Legislation - SB1011

Title: Real Property - Insufficient Condominium Reserve Account Grant Fund - Establishment
Sponsored by: Senator Attar
Status: In the Senate - Rereferred to Judicial Proceedings and Budget and Taxation
Analysis

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:: Judicial Proceedings; Budget and Taxation

Details

Cross-filed with: HB1411

Bill File Type: Regular

Effective Date(s): October 1, 2025

History

Legislation History
Chamber Senate Calendar Date 2/12/2025 Legislative Date 2/03/2025 Action First Reading Senate Rules Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Real Property - Insufficient Condominium Reserve Account Grant Fund - Establishment Proceedings
Chamber Senate Calendar Date 2/21/2025 Legislative Date 2/24/2025 Action Rereferred to Judicial Proceedings and Budget and Taxation Proceedings

Chamber	Calendar Date	Legislative Date	Action
Senate	2/12/2025	2/03/2025	First Reading Senate Rules
			Text - First - Real Property - Insufficient Condominium Reserve Account Grant Fund - Establishment
Senate	2/21/2025	2/24/2025	Rereferred to Judicial Proceedings and Budget and Taxation

File Code

Subjects

Statutes