Bill Text: IL HB4154 | 2013-2014 | 98th General Assembly | Amended
Bill Title: Amends the Conveyances Act. Makes a technical change in the Section relating to the effect of the transfer of land.
Sponsorship: Partisan Bill (Democrat 1)
Status: (Failed) 2014-12-03 - Session Sine Die [HB4154 Detail]
Download: Illinois-2013-HB4154-Amended.html
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| 1 | AMENDMENT TO HOUSE BILL 4154
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| 2 | AMENDMENT NO. ______. Amend House Bill 4154 by replacing | ||||||
| 3 | everything after the enacting clause with the following:
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| 4 | "Section 5. The Common Interest Community Association Act | ||||||
| 5 | is amended by adding Section 1-47 as follows:
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| 6 | (765 ILCS 160/1-47 new) | ||||||
| 7 | Sec. 1-47. Alternative payment schedule for certain | ||||||
| 8 | assessments. | ||||||
| 9 | (a) A common interest community association composed of | ||||||
| 10 | more
than 14 units shall adopt reasonable guidelines to | ||||||
| 11 | establish an
alternative payment schedule by which an owner may | ||||||
| 12 | make partial
payments to the common interest community | ||||||
| 13 | association for delinquent regular
or special assessments or | ||||||
| 14 | any other amount owed to the association
without accruing | ||||||
| 15 | additional monetary penalties. For purposes of
this Section, | ||||||
| 16 | monetary penalties do not include reasonable costs
associated | ||||||
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| 1 | with administering the payment plan or interest. | ||||||
| 2 | (b) The minimum term for a payment plan offered by a
common | ||||||
| 3 | interest community association is 3 months. | ||||||
| 4 | (c) A common interest community association may not allow a | ||||||
| 5 | payment
plan for any amount that extends more than 18 months | ||||||
| 6 | from the date
of the owner's request for a payment plan. The | ||||||
| 7 | association is not
required
to enter into a payment plan with | ||||||
| 8 | an owner who failed to
honor the terms of a previous payment | ||||||
| 9 | plan during the 2 years
following the owner's default under the | ||||||
| 10 | previous payment plan. | ||||||
| 11 | (d) A common interest community association shall file the
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| 12 | association's guidelines under this Section in the office of | ||||||
| 13 | the recorder of each county in which the association property | ||||||
| 14 | is located. | ||||||
| 15 | (e) A common interest community association's failure to | ||||||
| 16 | file, as
required by this Section, the association's guidelines | ||||||
| 17 | in the real
property records of each county in which the | ||||||
| 18 | association property is located
does not prohibit a property | ||||||
| 19 | owner from receiving an alternative
payment schedule by which | ||||||
| 20 | the owner may make partial payments to the
common interest | ||||||
| 21 | community association for delinquent regular or special
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| 22 | assessments or any other amount owed to the association without
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| 23 | accruing additional monetary penalties, as defined by | ||||||
| 24 | subsection
(a) of this Section.".
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