| Bill Information | |
|---|---|
| MC 3-21 | Montgomery County – Cooperative Housing Corporations, Condominiums, and Homeowners Associations - Reserve Studies |
| Requested by | Delegates Crutchfield & Stewart |
| Synopsis | For the purpose of requiring the governing body of certain cooperative housing corporations in Montgomery County to have a reserve study conducted of the common elements of the cooperative housing corporation by a certain date and at certain intervals under certain circumstances; requiring the reserve study conducted of the common elements of a cooperative housing corporation in Montgomery County to meet certain criteria; requiring the annual budget of a cooperative housing corporation in Montgomery County to include certain information if a reserve study indicates a need to budget for reserves; requiring the governing body of a cooperative housing corporation in Montgomery County to provide reserve funds in the annual budget for the cooperative housing corporation in accordance with a reserve study conducted under this Act; establishing that the governing body of a cooperative housing corporation in Montgomery County has the authority to increase a certain assessment notwithstanding certain provisions; altering the content of the annual budget of certain condominiums in Montgomery County; requiring the governing body of certain condominiums in Montgomery County to have a reserve study conducted of the common elements of the condominium by a certain date and at certain intervals under certain circumstances; requiring the reserve study conductedof the common elements of a condominium in Montgomery County to meet certain criteria; requiring the governing body of a condominium in Montgomery County to provide reserve funds in the annual budget for the condominium in accordance with a reserve study conducted under this Act; establishing that the board of directors of a condominium in Montgomery County has the authority to increase a certain assessment notwithstanding certain provisions; altering the content of the annual budget of certain homeowners associations; requiring the governing body of certain homeowners associations in Montgomery County to have a reserve study conducted of the common areas of a homeowners association by a certain date and at certain intervals under certain circumstances; requiring the reserve study conducted of the common areas of a homeowners association in Montgomery County to meet certain criteria; requiring the governing body of a homeowners association in Montgomery County to provide reserve funds in the annual budget for the homeowners association in accordance with a reserve study conducted under this Act; establishing that the governing body of a homeowners association in Montgomery County has the authority to increase a certain assessment notwithstanding certain provisions; altering certain definitions; providing for the application of this Act; and generally relating to reserve studies and annual budgets of cooperative housing corporations, condominiums, and homeowners associations in Montgomery County. |
| Bill Text | |
| House Bill Number | HB 567 |
| Bill History | |
| Local Action House - Montgomery County Delegation: | 10/29/20: Assigned to the Education, Elections, and Housing Committee |
12/8/20: Montgomery County Delegation Bill Hearing - 7:00 p.m. The hearing will be live-streamed on the Delegation's YouTube page. |
|
| 12/15/20: Education, Elections, and Housing Committee Meeting - AGENDA - Favorable with amendment (4-1) - Voting list on bill - Amendment - Voting list on amendment | |
| 1/7/21: Montgomery County House Delegation Meeting - AGENDA - Favorable with amendment (23-1) - Voting list on bill - Amendment - Voting list on amendment | |
| Bill moves to the Montgomery County Senate Delegation | |
| Local Action Senate - Montgomery County Delegation: | |
| House Action: | 1/20/21: First Reading Environment and Transportation Committee |
| 2/16/21: Environment and Transportation Committee Public Hearing - 1:30 p.m. | |
| Senate Action: | |
| Action After Passage: | |
