Bill Status of HB 5783   100th General Assembly


Short Description:  CONDO ACT-ACCOUNTING PRACTICES

House Sponsors
Rep. Natalie A. Manley

Last Action  View All Actions

DateChamber Action
  1/8/2019HouseSession Sine Die

Statutes Amended In Order of Appearance
765 ILCS 605/18.10

Synopsis As Introduced
Amends the Condominium Property Act. Provides that an association subject to the Act that consists of 200 (instead of 100) or more units shall use generally accepted accounting principles in fulfilling any accounting obligations under the Act. Provides that by no later than January 1, 2019, an association that consists of not less than 176 and not more than 199 units shall use generally accepted accounting principles. Provides that by no later than January 1, 2020, an association that consists of not less than 136 and not more than 175 units shall use generally accepted accounting principles. Provides that by no later than January 1, 2021, an association that consists of not less than 101 and not more than 135 units shall use generally accepted accounting principles. Effective immediately.

Actions 
DateChamber Action
  2/16/2018HouseFiled with the Clerk by Rep. Natalie A. Manley
  2/16/2018HouseFirst Reading
  2/16/2018HouseReferred to Rules Committee
  3/21/2018HouseAssigned to Judiciary - Civil Committee
  3/23/2018HouseTo Civil Procedure Subcommittee
  4/13/2018HouseRule 19(a) / Re-referred to Rules Committee
  1/8/2019HouseSession Sine Die

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