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Bill > H1387


MA H1387

Relative to adequate condominium reserve funds


summary

Introduced
03/29/2021
In Committee
03/29/2021
Crossed Over
Passed
Dead
12/31/2022

Introduced Session

192nd General Court

Bill Summary

Relative to the reserve funds of condominiums. Housing.

AI Summary

This bill amends the General Laws of Massachusetts to define an "adequate replacement reserve fund" for condominiums as a reserve fund requirement determined by a periodic reserve fund study conducted by a certified engineering firm. The bill also requires condominium organizations to develop appropriate funding plans to meet the needs outlined in such a study.

Committee Categories

Housing and Urban Affairs

Sponsors (1)

Last Action

Accompanied a study order, see H5271 (on 09/19/2022)

bill text


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