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. Additionally, for expenses that benefit both types of structures, the costs will be allocated proportionally based on the category of the structures benefitted. The bill also introduces definitions for "common expenses," "commercial structure," and "residential structure," clarifying the terms used in the context of condominium management.

Furthermore, the bill amends existing statutes to ensure that the allocation of common expenses is transparent and accessible to unit owners, particularly in disputes over expense allocation. It stipulates that the condominium association must provide relevant records related to the allocation of common expenses and that any changes to the allocation method after the period of declarant control requires unanimous approval from unit owners. These updates aim to enhance fairness and clarity in the financial responsibilities of condominium owners.

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