Legislation - HB0292

Title: Cooperative Housing Corporations, Condominiums, and Homeowners Associations - Funding of Reserve Accounts and Preparation of Funding Plans
Sponsored by: Delegates Holmes, Roberts, Hartman, Allen, Boyce, and Foley
Status: In the Senate - First Reading Judicial Proceedings
Analysis: Fiscal and Policy Note

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:: Environment and Transportation Click to view Recorded Media

Opposite:: Judicial Proceedings

Committee Testimony

Witness List

Details

Cross-filed with: SB0063

Introduced in a prior session as: HB0281 Session: 2024 Regular Session

Bill File Type: Regular

Effective Date(s): October 1, 2025

History

Legislation History
Chamber House Calendar Date 1/09/2025 Legislative Date 1/09/2025 Action First Reading Environment and Transportation 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 House Calendar Date 1/15/2025 Legislative Date 1/15/2025 Action Hearing 2/04 at 1:00 p.m. Proceedings
Chamber House Calendar Date 1/20/2025 Legislative Date 1/20/2025 Action Hearing canceled Proceedings
Chamber House Calendar Date 1/20/2025 Legislative Date 1/20/2025 Action Hearing 1/24 at 2:30 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 3/03/2025 Legislative Date 3/03/2025 Action Favorable with Amendments Report by Environment and Transportation Proceedings
Chamber House Calendar Date 3/04/2025 Legislative Date 2/25/2025 Action Favorable with Amendments {423625/1 Adopted Proceedings 37BClick to view Recorded Media
Chamber House Calendar Date 3/04/2025 Legislative Date 2/25/2025 Action Second Reading Passed with Amendments Proceedings 37BClick 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 House Calendar Date 3/06/2025 Legislative Date 2/27/2025 Action Third Reading Passed (102-33) Proceedings 39 Click to view Recorded Media
Chamber Senate Calendar Date 3/07/2025 Legislative Date 2/19/2025 Action Referred Judicial Proceedings Proceedings 39 Click to view Recorded Media

Chamber	Calendar Date	Legislative Date	Action	Proceedings
House	1/09/2025	1/09/2025	First Reading Environment and Transportation
			Text - First - Cooperative Housing Corporations, Condominiums, and Homeowners Associations - Funding of Reserve Accounts and Preparation of Funding Plans
House	1/15/2025	1/15/2025	Hearing 2/04 at 1:00 p.m.
House	1/20/2025	1/20/2025	Hearing canceled
House	1/20/2025	1/20/2025	Hearing 1/24 at 2:30 p.m.
			Vote - House - Committee - Environment and Transportation	Click to view Recorded Media
House	3/03/2025	3/03/2025	Favorable with Amendments Report by Environment and Transportation
House	3/04/2025	2/25/2025	Favorable with Amendments {423625/1 Adopted	37BClick to view Recorded Media
House	3/04/2025	2/25/2025	Second Reading Passed with Amendments	37BClick to view Recorded Media
			Text - Third - Cooperative Housing Corporations, Condominiums, and Homeowners Associations - Funding of Reserve Accounts and Preparation of Funding Plans
House	3/06/2025	2/27/2025	Third Reading Passed (102-33)	39 Click to view Recorded Media
Senate	3/07/2025	2/19/2025	Referred Judicial Proceedings	39 Click to view Recorded Media

File Code

Subjects

Statutes