Bill > H0589

This bill amends existing Idaho law to revise provisions regarding disclosures by homeowners' associations and to restrict the charging of transfer fees. The key provisions are: 1. It defines a "transfer fee" as a fee charged by the homeowners' association upon the transfer of an interest in real property under the association's jurisdiction. 2. It requires the homeowners' association to provide a statement of the member's assessment account, including all outstanding assessments, charges, and fees, within 5 business days of a written request, and prohibits the association from charging a fee for providing this statement. 3. It prohibits homeowners' associations from charging a transfer fee unless the authority to do so is expressly stated in the declaration of covenants, conditions, and restrictions, and requires that any such fee be charged only by the association, with no portion going to a third party. 4. It requires the homeowners' association to provide an annual disclosure of fees that will be charged to a member, and specifies that the fees imposed for the following year cannot exceed the amount set forth in the disclosure. The bill also declares an emergency and sets an effective date of July 1, 2024.

Business and Industry

Ways and Means Committee (House)

https://legislature.idaho.gov/sessioninfo/2024/legislation/H0589/