Bill Title: Amends the Common Interest Community Association Act. Provides that any association with major shared components or significant infrastructure that has had a reserve study conducted on or after January 1, 2020, shall have an updated reserve study conducted within 5 years after the date the reserve study was conducted and at least every 5 years thereafter. Sets forth requirements for the reserve study. Amends the Condominium Property Act. Provides that any association with major shared components or significant infrastructure that has had a reserve study conducted on or after January 1, 2020, shall have an updated reserve study conducted within 5 years after the date the reserve study was conducted and at least every 5 years thereafter. Sets forth requirements for the reserve study. Makes a conforming change.

Spectrum: Bipartisan Bill

Status: (Engrossed) 2024-05-25 - Rule 2-10 Third Reading Deadline Established As May 26, 2024 [HB0220 Detail]

Text: Latest bill text (Engrossed) [HTML]

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Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Representative Kelly Burke [D]	Primary	Sponsored Bills	HD-036	FollowTheMoney	Ballotpedia	VoteSmart
Representative Kambium Buckner [D]	Cosponsor	Sponsored Bills	HD-026	FollowTheMoney	Ballotpedia	VoteSmart
Representative Dan Ugaste [R]	Cosponsor	Sponsored Bills	HD-065	FollowTheMoney	Ballotpedia	VoteSmart
Senator William Cunningham [D]	Primary	Sponsored Bills	SD-018	FollowTheMoney	Ballotpedia	VoteSmart
Senator Donald DeWitte [R]	Cosponsor	Sponsored Bills	SD-033	FollowTheMoney	Ballotpedia	VoteSmart

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