As the new year approaches, it is important for association boards and community association professionals to be cognizant of new laws that may impact the industry. For 2023, there are a few updates, mainly to Section 22.1 of the Illinois Condominium Property Act. This change to Section 22.1 was made in response to prior litigation against associations and their managing agents for requiring owners to pay a fee for a resale disclosure when selling their unit/lot.
The first update is to Section 22.1 of the Illinois Condominium Property Act. The amendment now requires Boards to comply with a written request to view an Association’s records within 10 business days rather than 30 business days.
Additionally, Section 22.1 was amended to reflect that the direct out-of-pocket fee that an Association may charge to make copies of its records cannot exceed $375.00 with annual adjustments tied to the consumer price index. Section 22.1 was also amended to provide that an Association may charge an additional $100.00 if they complete the request within seventy-two hours (aka a “rush” fee). This amendment to Section 22.1 will go into effect on January 1, 2023.
Further, the Illinois General Assembly has made an amendment to the Illinois Property Tax Code which affects both Condominium Associations and Common Interest Communities. Pursuant to Section 16-160 of the Illinois Property Tax Code, an Association can now file an appeal to the Property Tax Appeal Board on behalf of the entire Association or several owners. An Association can file an appeal on any claim that was filed after the 1999 assessment year. This amendment will also go into effect on January 1, 2023.
It is imperative for the Board of Directors of an Association to understand their rights and obligations. As a member of the Board of Directors, it is your responsibility to make sure that your Board is following Illinois law, while also maintaining the financial health of the Association. We can assist and creatively help your community anticipate risk and problem-solve.