ON MARCH 7, 2024, THE SENATE ADOPTED AMENDMENT #1 AND PASSED SENATE BILL 2150, AS AMENDED.
AMENDMENT #1 rewrites the bill to add to the law regarding homeowners' associations, as follows:
(1) This amendment requires a homeowners' association seeking to levy a special assessment on its members for a nonessential amenity to (i) pass the assessment by at least a two-thirds majority vote of the total members in the homeowners' association; and (ii) provide members with financing or a payment plan over a defined period of time. As used in this amendment, a "nonessential amenity" means an amenity that is not essential to the daily regular operation of the community, including a pool, tennis court, or club house and does not include: (i) a road, utility, or other amenity that is necessary to the daily regular operation of a community; or (ii) an amenity described in the declaration but not yet built;
(2) This amendment provides that if a member of the homeowners' association fails to pay a special assessment for a nonessential amenity, then this amendment prohibits the homeowners' association from taking a foreclosure action against the property or the member for failure to pay the special assessment; and
(3) This amendment revises the present law that provides that the law regarding multiple ownership of property relevant to homeowners' associations applies to declaration amendments that are enacted on or after May 1, 2021. This amendment clarifies that such present law is not applicable to the provisions in this amendment.

Statutes affected:
Introduced: 66-27-704(b), 66-27-704
Amended with SA0575 -- 03/07/2024: 66-27-704(b), 66-27-704, 66-27-701, 66-27-705