This bill seeks to improve transparency and understanding for members of condominium and homeowners associations in Minnesota by requiring plain-language explanations of relevant laws and governing documents. It mandates that newly elected or reelected board members review a plain-language guide to better assist unit owners in understanding their rights and responsibilities. The bill also appropriates $200,000 from the general fund to the Minnesota Homeownership Center for the creation of a comprehensive guide that explains the laws governing common interest communities and homeowners associations.

Key amendments to the Minnesota Statutes include the requirement for a plain-language explanation of applicable laws and governing documents in disclosure statements provided to potential buyers. Additionally, the bill requires declarants to promptly amend disclosure statements to reflect any material changes and specifies that master associations must provide necessary information within ten days of a request. The effective date for these changes is set for August 1, 2026, and the guide must be made available to the public at no cost by July 30, 2026. These measures aim to enhance accessibility and understanding of important information related to homeownership and governance within these communities.

Statutes affected:
Introduction: 515B.4