Illinois HB 5495: CONDO-CI ASSN-OMBUDSPERSON

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104TH GENERAL ASSEMBLY 
State of Illinois 
2025 and 2026
HB5495

Introduced 2/13/2026, by Rep. Margaret A. DeLaRosa 

SYNOPSIS AS INTRODUCED:

765 ILCS 160/1-30

765 ILCS 605/19 from Ch. 30, par. 319

765 ILCS 615/20

765 ILCS 615/40

765 ILCS 615/41 new

 Amends the Common Interest Community Association Act. Provides that financial records of the association for the last 7 years must be made available to unit owners upon request. Provides that financial records include, but are not limited to, the income statement, balance sheet, check register, current budget with monthly variation, detailed records of receipts and expenditures affecting the operation and administration of the association, reserve account details, tax returns and other appropriate accounting records. Amends the Condominium and Common Interest Community Ombudsperson Act. Provides that if the Ombudsperson is unable to resolve the complaint through the dispute resolution process, the Ombudsperson may investigate the complaint. Provides that the Department of Financial and Professional Regulation must examine the issues and the records, make findings of fact and conclusions of law, and issue to the parties a written determination in response to the complaint. Provides that the determination is binding on both the parties, subject to administrative review. Provides that the respondent must comply with the requirements of a written determination from the Department within 7 days after the notice of violation is received. Provides that if a respondent fails to comply with the requirements of a notice of violation within the required time period, and the Department has not received written notice of the respondent's request for an administrative hearing, the Department ma