Illinois General Assembly - Full Text of HB3311
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Full Text of HB3311  102nd General Assembly

HB3311 102ND GENERAL ASSEMBLY

  
  

 


 
102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
HB3311

 

Introduced 2/19/2021, by Rep. David A. Welter

 

SYNOPSIS AS INTRODUCED:
 
765 ILCS 160/1-45

    Amends the Common Interest Community Association Act. Deletes language governing procedures for the ratification of a budget if the adopted budget or any separate assessment adopted by the board would result in the sum of all regular and separate assessments payable in the current fiscal year exceeding 115% of the sum of all regular and separate assessments payable during the preceding fiscal year. Provides instead that no adopted budget or any any separate assessment adopted by the board shall result in the sum of all regular and separate assessments payable in the current fiscal year exceeding 105% of the sum of all regular and separate assessments payable during the preceding fiscal year.


LRB102 13758 LNS 19108 b

 

 

A BILL FOR

 

HB3311LRB102 13758 LNS 19108 b

1    AN ACT concerning civil law.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Common Interest Community Association Act
5is amended by changing Section 1-45 as follows:
 
6    (765 ILCS 160/1-45)
7    Sec. 1-45. Finances.
8    (a) Each member shall receive through a prescribed
9delivery method, at least 30 days but not more than 60 days
10prior to the adoption thereof by the board, a copy of the
11proposed annual budget together with an indication of which
12portions are intended for reserves, capital expenditures or
13repairs or payment of real estate taxes.
14    (b) The board shall provide all members with a reasonably
15detailed summary of the receipts, common expenses, and
16reserves for the preceding budget year. The board shall (i)
17make available for review to all members an itemized
18accounting of the common expenses for the preceding year
19actually incurred or paid, together with an indication of
20which portions were for reserves, capital expenditures or
21repairs or payment of real estate taxes and with a tabulation
22of the amounts collected pursuant to the budget or assessment,
23and showing the net excess or deficit of income over

 

 

HB3311- 2 -LRB102 13758 LNS 19108 b

1expenditures plus reserves or (ii) provide a consolidated
2annual independent audit report of the financial status of all
3fund accounts within the association.
4    (c) No If an adopted budget or any separate assessment
5adopted by the board shall would result in the sum of all
6regular and separate assessments payable in the current fiscal
7year exceeding 105% 115% of the sum of all regular and separate
8assessments payable during the preceding fiscal year, the
9common interest community association, upon written petition
10by members with 20% of the votes of the association delivered
11to the board within 14 days of the board action, shall call a
12meeting of the members within 30 days of the date of delivery
13of the petition to consider the budget or separate assessment;
14unless a majority of the total votes of the members are cast at
15the meeting to reject the budget or separate assessment, it
16shall be deemed ratified.
17    (d) If total common expenses exceed the total amount of
18the approved and adopted budget, the common interest community
19association shall disclose this variance to all its members
20and specifically identify the subsequent assessments needed to
21offset this variance in future budgets.
22    (e) Separate assessments for expenditures relating to
23emergencies or mandated by law may be adopted by the board
24without being subject to member approval or the provisions of
25subsection (c) or (f) of this Section. As used herein,
26"emergency" means a danger to or a compromise of the

 

 

HB3311- 3 -LRB102 13758 LNS 19108 b

1structural integrity of the common areas or any of the common
2facilities of the common interest community. "Emergency" also
3includes a danger to the life, health or safety of the
4membership.
5    (f) Assessments for additions and alterations to the
6common areas or to association-owned property not included in
7the adopted annual budget, shall be separately assessed and
8are subject to approval of a simple majority of the total
9members at a meeting called for that purpose.
10    (g) The board may adopt separate assessments payable over
11more than one fiscal year. With respect to multi-year
12assessments not governed by subsections (e) and (f) of this
13Section, the entire amount of the multi-year assessment shall
14be deemed considered and authorized in the first fiscal year
15in which the assessment is approved.
16    (h) The board of a common interest community association
17shall have the authority to establish and maintain a system of
18master metering of public utility services to collect payments
19in conjunction therewith, subject to the requirements of the
20Tenant Utility Payment Disclosure Act.
21    (i) An association subject to this Act that consists of
22100 or more units shall use generally accepted accounting
23principles in fulfilling any accounting obligations under this
24Act.
25(Source: P.A. 100-292, eff. 1-1-18.)