SENATE BILL 291

File Code: Real Property Crossfiled with: HOUSE BILL 993

Sponsored By:

Senator Kelley

Entitled:

Condominiums and Homeowners Associations - Assessments and Reserves

Synopsis:

Requiring condominium developers to pay the assessment for a condominium unit or a lot in a development until the unit or lot is sold; requiring developers and the governing bodies of a condominium or homeowners association to have reserve studies conducted at specified times; requiring the annual budget of a homeowners association to provide for reserves; etc.

History by Legislative and Calendar Date

Legislative date is used to record history occuring in the Chambers otherwise Calendar date is used.

Senate Action

1/25

First Reading Judicial Proceedings

2/6

Hearing 2/27 at 1:00 p.m.

3/17

Unfavorable Report by Judicial Proceedings

House Action

No Action

Bill indexed under the following Subjects:

Assessments

Budgets -see also- Capital Budgets

Condominiums

Homeowners Associations

Bill affects the following Statutes:

Real Property

( 11-109.2 , 11-110 , 11-139.3 , 11B-101 , 11B-102 , 11B-112.2 , 11B-112.3 )

Documents:

Bill Text (Displayed in PDF Format): First Reading, Third Reading, Enrolled

Fiscal and Policy Note (Displayed in PDF Format): Available

Amendments: None offered