CONDO-COM INT-RESERVE STUDY
- Introduced Feb 5, 2025
- In committee Feb 5, 2025
- Passed the Senate Next
- Passed the House
- To the governor
- Became law
What it does
The legislature's own summary of the bill, or its official long title.
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…
Read the full title (118 words)
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.
Every action
4 steps, oldest first, as the legislature records them.
- SenateFiled with Secretary by Sen. Bill Cunningham
- SenateFirst Reading
- CommitteeReferred to Assignments · Senate Assignments
- SenateAdded as Co-Sponsor Sen. Donald P. DeWitte
Roll calls
No recorded votes on this bill yet.
Sponsors
The member who introduced it, joined by 1 cosponsor: 1 Republican.
-
Bill CunninghamD Primary sponsor · District 18
All 1 cosponsor
From Illinois's official records (www.ilga.gov), checked Nov 13, 2026. Text links go to the official versions; LegiList does not copy bill text.