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91_HB2104enr
HB2104 Enrolled LRB9103763PTpk
1 AN ACT concerning property.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Conveyances Act is amended by adding
5 Section 38c as follows:
6 (765 ILCS 5/38c new)
7 Sec. 38c. Townhome declarations.
8 (a) The declarations of a noncondominium townhome
9 instrument concerning common interest property must provide
10 that maintenance assessments for a townhome must be
11 consistent with the following factors, when considered
12 together: (i) the square footage of the townhome in relation
13 to the square footage of other townhomes in the common
14 interest property community, (ii) the equalized assessed
15 value of the townhome in relation to the equalized assessed
16 value of the other townhomes in the common interest property
17 community, and (iii) the special assessments of the townhome
18 for insurance premiums in relation to those special
19 assessments for other townhomes in the common interest
20 property community.
21 (b) For the purposes of this Section:
22 "Common interest property" means real estate with respect
23 to which any person by virtue of his or her ownership of a
24 partial interest or unit in the property is obligated to pay
25 for maintenance, improvement, insurance premiums, or real
26 estate taxes of other real estate described in a declaration
27 that is administered by an association.
28 "Noncondominium townhome" means a common interest
29 property community that is not established under the
30 Condominium Property Act.
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