NOVAK-FANTIN-HOLBROOK. (O'MALLEY) 765 ILCS 77/5 765 ILCS 77/25 765 ILCS 77/30 765 ILCS 77/35 765 ILCS 77/40 765 ILCS 77/55 Amends the Residential Real Property Disclosure Act. Provides that the Act applies only to a "seller" who is a person or entity with a legal or equitable interest in the residential real property and either has occupied or has had management responsibility for the property. Provides that the seller shall supplement the disclosure document if it contains known errors or is subsequently rendered inaccurate before closing. Adds to the disclosure report form a note that the disclosures reflect the current condition of the premises and do not include previously corrected problems. Provides that if a material defect is disclosed in a supplemental document, then the prospective buyer shall not have the right to terminate the contract unless the seller had actual knowledge of the defect before the initial disclosure. Provides that if the seller fails or refuses to deliver the disclosure document before the conveyance of the residential property, then the buyer shall have the right to terminate the contract. HOUSE AMENDMENT NO. 1. Replaces the amendatory provisions defining "seller" to provide that the Residential Real Property Disclosure Act applies to all sellers who have a legal or equitable interest in the residential real property, but does not apply to a person who has neither occupied nor managed the property. Deletes the amendatory provision requiring the seller to supplement the disclosure document if the document is rendered inaccurate by any occurrence before closing. Provides that the disclosure document does not include problems the seller reasonably believes have been corrected. FISCAL NOTE, H-AM 1 (Office of Banks & Real Estate) There would be no fiscal or operational impact on this Office. STATE MANDATES FISCAL NOTE, H-AM 1 HB358, as amended by H-am 1, fails to create a State mandate. SENATE AMENDMENT NO. 1. Deletes the amendatory provisions defining "seller" and adds that the Act applies to every seller. Makes other changes. 97-01-29 H FIRST READING 97-01-29 H REFERRED TO HOUSE RULES COMMITTEE RULES 97-02-05 H ASSIGNED TO COMMITTEE ENVRMNT ENRGY 97-02-06 H ADDED AS A JOINT SPONSOR FANTIN 97-02-20 H RE-ASSIGNED TO COMMITTEE JUD-CIVIL LAW 97-03-19 H FISCAL NOTE REQUESTED AS AMENDED/CROSS 97-03-19 H STATE MANDATES FISCAL NOTE REQUESTED AS AMENDED/CROSS 97-03-19 H COMMITTEE JUD-CIVIL LAW 97-03-20 H AMENDMENT NO. 01-JUD-CIVIL LAW H 97-03-20 H ADOPTED 97-03-20 H DO PASS AMENDED/SHORT DEBATE 010-000-000 HJUA 97-03-20 H PLACED CALENDAR 2ND READING-SHORT DEBATE 97-03-26 H FISCAL NOTE FILED AS AMENDED 97-03-26 H CALENDAR ORDER 2ND READING-SHORT DEBATE 97-04-07 H STATE MANDATES FISCAL NOTE FILED AS AMENDED 97-04-07 H CALENDAR ORDER 2ND READING-SHORT DEBATE 97-04-08 H SECOND READING-SHORT DEBATE 97-04-08 H PLCD CAL ORDER 3RD READING-SHORT DEBATE 97-04-09 H THIRD READING/SHORT DEBATE/PASSED 117-000-000 97-04-10 S ARRIVE IN SENATE 97-04-10 S PLACED CALENDAR ORDER OF FIRST READING 97-04-10 S CHIEF SPONSOR O'MALLEY 97-04-10 S FIRST READING 97-04-10 S REFERRED TO SENATE RULES COMMITTEE RULES 97-04-17 S ASSIGNED TO COMMITTEE JUDICIARY 97-04-24 S POSTPONED 97-04-30 S AMENDMENT NO. 01-JUDICIARY S 97-04-30 S ADOPTED 97-04-30 S DO PASS AS AMENDED 009-000-000 SJUD 97-04-30 S PLACED ON CALENDAR ORDER OF 2ND READING 97-05-01 97-05-01 S SECOND READING 97-05-01 S PLACED ON CALENDAR ORDER OF 3RD READING 97-05-06 97-05-08 S THIRD READING - PASSED 056-000-000 97-05-08 H ARRIVE IN HOUSE 97-05-08 H PLACED ON CALENDAR ORDER OF CONCURRENCE 01 97-05-16 H ADDED AS A CO-SPONSOR HOLBROOK 97-05-17 H MOTION FILED CONCUR 01/NOVAK 97-05-17 H REFERRED TO RULES COMMITTEE/RULE 75(A) 01 97-05-17 H PLACED ON CALENDAR ORDER OF CONCURRENCE 01 97-05-19 H MOTION REFERRED TO 01/HJUA 97-05-19 H PLACED ON CALENDAR ORDER OF CONCURRENCE 01 97-05-20 H BE APPROVED FOR CONSIDERATION 01/010-000-000 97-05-20 H HSE CONCURS IN SEN AMENDMENTS (NO.) 01/118-000-000 97-05-20 H PASSED BOTH HOUSES 97-06-18 H SENT TO THE GOVERNOR 97-08-15 H GOVERNOR APPROVED 97-08-15 H EFFECTIVE DATE 98-01-01 97-08-15 H PUBLIC ACT.............................. 90-0383 END OF INQUIRY Full Text Bill Summary