Illinois General Assembly - Bill Status for HB2462
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 Bill Status of HB2462  94th General Assembly

Short Description:  RESIDENTIAL REAL PROPERTY HOME

House Sponsors
Rep. Susana A Mendoza - Daniel J. Burke - William B. Black - Barbara Flynn Currie - Sidney H. Mathias, Jack D. Franks, Linda Chapa LaVia, Joseph M. Lyons, Edward J. Acevedo, Maria Antonia Berrios and Jack McGuire

Senate Sponsors
(Sen. Rickey R. Hendon - Edward D. Maloney - Mattie Hunter)

Last Action
DateChamber Action
  8/8/2005HousePublic Act . . . . . . . . . 94-0489

Statutes Amended In Order of Appearance
New Act


Synopsis As Introduced
Creates the Residential Real Property Homestead Exemptions Disclosure Act. Requires the sellers of residential real property to disclose to the buyers of the property the amount of each homestead exemption that applies to the seller's ownership of the property. Sets forth the requirements and procedures for making the disclosure. Provides that a buyer may void the sales contract if the disclosure is defective. Provides that no action for a violation of the Act may be commenced more than one year after the date of the buyers occupancy or the date that the instrument of conveyance is recorded, whichever is less. Requires a copy of this Act must be included with each disclosure. Contains other provisions. Effective immediately.

House Committee Amendment No. 1
Deletes reference to:
New Act
Adds reference to:
35 ILCS 200/31-25

Deletes everything after the enacting clause. Amends the Property Tax Code. Provides that transfer declarations must include information concerning any homestead exemptions for the property. Effective immediately.

Senate Floor Amendment No. 1
Provides that the transfer declaration must include the homestead exemption information as that information is reflected on the most recent annual tax bill.

Actions 
DateChamber Action
  2/17/2005HouseFiled with the Clerk by Rep. Susana A Mendoza
  2/17/2005HouseFirst Reading
  2/17/2005HouseReferred to Rules Committee
  2/18/2005HouseAssigned to Revenue Committee
  3/10/2005HouseHouse Committee Amendment No. 1 Filed with Clerk by Revenue Committee
  3/10/2005HouseHouse Committee Amendment No. 1 Adopted in Revenue Committee; by Voice Vote; Sub-committee
  3/10/2005HouseDo Pass as Amended / Short Debate Revenue Committee; 012-000-000
  3/10/2005HousePlaced on Calendar 2nd Reading - Short Debate
  3/15/2005HouseSecond Reading - Short Debate
  3/15/2005HousePlaced on Calendar Order of 3rd Reading - Short Debate
  3/17/2005HouseAdded Chief Co-Sponsor Rep. Daniel J. Burke
  3/17/2005HouseAdded Chief Co-Sponsor Rep. William B. Black
  4/5/2005HouseAdded Chief Co-Sponsor Rep. Barbara Flynn Currie
  4/5/2005HouseAdded Chief Co-Sponsor Rep. Sidney H. Mathias
  4/5/2005HouseAdded Co-Sponsor Rep. Jack D. Franks
  4/5/2005HouseAdded Co-Sponsor Rep. Linda Chapa LaVia
  4/5/2005HouseAdded Co-Sponsor Rep. Joseph M. Lyons
  4/5/2005HouseAdded Co-Sponsor Rep. Edward J. Acevedo
  4/5/2005HouseAdded Co-Sponsor Rep. Maria Antonia Berrios
  4/5/2005HouseThird Reading - Short Debate - Passed 110-001-000
  4/6/2005SenateArrive in Senate
  4/6/2005SenatePlaced on Calendar Order of First Reading April 7, 2005
  4/7/2005HouseAdded Co-Sponsor Rep. Jack McGuire
  4/12/2005SenateChief Senate Sponsor Sen. Rickey R. Hendon
  4/13/2005SenateAdded as Alternate Chief Co-Sponsor Sen. Edward D. Maloney
  4/13/2005SenateFirst Reading
  4/13/2005SenateReferred to Rules
  4/21/2005SenateAssigned to Housing & Community Affairs
  5/4/2005SenateDo Pass Housing & Community Affairs; 009-000-000
  5/4/2005SenatePlaced on Calendar Order of 2nd Reading May 5, 2005
  5/4/2005SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. Rickey R. Hendon
  5/4/2005SenateSenate Floor Amendment No. 1 Referred to Rules
  5/9/2005SenateSenate Floor Amendment No. 2 Filed with Secretary by Sen. Iris Y. Martinez
  5/9/2005SenateSenate Floor Amendment No. 2 Referred to Rules
  5/10/2005SenateSecond Reading
  5/10/2005SenatePlaced on Calendar Order of 3rd Reading May 11, 2005
  5/16/2005SenateSenate Floor Amendment No. 1 Rules Refers to Housing & Community Affairs
  5/16/2005SenateSenate Floor Amendment No. 2 Rules Refers to Housing & Community Affairs
  5/17/2005SenateSenate Floor Amendment No. 1 Recommend Do Adopt Housing & Community Affairs; 009-000-000
  5/17/2005SenateSenate Floor Amendment No. 2 To Subcommittee
  5/19/2005SenateRecalled to Second Reading
  5/19/2005SenateSenate Floor Amendment No. 1 Adopted; Hendon
  5/19/2005SenatePlaced on Calendar Order of 3rd Reading
  5/19/2005SenateThird Reading - Passed; 058-000-000
  5/19/2005SenateAdded as Alternate Chief Co-Sponsor Sen. Mattie Hunter
  5/19/2005SenateSenate Floor Amendment No. 2 Tabled Pursuant to Rule 5-4(a)
  5/19/2005HouseArrived in House
  5/19/2005HousePlaced on Calendar Order of Concurrence Senate Amendment(s) 1
  5/20/2005HouseSenate Floor Amendment No. 1 Motion Filed Concur Rep. Susana A Mendoza
  5/20/2005HouseSenate Floor Amendment No. 1 Motion to Concur Referred to Rules Committee
  5/23/2005HouseSenate Floor Amendment No. 1 Motion to Concur Recommends be Adopted Rules Committee; 003-002-000
  5/28/2005HouseSenate Floor Amendment No. 1 House Concurs 112-000-000
  5/28/2005HousePassed Both Houses
  6/24/2005HouseSent to the Governor
  8/8/2005HouseGovernor Approved
  8/8/2005HouseEffective Date August 8, 2005
  8/8/2005HousePublic Act . . . . . . . . . 94-0489

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