Bill > HB2354

This bill makes several changes to laws governing common interest communities, which are developments where individual ownership of units is combined with shared ownership of common areas. Key provisions include clarifying that governing documents cannot override certain rights and obligations established by state law, and allowing for variations in specific sections as detailed within the law. The bill also updates regulations regarding the installation and use of electric vehicle charging stations and heat pumps, ensuring associations cannot unreasonably restrict them while allowing for reasonable regulations and requiring unit owners to cover associated costs and liabilities. Additionally, it modifies the applicability of certain laws to smaller common interest communities, specifically those with 50 or fewer units or those consisting of middle housing (a type of housing that can include duplexes, triplexes, and townhouses) with a limited annual assessment, and revises the financial reporting requirements for associations, increasing the threshold for mandatory annual audits by a certified public accountant from $50,000 to $100,000 in annual assessments. Finally, it clarifies that certain dollar amounts in the law, such as those related to assessments and financial reporting, will be adjusted annually based on changes in the consumer price index to account for inflation.