosponsor	Sponsored Bills	SD-032	FollowTheMoney	Ballotpedia	VoteSmart
Senator Thomas Cullerton [D]	Cosponsor	Sponsored Bills	SD-023	FollowTheMoney	Ballotpedia	VoteSmart
Senator Patricia Van Pelt [D]	Cosponsor	Sponsored Bills	SD-005	FollowTheMoney	Ballotpedia	VoteSmart
Representative Sam Yingling [D]	Primary	Sponsored Bills	HD-062	FollowTheMoney	Ballotpedia	VoteSmart
Representative John Cabello [R]	Cosponsor	Sponsored Bills	HD-090	FollowTheMoney	Ballotpedia	VoteSmart
Representative Emanuel Welch [D]	Cosponsor	Sponsored Bills	HD-007	FollowTheMoney	Ballotpedia	VoteSmart
Representative Andre Thapedi [D]	Cosponsor	Sponsored Bills	HD-032	FollowTheMoney	Ballotpedia	VoteSmart
Representative Michael Zalewski [D]	Cosponsor	Sponsored Bills	HD-023	FollowTheMoney	Ballotpedia	VoteSmart
Representative Silvana Tabares [D]	Cosponsor	Sponsored Bills	HD-021	FollowTheMoney	Ballotpedia	VoteSmart
Representative Emily McAsey [D]	Cosponsor	Sponsored Bills	HD-085	FollowTheMoney	Ballotpedia	VoteSmart
Representative David McSweeney [R]	Cosponsor	Sponsored Bills	HD-052	FollowTheMoney	Ballotpedia	VoteSmart
Representative John D'Amico [D]	Cosponsor	Sponsored Bills	HD-015	FollowTheMoney	Ballotpedia	VoteSmart
Representative Edward Acevedo [D]	Cosponsor	Sponsored Bills	HD-002	FollowTheMoney	Ballotpedia	VoteSmart
Representative Rich Brauer [R]	Cosponsor	Sponsored Bills	HD-087	FollowTheMoney	Ballotpedia	VoteSmart

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