This bill aims to amend existing laws regarding homeowner's associations in Idaho, addressing the growing need for regulation due to rapid population growth and increased residential developments. Key provisions include the introduction of new definitions for terms such as "Declarant" and "Declaration," which clarify the roles and responsibilities within homeowner's associations. The bill 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 introduces restrictions on board membership and proxy voting, ensuring that only one owner per lot can serve on the board concurrently and limiting the number of proxies one individual can hold.

Furthermore, the bill 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. The bill also stipulates that transfer fees can only be charged if explicitly stated in the governing documents and cannot benefit third parties. The legislation is set to take effect on July 1, 2025, and includes provisions for compliance and enforcement, allowing adversely affected owners to seek injunctive relief if necessary.

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