HJ0060 104TH GENERAL ASSEMBLY

HJ0060 LRB104 21414 MST 36422 r

HOUSE JOINT RESOLUTION

WHEREAS, More than four million residents of Illinois live in condominiums or common interest community associations; and

WHEREAS, These associations are responsible for managing residential properties, financial assets, and critical infrastructure systems that directly affect the safety and financial well-being of homeowners; and

WHEREAS, Association governance structures often rely on volunteer boards and professional management, creating potential gaps in oversight, transparency, and accountability; and

WHEREAS, Unit owners may face challenges in accessing timely and accurate information related to finances, reserves, building conditions, and major repair obligations; and

WHEREAS, Current law does not provide comprehensive mechanisms for enforcement, dispute resolution, or standardized governance practices; and

WHEREAS, Deferred maintenance, underfunded reserves, inadequate financial oversight, and lack of transparency may expose homeowners to significant financial risk and potential safety hazards; therefore, be it

RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE ONE HUNDRED FOURTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, THE SENATE CONCURRING HEREIN, that the Illinois Condominium Governance and Transparency Task Force is created to study the transparency, financial integrity, and safe living conditions of residents of condominiums and common interest community associations; and be it further

RESOLVED, That the Task Force is charged with specifically examining and making recommendations regarding the following:

(1) Board governance and training;

(2) Financial transparency and reporting;

(3) Independent financial audits and internal controls;

(4) Reserve funding and capital planning;

(5) Building safety oversight;

(6) Infrastructure risk and long-term maintenance;

(7) Transparency in major capital projects;

(8) Owner access to records;

(9) Property management roles and conflicts of interest;

(10) Dispute resolution options;

(11) Protections for owners raising concerns; and

(12) Best practices from other states; and be it further

RESOLVED, That the Task Force shall consist of the following members who shall serve without compensation:

(1) One member of the House of Representatives appointed by the Speaker of the House, who shall serve as co-chair;

(2) One member of the House of Representatives appointed by the House Minority Leader, who shall serve as co-chair;

(3) One member of the Senate appointed by the Senate President;

(4) One member of the Senate appointed by the Senate Minority Leader;

(5) 3 condominium unit owners appointed by the Governor;

(6) 1 common interest community unit owner appointed by the Speaker of the House;

(7) 1 condominium or association manager appointed by the House Minority Leader;

(8) 1 licensed community association manager appointed by the Senate President;

(9) 1 attorney with experience in condominium or common interest community law appointed by the Senate Minority Leader;

(10) 1 building engineer, structural expert, or reserve study professional appointed by the Speaker of the House;

(11) 1 financial expert with experience in auditing or accounting appointed by House Minority Leader;

(12) 1 individual with experience in construction or capital project management appointed by the Senate President;

(13) 1 consumer protection or housing advocate appointed by the Senate Minority Leader;

(14) the Secretary of the Illinois Department of Financial and Professional Regulation or his or her designee; and

(15) the Illinois Condominium & Common Interest Community Ombudsperson or his or her designee; and be it further

RESOLVED, That initial appointments to the Task Force shall be made no more than three months after adoption of this resolution, and if a vacancy occurs in the Task Force membership it shall be filled in the same manner as the original appointment; and be it further

RESOLVED, That the Illinois Department Financial and Professional Regulation shall provide administrative support for the Task Force in consultation with the Illinois Condominium & Common Interest Community Ombudsperson; and be it further

RESOLVED, That the Task Force shall hold its first meeting at the call of the co-chairs and meet at least once per month until it completes its work and may hold additional meetings as necessary to carry out its duties; and be it further

RESOLVED, That the Task Force shall submit a written report of its findings and recommendations to the Governor and the General Assembly no later than January 7, 2027, and upon the filing of this report, the Task Force is dissolved; and be it further

RESOLVED, That suitable copies of this resolution be delivered to the Speaker of the House, the House Minority Leader, the Senate President, the Senate Minority Leader, the Governor, the Secretary of the Illinois Department of Financial and Professional Regulation, and the Illinois Condominium & Common Interest Community Ombudsperson.