The legislature's own summary of the bill, or its official long title.
Amends the Common Interest Community Association Act. Requires a common interest association to conduct and update a reserve study every 5 years. "Reserve study" means an analysis of the reserves required for future major maintenance, repairs, and replacements of the common elements. Grants a 5-year window for an association to conduct a reserve study or update a current study. Requires a reserve study to be made…
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Amends the Common Interest Community Association Act. Requires a common interest association to conduct and update a reserve study every 5 years. "Reserve study" means an analysis of the reserves required for future major maintenance, repairs, and replacements of the common elements. Grants a 5-year window for an association to conduct a reserve study or update a current study. Requires a reserve study to be made available to any prospective purchaser of a unit upon request for a resale of any unit in the community. Exempts an association with 15 or fewer units but still requires the board to comply with the budgeting and reserve requirements elsewhere in the Act. Amends the Condominium Property Act to make similar changes.
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28 steps, oldest first, as the legislature records them.
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SenateFiled with Secretary by Sen. Robert F. Martwick
SenateFirst Reading
CommitteeReferred to Assignments · Senate Assignments
CommitteeAssigned to Judiciary · Senate Judiciary
SenateAdded as Co-Sponsor Sen. Donald P. DeWitte
SenateTo Condominiums
SenateAdded as Co-Sponsor Sen. Darby A. Hills
SenateRule 2-10 Committee Deadline Established As March 27, 2026
CommitteeReported Back To Judiciary; 003-000-000 · Senate Judiciary
