CONDO ADVISORY COUNCIL

Creates the Condominium Advisory Council Act. Subject to appropriation, the Condominium Advisory Council is created in the Department of Revenue. Subject to appropriation, the Department shall provide administrative and financial support to the Council. Provides that the Council will be composed of 7 members, 4 appointed by the legislative leaders and 3 appointed by the Governor. Provides that the Council shall: (1) identify issues facing condominium owners, condominium associations, and other persons who have financial interests in condominiums; (2) study the Condominium Property Act and related Acts that affect condominium ownership and suggest legislation to the General Assembly to amend those Acts; and (3) report its findings and recommendations to the Governor and General Assembly by January 31, 2008. Provides that the Council shall be dissolved 30 days after it reports its findings and recommendations to the Governor and General Assembly. Effective immediately.