This bill aims to amend existing laws regarding homeowner's associations in Idaho, addressing the rapid population growth and the corresponding increase in residential developments. It introduces new definitions for terms such as "Declarant" and "Declaration," while revising existing definitions to clarify the roles and responsibilities within homeowner's associations. Notably, it establishes a new section that outlines a period of declarant control, detailing how board members can be appointed and the transition of control to homeowners once a certain percentage of lots are sold. Additionally, it sets forth restrictions on board membership and the use of proxy votes, ensuring that only one owner per lot can serve on the board concurrently and limiting the number of proxies one individual can hold.

The bill also revises the requirements for financial disclosures and fee disclosures by homeowner's associations. It mandates that associations provide members with timely statements of their assessment accounts and prohibits charging fees for these statements. Furthermore, it stipulates that transfer fees can only be charged if explicitly stated in the governing documents and cannot benefit third parties. The bill emphasizes transparency and accountability in financial dealings, requiring annual disclosures of fees and updated financial reports to members. An emergency clause is included, making the act effective on July 1, 2025.

Statutes affected:
Bill Text: 55-3203, 55-3205