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HB18-1342

Allow Pre-Colorado Common Interest Ownership Act Homeowners' Association Members to Veto Homeowners' Association Budget

Concerning a requirement that a common interest community created in Colorado before July 1, 1992, comply with a provision of the "Colorado Common Interest Ownership Act" that allows a majority of the unit owners in a common interest community to veto a budget proposed by the executive board of the common interest community.
Session:
2018 Regular Session
Subject:
Housing
Bill Summary

Common interest communities created before the July 1, 1992, enactment of the 'Colorado Common Interest Ownership Act' (Act) are exempt from many of the Act's provisions, including a provision allowing a majority of the unit owners in a common interest community to veto a budget proposed by the common interest community's executive board. The bill requires a common interest community that predates the Act to allow its unit owners to veto, by majority vote, a budget proposed by the common interest community's executive board; except that the bill does not apply to a common interest community that predates the Act if the common interest community's declaration sets a maximum assessment amount or provides a limit on the amount that the common interest community's annual budget may be increased.


(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

Status

Introduced
Passed
Became Law

Bill Text

  • All Versions (7 )
    Date Bill Type Documents
    06/06/2018 Signed Act PDF
    05/14/2018 Final Act PDF
    05/01/2018 Rerevised PDF
    04/30/2018 Revised PDF
    04/20/2018 Reengrossed PDF
    04/18/2018 Engrossed PDF
    03/26/2018 Introduced PDF