Legislation - SB0063

Title: Cooperative Housing Corporations, Condominiums, and Homeowners Associations – Funding of Reserve Accounts and Preparation of Funding Plans
Sponsored by: Senator Muse
Status: In the House - Third Reading Passed (100-36)
Analysis: Fiscal and Policy Note (Revised)

Synopsis

Requiring that certain funds for certain reserve accounts be deposited on or before the last day of each fiscal year; requiring that certain updated reserve studies be prepared by a certain person; requiring the governing body of a cooperative housing corporation, a residential condominium, or a homeowners association to prepare a certain funding plan subject to certain requirements; authorizing a reasonable deviation from certain reserve funding requirements following a certain financial hardship determination; etc.

Committees

Original:: Judicial Proceedings Click to view Recorded Media

Opposite:: Environment and Transportation Click to view Recorded Media

Committee Testimony

Witness List

Details

Cross-filed with: HB0292

Introduced in a prior session as: SB1157 Session: 2024 Regular Session

Bill File Type: Pre-Filed

Effective Date(s): October 1, 2025

History

Legislation History
Chamber Senate Calendar Date 11/01/2024 Legislative Date 11/01/2024 Action Pre-filed Proceedings
Chamber Senate Calendar Date 1/08/2025 Legislative Date 1/08/2025 Action First Reading Judicial Proceedings Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Cooperative Housing Corporations, Condominiums, and Homeowners Associations – Funding of Reserve Accounts and Preparation of Funding Plans Proceedings
Chamber Senate Calendar Date 1/09/2025 Legislative Date 1/09/2025 Action Hearing 1/21 at 2:30 p.m. Proceedings
Chamber Calendar Date Legislative Date Action Vote - Senate - Committee - Judicial Proceedings Proceedings Click to view Recorded Media
Chamber Senate Calendar Date 3/12/2025 Legislative Date 3/12/2025 Action Favorable with Amendments Report by Judicial Proceedings Proceedings
Chamber Senate Calendar Date 3/12/2025 Legislative Date 2/22/2025 Action Favorable with Amendments {463923/1 Proceedings 42 Click to view Recorded Media
Chamber Senate Calendar Date 3/12/2025 Legislative Date 2/22/2025 Action Motion Laid Over (Senator Hershey) Adopted Proceedings 42 Click to view Recorded Media
Chamber Senate Calendar Date 3/12/2025 Legislative Date 2/23/2025 Action Favorable with Amendments {463923/1 Adopted Proceedings 43 Click to view Recorded Media
Chamber Senate Calendar Date 3/12/2025 Legislative Date 2/23/2025 Action Second Reading Passed with Amendments Proceedings 43 Click to view Recorded Media
Chamber Calendar Date Legislative Date Action Text - Third - Cooperative Housing Corporations, Condominiums, and Homeowners Associations – Funding of Reserve Accounts and Preparation of Funding Plans Proceedings
Chamber Senate Calendar Date 3/13/2025 Legislative Date 2/24/2025 Action Motion Special Order until 3/14 (Senator King) Proceedings 44 Click to view Recorded Media
Chamber Senate Calendar Date 3/14/2025 Legislative Date 2/27/2025 Action Third Reading Passed (38-6) Proceedings 47 Click to view Recorded Media
Chamber House Calendar Date 3/15/2025 Legislative Date 3/06/2025 Action Referred Environment and Transportation Proceedings 46 Click to view Recorded Media
Chamber House Calendar Date 3/19/2025 Legislative Date 3/19/2025 Action Hearing 3/25 at 1:00 p.m. Proceedings
Chamber Calendar Date Legislative Date Action Vote - House - Committee - Environment and Transportation Proceedings Click to view Recorded Media
Chamber House Calendar Date 3/31/2025 Legislative Date 3/31/2025 Action Favorable Report by Environment and Transportation Proceedings
Chamber House Calendar Date 3/31/2025 Legislative Date 3/14/2025 Action Favorable Adopted Second Reading Passed Proceedings 54 Click to view Recorded Media
Chamber House Calendar Date 4/01/2025 Legislative Date 3/16/2025 Action Third Reading Passed (100-36) Proceedings 56 Click to view Recorded Media

Chamber	Calendar Date	Legislative Date	Action	Proceedings
Senate	11/01/2024	11/01/2024	Pre-filed
Senate	1/08/2025	1/08/2025	First Reading Judicial Proceedings
			Text - First - Cooperative Housing Corporations, Condominiums, and Homeowners Associations – Funding of Reserve Accounts and Preparation of Funding Plans
Senate	1/09/2025	1/09/2025	Hearing 1/21 at 2:30 p.m.
			Vote - Senate - Committee - Judicial Proceedings	Click to view Recorded Media
Senate	3/12/2025	3/12/2025	Favorable with Amendments Report by Judicial Proceedings
Senate	3/12/2025	2/22/2025	Favorable with Amendments {463923/1	42 Click to view Recorded Media
Senate	3/12/2025	2/22/2025	Motion Laid Over (Senator Hershey) Adopted	42 Click to view Recorded Media
Senate	3/12/2025	2/23/2025	Favorable with Amendments {463923/1 Adopted	43 Click to view Recorded Media
Senate	3/12/2025	2/23/2025	Second Reading Passed with Amendments	43 Click to view Recorded Media
			Text - Third - Cooperative Housing Corporations, Condominiums, and Homeowners Associations – Funding of Reserve Accounts and Preparation of Funding Plans
Senate	3/13/2025	2/24/2025	Motion Special Order until 3/14 (Senator King)	44 Click to view Recorded Media
Senate	3/14/2025	2/27/2025	Third Reading Passed (38-6)	47 Click to view Recorded Media
House	3/15/2025	3/06/2025	Referred Environment and Transportation	46 Click to view Recorded Media
House	3/19/2025	3/19/2025	Hearing 3/25 at 1:00 p.m.
			Vote - House - Committee - Environment and Transportation	Click to view Recorded Media
House	3/31/2025	3/31/2025	Favorable Report by Environment and Transportation
House	3/31/2025	3/14/2025	Favorable Adopted Second Reading Passed	54 Click to view Recorded Media
House	4/01/2025	3/16/2025	Third Reading Passed (100-36)	56 Click to view Recorded Media

File Code

Subjects

Statutes