Bill Text: IL SB0176 | 2015-2016 | 99th General Assembly | Introduced

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Bill Title: Amends the Commercial Real Estate Broker Lien Act. Makes a technical change in a Section concerning definitions.

Sponsorship: Partisan Bill (Democrat 1)

Status: (Introduced - Dead) 2015-04-21 - Re-referred to Assignments [SB0176 Detail]

Download: Illinois-2015-SB0176-Introduced.html

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99TH GENERAL ASSEMBLY State of Illinois 2015 and 2016 SB0176 Introduced 1/28/2015, by Sen. John J. Cullerton SYNOPSIS AS INTRODUCED:
770 ILCS 15/5 from Ch. 82, par. 655
Amends the Commercial Real Estate Broker Lien Act. Makes a technical change in a Section concerning definitions.
LRB099 03401 HEP 23409 b
A BILL FOR
SB0176 LRB099 03401 HEP 23409 b
AN ACT concerning civil law.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Commercial Real Estate Broker Lien Act is
amended by changing Section 5 as follows:
(770 ILCS 15/5) (from Ch. 82, par. 655)
Sec. 5. Definitions. As used in this Act:
"Commercial real estate" means any real estate located in
Illinois other than (i) real estate containing one to 6
residential units, (ii) real estate on which no buildings or
structures are located, or (iii) real estate classified as
farmland for assessment purposes under the the Property Tax
Code. Commercial real estate shall not include single family
residential units such as condominiums, townhouses, or homes in
a subdivision when sold, leased, or otherwise conveyed on a
unit by unit basis even though these units may be part of a
larger building or parcel of real estate containing more than 6
residential units.
"Real estate", "broker", and "employee" are defined as in
the Real Estate License Act of 2000.
"Interest in commercial real estate" shall include,
without limitation, any interest in a land trust as defined in
Section 15-1205 of the Code of Civil Procedure.

SB0176 - 2 - LRB099 03401 HEP 23409 b
(Source: P.A. 91-245, eff. 12-31-99.)