IL SB3572

Amends the Common Interest Community Association Act to replace "unit owner" terminology with "member" throughout, allowing these terms to be used interchangeably except when legal title to a unit is involved.

Changes board election requirements from annual to elections held no less frequently than once every 24 months, and increases maximum board member term limits from 3 years to 4 years.

Modifies budget assessment approval thresholds, reducing the required vote for additions and alterations to common areas from two-thirds to a simple majority of total members.

Requires boards to disclose budget variances to members and identify subsequent assessments needed to offset variances, and expands the definition of "emergency" for assessments to include dangers to structural integrity and member safety.

Clarifies that provisions severed by the Act requiring compliance must be revised by the board of directors independent of membership, and requires two-thirds member agreement before a common interest community can commence incorporation as a municipality.