Legislation - HB1411

Title: Real Property - Insufficient Condominium Reserve Account Grant Fund - Establishment
Sponsored by: Delegates Rosenberg and Ruff
Status: In the House - Hearing 3/04 at 1:00 p.m.
Analysis: Fiscal and Policy Note

Synopsis

Establishing the Insufficient Condominium Reserve Account Grant Fund to provide grants to low-income condominium owners who live in condominiums with insufficient reserve accounts to enable a low-income unit owner to pay increased assessments necessary for a condominium association to meet reserve account funding requirements; requiring that the Fund prioritize low-income adults aged 65 years or older; and requiring low-income unit owners who received grants to make a certain report regarding the reserve account balance by December 31 annually.

Committees

Original:: Environment and Transportation

Details

Cross-filed with: SB1011

Introduced in a prior session as: HB1035 Session: 2024 Regular Session

Bill File Type: Regular

Effective Date(s): October 1, 2025

History

Legislation History
Chamber House Calendar Date 2/07/2025 Legislative Date 2/07/2025 Action First Reading Environment and Transportation Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Real Property - Insufficient Condominium Reserve Account Grant Fund - Establishment Proceedings
Chamber House Calendar Date 2/07/2025 Legislative Date 2/07/2025 Action Hearing 3/04 at 1:00 p.m. Proceedings

Chamber	Calendar Date	Legislative Date	Action
House	2/07/2025	2/07/2025	First Reading Environment and Transportation
			Text - First - Real Property - Insufficient Condominium Reserve Account Grant Fund - Establishment
House	2/07/2025	2/07/2025	Hearing 3/04 at 1:00 p.m.

File Code

Subjects

Statutes