Bill > AB129

This bill modifies bidding procedures for homeowners' associations (HOAs) by requiring associations to solicit at least three bids for projects that cost a significant portion of their annual budget - specifically 3% for communities under 1,000 units and 1% for communities with 1,000 or more units. The bill introduces an important exception to this bidding requirement: if delaying the project could potentially cause property damage or create a safety risk, the HOA is not required to solicit multiple bids. Additionally, the bill mandates that HOAs must award the contract to the lowest responsive bidder, ensuring cost-effectiveness. The definition of an "association project" is broad, encompassing maintenance, repair, replacement, restoration of common elements, and professional services like accounting, engineering, and legal services. These bids must be opened and read aloud during an executive board meeting, promoting transparency in the bidding process. The changes aim to balance fiscal responsibility with the need for timely project completion, particularly in situations where immediate action might be necessary to prevent damage or mitigate safety concerns.

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https://www.leg.state.nv.us/App/NELIS/REL/83rd2025/Bill/12048/Overview