Date	Chamber	Action
2/5/2025	Senate	Referred to Assignments

Statutes Amended In Order of Appearance

765 ILCS 160/1-32 new

765 ILCS 160/1-35

765 ILCS 605/18.5

from Ch. 30, par. 318.5

765 ILCS 605/22.1

from Ch. 30, par. 322.1

Synopsis As Introduced
Amends the Common Interest Community Association Act. Requires a common interest association to conduct and update a reserve study every 5 years. "Reserve study" means an analysis of the reserves required for future major maintenance, repairs, and replacements of the common elements. Grants a 5-year window for an association to conduct a reserve study or update a current study. Requires a reserve study to be made available to any prospective purchaser of a unit upon request for a resale of any unit in the community. Exempts an association with 15 or fewer units but still requires the board comply with the budgeting and reserve requirements elsewhere in the Act. Amends the Condominium Property Act to make similar changes.

Actions 

Date	Chamber	Action
2/5/2025	Senate	Filed with Secretary by Sen. Bill Cunningham
2/5/2025	Senate	First Reading
2/5/2025	Senate	Referred to Assignments
2/20/2025	Senate	Added as Co-Sponsor Sen. Donald P. DeWitte

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