Business Advice and Financial Planning

(Williams, D-Chicago; Ellman, D-Naperville) amends the Illinois Radon Awareness Act. It provides that the lessor shall provide the prospective tenant or tenant of a dwelling unit with the Illinois Emergency Management Agency’s “Radon Guide for Tenants” pamphlet, copies of any records or reports pertaining to radon concentrations within the dwelling unit that indicate a radon hazard to the tenant, and the new statutory Disclosure of Information on Radon Hazards to Tenants form. These must be provided at the time of a prospective tenant’s application to lease a dwelling unit, before a lease is entered into, or at any time during the leasing period upon request. Provides that at the commencement of the agreed leasing period, a tenant shall have 90 days to conduct his or her own radon test of the dwelling unit. Requires a tenant who decides to have radon mitigation performed to have the express consent of the lessor before doing so. Makes other changes. Effective Jan. 1, 2024.

(Croke, D-Chicago; Ellman, D-Naperville) creates a new article in the Probate Code authorizing the use of electronic nontestamentary estate planning documents. “Nontestamentary estate planning document” means a record relating to estate planning that is readable as text at the time of signing and is not a will or contained in a will. It applies to records that create, exercise, modify, release, or revoke estate planning documents with the exception of deeds to real estate and car titles. Effective Jan. 1, 2024.

(Stava-Murray, D-Downers Grove; Villivalam, D-Chicago) amends the Landlord and Tenant Act to prohibit a landlord from requiring a tenant or prospective tenant to pay by electronic fund transfer to a landlord under a residential lease, renewal, or extension agreement. On or after March 1, 2024, a violation is an unlawful practice under the Consumer Fraud and Deceptive Business Practices Act. This Act applies to leases or agreements executed after January 1, 2024. 

(Croke, D-Chicago; Ellman, D-Naperville) creates a new article in the Probate Code authorizing the use of electronic nontestamentary estate planning documents. “Nontestamentary estate planning document” means a record relating to estate planning that is readable as text at the time of signing and is not a will or contained in a will. It applies to electronic records readable as text at the time of signing that creates, exercises, modifies, releases, or revokes estate planning documents with the exception of deeds to real estate and car titles. Passed both chambers. 
 

(Tarver, D-Chicago; Sims, D-Chicago) provides that "seller" does not include a beneficiary who has both (1) never occupied the residential real property and (2) never had management responsibility for the residential real property. Passed both chambers. 

(Collins, D-Chicago; Johnson, D-Waukegan) allows a person who has been convicted of a felony to act as an executor if: (1) the testator names that person as an executor and expressly acknowledges in the will that the testator is aware that the person has been convicted of a felony before the execution of the will or codicil; (2) the person is not prohibited by law from receiving a share of the testator’s estate; (3) the person was not previously convicted of financial exploitation of an elderly person or a person with a disability, financial identity theft, or a similar crime in another state or in federal court; and (4) the person is not incarcerated in a state or federal prison. Passed both chambers.