Bill Text: IL HB1466 | 2019-2020 | 101st General Assembly | Engrossed
Bill Title: Amends the Condominium Property Act. Provides that upon authorization by a two-thirds vote of the members of the board of managers or by the affirmative vote of not less than a majority of the unit owners at a meeting duly called for such a purpose, or upon such greater vote as may be required by the declaration or bylaws, the board of managers acting on behalf of all unit owners may allocate the percentage of ownership in the common elements as a tract for each unit for the limited purpose of calculating the assessment or levy of any such taxes, special assessments, or charges of the State of Illinois or of any political subdivision thereof. Provides that the allocation of ownership under the new provisions shall be based on the square footage of each individual unit. Provides that the allocation of ownership under the new provisions shall also be separate from, and in addition to, the allocation for purposes of association assessments for common expenses, association special assessments and charges, and voting rights.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Introduced - Dead) 2019-04-12 - Rule 19(a) / Re-referred to Rules Committee [HB1466 Detail]
Download: Illinois-2019-HB1466-Engrossed.html
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1 | AN ACT concerning civil law.
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2 | Be it enacted by the People of the State of Illinois,
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3 | represented in the General Assembly:
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4 | Section 5. The Condominium Property Act is amended by | ||||||
5 | changing Section 10 as follows:
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6 | (765 ILCS 605/10) (from Ch. 30, par. 310)
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7 | Sec. 10. Separate taxation.
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8 | (a) Real property taxes, special assessments,
and any other | ||||||
9 | special taxes or charges of the State of Illinois or of any
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10 | political subdivision thereof, or other lawful taxing or | ||||||
11 | assessing body, which
are authorized by law to be assessed | ||||||
12 | against and levied upon real property
shall be assessed against | ||||||
13 | and levied upon each unit and the owner's
corresponding | ||||||
14 | percentage of ownership in the common elements as a tract, and
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15 | not upon the property as a whole. For purposes of property | ||||||
16 | taxes, real
property owned and used for residential purposes by | ||||||
17 | a condominium association,
including a master association, but | ||||||
18 | subject to the exclusive right by easement,
covenant, deed or | ||||||
19 | other interest of the owners of one or more condominium
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20 | properties and used exclusively by the unit owners for | ||||||
21 | recreational or other
residential purposes shall be assessed at | ||||||
22 | $1.00 per year. The balance of the
value of the property shall | ||||||
23 | be assessed to the condominium unit owners.
In counties |
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1 | containing 1,000,000 or more inhabitants, any person desiring
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2 | to establish or to reestablish an assessment of $1.00 under | ||||||
3 | this Section shall
make application therefor and be subject to | ||||||
4 | the provisions of Section 10-35
of the Property Tax Code.
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5 | (b) Each condominium unit shall be only subject to the tax | ||||||
6 | rate for those
taxing districts in which such unit is actually, | ||||||
7 | physically located. The
county clerk shall not apply a rate | ||||||
8 | which is an average of two or more
different districts to any | ||||||
9 | condominium unit.
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10 | (c) Upon authorization by a two-thirds vote of the members | ||||||
11 | of the
board of managers or by the affirmative vote of not less | ||||||
12 | than a
majority of the unit owners at a meeting duly called for | ||||||
13 | such purpose, or
upon such greater vote as may be required by | ||||||
14 | the declaration or bylaws, the
board of managers acting on | ||||||
15 | behalf of all unit owners shall have the power
to seek relief | ||||||
16 | from or in connection with the assessment or levy of any
such | ||||||
17 | taxes, special assessments or charges, and to charge and | ||||||
18 | collect all
expenses incurred in connection therewith as common | ||||||
19 | expenses. | ||||||
20 | (d) Upon authorization by a two-thirds vote of the unit | ||||||
21 | owners at a meeting duly called for such a purpose, or
upon | ||||||
22 | such greater vote as may be required by the declaration or | ||||||
23 | bylaws, the
board of managers acting on behalf of all unit | ||||||
24 | owners may allocate the percentage of ownership in the common | ||||||
25 | elements as a tract for each unit for the limited purpose of | ||||||
26 | calculating the assessment or levy of any
such taxes, special |
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1 | assessments, or charges of the State of Illinois or of any
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2 | political subdivision thereof. The allocation of ownership | ||||||
3 | under this subsection shall be based on the square footage of | ||||||
4 | each individual unit. The allocation of ownership under this | ||||||
5 | subsection shall also be separate from, and in addition to, the | ||||||
6 | allocation of ownership for purposes of assessments for common | ||||||
7 | expenses, association special assessments and charges, and | ||||||
8 | voting rights. This subsection applies only to an association | ||||||
9 | with 20 units or less.
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10 | (Source: P.A. 88-670, eff. 12-2-94.)
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