Legislation - SB0787

Title: Cooperative Housing Corporations and Condominiums - Funding of Reserve Accounts and Timing of Reserve Studies
Sponsored by: Senator Jennings
Status: In the Senate - Hearing 2/25 at 1:00 p.m.
Analysis

Synopsis

Establishing that a reserve study conducted for a cooperative housing corporation or condominium must identify only certain components with a repair or replacement cost that exceeds $10,000; establishing an exception to the requirement to conduct a reserve study for certain cooperative housing corporations and condominiums; altering the timing for an updated reserve study from at least 5 to at least 10 years under certain circumstances; etc.

Committees

Original:: Judicial Proceedings

Details

Bill File Type: Regular

Effective Date(s): October 1, 2025

History

Legislation History
Chamber Senate Calendar Date 2/03/2025 Legislative Date 1/28/2025 Action First Reading Judicial Proceedings Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Cooperative Housing Corporations and Condominiums - Funding of Reserve Accounts and Timing of Reserve Studies Proceedings
Chamber Senate Calendar Date 2/04/2025 Legislative Date 2/04/2025 Action Hearing 2/25 at 1:00 p.m. Proceedings

Chamber	Calendar Date	Legislative Date	Action
Senate	2/03/2025	1/28/2025	First Reading Judicial Proceedings
			Text - First - Cooperative Housing Corporations and Condominiums - Funding of Reserve Accounts and Timing of Reserve Studies
Senate	2/04/2025	2/04/2025	Hearing 2/25 at 1:00 p.m.

File Code

Subjects

Statutes