Rep. Stephanie A. Kifowit
Filed: 3/24/2014
 
 

 

 

 
09800HB4154ham001LRB098 15707 HEP 57135 a



1
AMENDMENT TO HOUSE BILL 4154 




2    AMENDMENT NO. ______. Amend House Bill 4154 by replacing 
3everything after the enacting clause with the following:

 
4    "Section 5. The Common Interest Community Association  Act 
5is amended  by adding Section 1-47 as follows:
 
6    (765 ILCS 160/1-47 new)
7    Sec. 1-47. Alternative payment schedule for certain 
8assessments.
9    (a)  A common interest community association composed of 
10more
than 14 units shall adopt reasonable guidelines to 
11establish an
alternative payment schedule by which an owner may 
12make partial
payments to the common interest community 
13association for delinquent regular
or special assessments or 
14any other amount owed to the association
without accruing 
15additional monetary penalties.  For purposes of
this Section, 
16monetary penalties do not include reasonable costs
associated 
 
 
09800HB4154ham001- 2 -LRB098 15707 HEP 57135 a

1with administering the payment plan or interest.
2    (b)  The minimum term for a payment plan offered by a
common 
3interest community association is 3 months.
4    (c)  A common interest community association may not allow a 
5payment
plan for any amount that extends more than 18 months 
6from the date
of the owner's request for a payment plan. The 
7association is not
required
to enter into a payment plan with 
8an owner who failed to
honor the terms of a previous payment 
9plan during the 2 years
following the owner's default under the 
10previous payment plan.
11    (d)  A common interest community association shall file the

12association's guidelines under this Section in the office of 
13the recorder of each county in which the association property 
14is located.
15    (e)  A common interest community association's failure to 
16file, as
required by this Section, the association's guidelines 
17in the real
property records of each county in which the 
18association property is located
does not prohibit a property 
19owner from receiving an alternative
payment schedule by which 
20the owner may make partial payments to the
common interest 
21community association for delinquent regular or special

22assessments or any other amount owed to the association without

23accruing additional monetary penalties, as defined by 
24subsection
(a) of this Section.".