2016 Final Legislative Report for Illinois Investors

2016 Final Legislative Report for Illinois Investors

2016 Legislative Summary

The 2016 Final Legislative Report for Illinois Investors is courtesy of the Illinois Rental Property Owners Association (IRPOA).

As a board member of the IRPOA I am glad to serve and pass this information along to you. I would also like to extend my thanks to fellow Board members Jane Garvey, Paul Arena and Andrew Timms for their tireless efforts to protect the rights of landlords, property managers and real estate investors.

This spring – 3441 Senate Bills and 6599 House Bills were introduced by the Illinois Legislature.  There were also approximately 4000 resolutions and amendments.

More details on each law or bill can be found at the Illinois State website at www.ilga.gov

So if you think your elected officials don’t do anything, think again. The problem is they frequently do more harm than good.

The following bills were passed in 2016 and became law before this blog post was even drafted.

2016 Final Legislative Report for Illinois Investors

SB 2300 – Lead Poisoning Prevention – New notice and mitigation requirements for sellers and landlords when a mitigation notice has been received by owner. New Law – Public Act 99-0790 Effective 1/1/17

SB 2805 –  Real Property Electronic Recording –adds 2 managing real estate brokers to the Illinois Electronic Recording Commission. New Law – Public Act 99-06622 Effective 1/1/17

SB 2833 – County Code – Enforcing Judgments – Hearing officers decision can be enforced in same manner as court judgment. New Law – Public Act 99-0739 Effective 1/1/17

SB 2842 –Trust Properties – Transfer of Title to Trustee requires written instrument of conveyance and acceptance. Where a Trustee of the Trust is making the transfer it must be recorded to be effective. New Law – Public Act 99-0743 Effective 1/1/17.

2016 Final Legislative Report for Illinois Investors

SB 2845 – Amendments to the Code of Civil Procedure – Concerns reviving a judgment, and electronic filing fees. New Law – Public Act – 99-0744 Effective 8/5/16

HB 4361 – LLC – Various changes – fairly massive – 112 pages worth. New Law – Public Act – 99-0637 – Effective 7/1/17 •

SB 3166 – Eviction Mortgagee– Revised language in notice requirements for Plaintiff to renew judgment for possession after 120 days. New Law – Public Act 99-0753 – Effective 1/1/17

SB 3284 – County Code- Adjudication by Administrative Hearings may be handled for local governments by agreement with the County. New Law – Public Act 99-0754 Effective 1/1/17

SB 2427 – Work with TRAEN, Inc to amend the Property Tax Code to rectify problems in Cook County stemming from the Erroneous Homestead Exemption Law passed in 2013. A Class Action suit has been started addressing this issue. New Law – Public Act 99-0851 Effective 8/19/16

SB 2767 County Code – Enforce Ordinances – Hearing Officer’s decision would have the force of court decision without judicial review. Vetoed by the Governor!

It’s your business we are protecting. We need your help!

Thanks for checking out the 2016 Final Legislative Report for Illinois Investors

Donations to IRPOA marked for the Lobbyist Fund will be gladly accepted and forwarded by Illinois REIA.

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