#aacth ,,congress  #ast ,session  ,h4   
,r4 #bfjj  ,,an ,,act  ,to amend the    
,interstate ,land ,sales ,full          
,disclosure ,act to clarify how the ,act
 applies to condominiums4  #a4          
,exemption for residential condominium  
units  7a7 ,exemption ,section #adjc of 
the ,interstate ,land ,sales ,full      
,disclosure ,act 7#ae ,u4,s4,c4 #agjb7  
is amended--  7#a7 in subsection 7b7--  
7,a7 in paragraph 7#g77;,c71 by striking
 or at the end2  7,b7 in paragraph      
7#h77;,g71 by striking the period at the
 end and inserting 2 or2 and  7,c7 by   
adding at the end the following3  7#i7  
the sale or lease of a condominium unit 
that is not exempt under subsection 7a74
  2 and  7#b7 by adding at the end the  
following3  7d7 ,for purposes of        
subsection 7b71 the term condominium    
unit means a unit of residential or     
commercial property to be designated for
 separate ownership pursuant to a       
condominium plan or declaration provided
 that upon conveyance--  7#a7 the owner 

of such unit will have sole ownership of
 the unit and an undivided interest in  
the common elements appurtenant to the  
unit2 and  7#b7 the unit will be an     
improved lot4  4  #b4 ,effective date   
,the amendments made by this ,act shall 
take effect #ahj days after the date of 
the enactment of this ,act4  ,passed the
 ,house of ,representatives ,september  
#bf1 #bjac4;,clerk4