DISSOL-PROPERTY DISSIPATION

Amends the Illinois Marriage and Dissolution of Marriage Act. In provisions concerning the dissipation of marital or non-marital property, provides that a party's claim of dissipation is subject to the following conditions: a notice of intent to claim dissipation shall be given no later than 60 days before trial or 30 days after discovery closes, whichever is later; the notice shall contain, at a minimum, the time period during which the marriage began undergoing an irretrievable breakdown, an identification of the property dissipated, and the time during which the dissipation occurred; the notice shall be filed and served pursuant to applicable rules; and no dissipation shall be deemed to have occurred prior to 5 years before the filing of the petition for dissolution of marriage or 3 years after the party claiming dissipation knew or should have known of the dissipation.