Who does Illinois §1-45 apply to?

Illinois §1-45 applies to HOA associations in Illinois.

What happens if our HOA doesn't comply with §1-45?

Non-compliance can expose the association and individual directors to disputes in the governing forum for Illinois community associations. SoShiny's audit trail and documented workflows are designed to demonstrate good-faith compliance.

Where can I read the official text of Illinois §1-45?

The official text is published by the Illinois General Assembly at ilga.gov. The summary on this page is for plain-English reference only and is not legal advice.

Illinois §1-45

Finances

Statute:: Illinois §1-45 · Act CICAA (Common Interest Community Association Act (765 ILCS 160))
Topic:: Finances · Budget and 115 percent cap
Applies to:: HOA associations

Each member gets the proposed annual budget at least 30 days and not more than 60 days before the board adopts it, with reserves, capital work, and real-estate taxes flagged. After the year, the board gives a detailed receipts-and-expenses summary or a consolidated independent audit. If an adopted budget or separate assessment would push the year's regular plus special assessments over 115 percent of last year, members with 20 percent of the votes may petition within 14 days (not the condo Act's 21) and force a meeting within 30 days — the budget stands unless a majority of all votes reject it. Emergency or legally mandated separate assessments are not subject to that veto. A variance over the adopted budget must be disclosed.

30 to 60 days; 115 percent; 14 days; 20 percent petition; reserves

📄 Read the official text at ilga.gov →

How SoShiny helps with Finances

SoShiny is built around the Florida statutes from day one. The features that help you comply with this section are part of every plan — no add-ons, no per-document fees.

See the feature → Start free

Frequently asked

What does Illinois §1-45 require?: Each member gets the proposed annual budget at least 30 days and not more than 60 days before the board adopts it, with reserves, capital work, and real-estate taxes flagged. After the year, the board gives a detailed receipts-and-expenses summary or a consolidated independent audit. If an adopted budget or separate assessment would push the year's regular plus special assessments over 115 percent of last year, members with 20 percent of the votes may petition within 14 days (not the condo Act's 21) and force a meeting within 30 days — the budget stands unless a majority of all votes reject it.
Who does Illinois §1-45 apply to?: Illinois §1-45 applies to HOA associations in Illinois.
What happens if our HOA doesn't comply with §1-45?: Non-compliance can expose the association and individual directors to disputes in the governing forum for Illinois community associations. SoShiny's audit trail and documented workflows are designed to demonstrate good-faith compliance.
Where can I read the official text of Illinois §1-45?: The official text is published by the Illinois General Assembly at ilga.gov. The summary on this page is for plain-English reference only and is not legal advice.
How does SoShiny help with Finances?: SoShiny is built around the Florida statutes from day one. The features that help you comply with this section are part of every plan — no add-ons, no per-document fees. Learn more →

Not legal advice. This page is a plain-English summary of Illinois §1-45 prepared by SoShiny for board members and managers. For binding legal advice or interpretation, consult a Illinois-licensed attorney. For the official statutory text, see the link above.

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