Bill > HB968

This bill exempts condominiums in which the council of unit owners votes to fund repairs to the common elements through a special assessment by an affirmative vote of at least 80% of the unit owners from provisions of law pertaining to reserve studies. It also provides exemptions for certain homeowners associations, such as those with 50 or fewer homes or only single-family homes on lots that cannot be subdivided, from the requirement to conduct reserve studies. The bill specifies the timeline and requirements for when and how reserve studies must be conducted for condominiums and homeowners associations in different counties in Maryland.

Transportation and Infrastructure

https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB0968?ys=2024RS