This bill proposes significant updates to the current statutes regarding the allocation of common expenses in condominiums that include both commercial and residential structures. Under the new provisions, any common expense that exclusively benefits either the commercial or residential structures must be assessed solely against the respective units in those structures. Additionally, expenses that benefit both types of structures will be allocated proportionally based on the benefit received. The bill also clarifies that in disputes over expense allocation, the condominium association must provide all relevant records and cannot withhold them due to ongoing litigation.

Furthermore, the bill introduces definitions for "commercial structure" and "residential structure," ensuring clarity in the application of these rules. It also stipulates that any changes to the allocation of common expenses after the period of declarant control must be approved unanimously by unit owners. The updated statute will apply to all condominiums existing on or after the effective date of the act, thereby modernizing the legal framework governing these mixed-use properties.

Statutes affected:
Introduced Version: 33-1255
House Engrossed Version: 33-1255