CONDOS-BYLAW-RENT PROHIBITIONS Senate SponsorsSen. Dan Cronin 1/12/2011SenateSession Sine Die 765 ILCS 605/22.3 new805 ILCS 105/103.40 newAmends the Condominium Property Act and the General Not For Profit Act. Provides that: in the event of a proposed sale of a condominium unit, or a proposed sale of a unit in a common interest community or homeowners' association, by a unit owner other than the developer to a 501(c)(3) organization that intends to lease the unit for the purpose of providing affordable housing, the unit owner must disclose the proposed sale to the board of managers, or to the board of directors in the instance of a common interest community or homeowners' association, and request issuance of a certificate approving the sale to the 501(c)(3) organization for that purpose for as long as the 501(c)(3) organization owns the property; if the board approves the sale and issues a certificate approving the sale, the unit owner must record the certificate with the recorder; and a 501(c)(3) organization may not lease a unit for the purpose of providing affordable housing unless those requirements have been met. 2/10/2010SenateFiled with Secretary by Sen. Dan Cronin 2/10/2010SenateFirst Reading 2/10/2010SenateReferred to Assignments 2/24/2010SenateAssigned to Judiciary 3/3/2010SenatePostponed - Judiciary 3/8/2010SenateRule 3-9(a) / Re-referred to Assignments 1/12/2011SenateSession Sine Die