Bill Text: IL HB5502 | 2023-2024 | 103rd General Assembly | Enrolled
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Amends the Conveyances Act. Provides that a person or entity that purchases existing residential real estate with the purpose of renovation and resale is prohibited from reselling the real estate within 6 months of purchase.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Passed) 2024-07-19 - Public Act . . . . . . . . . 103-0719 [HB5502 Detail]
Download: Illinois-2023-HB5502-Enrolled.html
Bill Title: Amends the Conveyances Act. Provides that a person or entity that purchases existing residential real estate with the purpose of renovation and resale is prohibited from reselling the real estate within 6 months of purchase.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Passed) 2024-07-19 - Public Act . . . . . . . . . 103-0719 [HB5502 Detail]
Download: Illinois-2023-HB5502-Enrolled.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, | ||||||
| 3 | represented in the General Assembly:
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| 4 | Section 5. The Condominium Property Act is amended by | ||||||
| 5 | changing Section 22.2 as follows:
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