Illinois General Assembly - Bill Status for HB2042

Creates the Condominium Ombudsperson Act and amends the State Finance Act. Creates the Office of the Condominium Ombudsperson in the Department of Financial and Professional Regulation under the supervision and control of the Director of Banks and Real Estate. Provides that the Ombudsperson shall offer training and educational materials and courses to condominium unit owners, condominium associations, and boards of managers in subjects relevant to the operation and management of condominium property and the rights and duties of a unit owner or unit owners' association. Requires the Ombudsperson to maintain a statewide toll-free telephone number, and a website with certain specified information, to provide information or assistance on matters relating to condominium property. Requires the Ombudsperson to report annually to the General Assembly. Provides that every condominium unit owners' association shall pay an annual fee to the Ombudsperson to cover the administration of the Act. Creates the Condominium Ombudsperson Fund as a special fund in the State treasury, to consist of fees received by the Ombudsperson, to be used exclusively for expenditures necessary for the proper administration of the Act. Repeals the Act on July 1, 2010. Effective July 1, 2007.

×