This bill proposes several updates to the current statutes regarding the assessment of common expenses in condominiums that include both commercial and residential structures. Under the new provisions, any common expense that exclusively benefits either the residential or commercial structures must be assessed solely against the respective units. If a common expense benefits both types of structures, it will be allocated proportionally based on the category of the structures benefitted. Additionally, the bill introduces definitions for "common expenses," "commercial structure," and "residential structure," clarifying the terms used in the context of condominium management.

The bill also amends existing statutes to ensure that the allocation of common expenses is transparent and accessible to unit owners, requiring associations to provide records related to expense allocations. Furthermore, it stipulates that any changes to the allocation of common expenses after the period of declarant control must be approved unanimously by unit owners. These updates aim to enhance fairness and clarity in the financial responsibilities of condominium owners, particularly in mixed-use developments.

Statutes affected:
Introduced Version: 33-1255
House Engrossed Version: 33-1255
Chaptered Version: 33-1202, 33-1217, 33-1255, 33-1241, 33-1246, 33-1243, 33-1212, 6-801, 33-741, 33-1242