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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.