Real Estate Law

(Evans, D-Chicago; Castro, D-Chicago) amends Public Act 102-1067 as follows: (1) Makes it applicable if the private work’s aggregate costs of the project exceed $20,000. (2) Deletes liability under this Act for a primary contractor to “a third party on a wage claimant’s behalf incurred pursuant to this Act by a subcontractor.” (3) Clarifies that primary contractors who are parties to a collective bargaining agreement on the work being performed is exempt from liability under this Section. (Instead of being exempt from “specified provisions.”) (4) Exempts primary contractors from liability under this Section for the alteration or repair of an existing single-family dwelling or to a single residential-unit in an existing multi-unit structure. (5) Creates the Bond Reform in the Construction Industry Task Force. This Act takes effect June 10, 2022. 

(Evans, D-Chicago; Castro, D-Elgin) amends the Illinois Wage Payment and Collection Act to make a “primary contractor” engaged in construction of a structure to assume and be liable for any debt owed to a claimant incurred under this Act by a subcontractor at any tier acting under, by, or for the primary contractor. House Bill 5412 applies to any contract entered into on or after July 1, 2022. 

It exempts any work performed by a contractor of the federal government, the State, or unit of local government. Provides that the primary contractor's liability under the new provisions extends only to any unpaid wages or fringe or other benefit payments or contributions, including interest owed, penalties assessed by the Department, and reasonable attorney’s fees, but does not extend to liquidated damages. Primary contractors who are parties to a collective bargaining agreement on the work being performed are exempt from specified provisions. Effective June 10, 2022.  
 

(Reick, R-Woodstock; Barickman, R-Bloomington) creates a statutory form for special warranty deeds to standardize the most common form of deed used in commercial real estate practice. Effective January 1, 2023. 

(Murphy, D-Des Plaines; Croke, D-Chicago) amends the Illinois Property Tax Code affecting the Illinois Property Tax Appeal Board. Currently, there is statutory authority in the Condominium Property Act to allow condominium associations to file a joint appeal on behalf of all owners as an association to the Property Tax Appeal Board. But there is no such mechanism in the Code to allow for homeowner associations to file joint appeals on behalf of all owners. Public Act 102-1000 will allow homeowner associations the right to file one appeal on behalf of all owners as condo associations now can do. Effective January 1, 2023. 

(Ford, D-Chicago; Villivalam, D-Chicago) amends the Illinois Human Rights Act to declare Illinois’ public policy is to prevent discrimination based on source of income in real estate transactions. Defines “source of income” as the lawful manner by which an individual is supported and their dependents are supported. Makes it a civil rights violation for specified discriminatory actions because of an individual’s source of income. Effective January 1, 2023.

(Tarver, D-Chicago; Sims, D-Chicago) is the first major update of the Residential Real Estate Disclosure Act since its enactment in 1994. Among its many changes include allowing for electronic delivery and notice of the disclosure and harmonizes this Act with the newer Illinois Trust Code and the Transfer on Death Instrument Act. It also clarifies that a seller does not waive being exempt if a disclosure report is nevertheless delivered. It also includes additional consumer protections for the buyer. Effective May 13, 2022. 

(Croke, D-Chicago; Feigenholtz, D-Chicago) adds a reserve study to the list of records that boards must provide to their homeowners upon request. It also extends the repeal date of Condominium and Common Interest Community Ombudsperson Act to January 1, 2024 (rather than July 1, 2022). Passed both chambers.