PROPERTY-RECORDS-RESERVE STUDY

Amends the Common Interest Community Association Act. Requires a common interest community association's board of managers or board of directors to maintain a record of any reserve study. Amends the Condominium Property Act. Requires the board of managers of every association to keep and maintain records of any reserve study. Senate Committee Amendment No. 2 Adds reference to: 765 ILCS 160/1-90 765 ILCS 605/35 765 ILCS 615/70 Extends the repeal date of specific Sections related to compliance in the Common Interest Community Association Act and the Condominium Property Act to January 1, 2024 (rather than July 1, 2022). Amends the Condominium and Common Interest Community Ombudsperson Act. Extends the repeal date of the Act to January 1, 2024 (rather than July 1, 2022). Adds an immediate effective date.