IL SB1914

Amends the Condominium Property Act to require condominium associations to designate a portion of reserve funds to assist unit owners who lose use of their unit due to board of managers negligence

Reserve fund assistance applies only to unit owners who do not carry Category D loss-of-use insurance

Covers expenses incurred by unit owners as a result of being unable to use their unit when the board's negligence caused the loss of use

Introduced by Sen. Lakesia Collins on February 6, 2025