CONDOMINIUMS-MOLD

Amends the Condominium Property Act. Provides that no seller of a unit subject to a declaration and association, property manager, board of managers, or any other association created by the governing recorded declaration and bylaws for the unit, shall fail to disclose to any prospective buyer the existence of measured toxic mold in any indoor residential living space. Provides that any provision between a unit owner and a property manager or a unit owner and a condominium association that seeks to prohibit, limit, or otherwise restrict disclosure of measured toxic mold in a unit by a seller to a buyer is against public policy and is void and unenforceable. Provides that if there exists measured toxic mold and a resident suffers from symptoms associated with measured toxic mold, and adequate notice has been provided by the unit owner to the board of managers, the unit owner may file an action in court against the board of managers for specific performance to have the mold removed and preventive measures taken to ensure that the mold will not return. Provides that the Attorney General, or a local county public health department, shall have authority to investigate complaints of unremediated measured toxic mold. Provides that if, after one year following notice of noncompliance, the affected area has not been subjected to reasonable remedial efforts, penalties may be assessed in an amount up to $5,000 per month, but shall not exceed 50% of the value of the unit subject to the complaint. Provides that the penalties shall be used for mold remediation and to repair and remediate housing stock. Makes a corresponding change in the State Finance Act.