August 19, 2005

To the Honorable Members of the

Illinois Senate

94th General Assembly

Pursuant to Article IV, Section 9(b) of the Illinois Constitution of 1970, I hereby veto

­Senate Bill 1915, entitled “AN ACT concerning condominiums.”   Senate Bill 1915 limits the amount a condominium association can charge for late payments on monthly assessments.  Condominium Associations are run by the owners themselves and ought to be given the freedom to determine the amount of late fees to be assessed.  The Association is uniquely qualified to determine the economic impact of late payments and the incentive value of these penalties; in this case, one size does not fit all. 

            For this reason, I hereby veto and return Senate Bill 1915.

Sincerely,

ROD R. BLAGOJEVICH

Governor