h_lg_2016a_2016-02-24t13:32:00z1 Hearing Summary

Date: 02/24/2016

01:38 PM -- HB16-1149



Representative Melton presented HB16-1149 concerning budget reporting exemptions for homeowners associations (HOAs). Under current law, common interest communities (referred to in the residential context as HOAs) established prior to the 1992 enactment of the Colorado Common Interest Ownership Act (CCOIA) are exempt from certain budget reporting provisions. The bill removes this exemption and requires that the executive boards of HOAs that predate CCOIA: provide a summary of a proposed budget to each unit owner; hold a meeting for unit owners to consider the proposed budget; and continue using the most recent approved budget if there is a veto of the proposed budget by a majority of unit owners. Representative Melton distributed an informational handout (Attachment A), a document of HOA assessments (Attachment B), a letter from East Hatchet Ranch HOA, Inc. (Attachment C), and a letter from an HOA member (Attachment D).



16HouseLocal0224AttachA.pdf 16HouseLocal0224AttachB.pdf



16HouseLocal0224AttachC.pdf 16HouseLocal0224AttachD.pdf



Representative Melton answered questions from the committee regarding the budget submission process.



01:44 PM -- Jennifer Berman, Office of Legislative Legal Services, provided clarification on the bill.



01:47 PM -- Candice Compton, presenting herself, spoke in favor of the bill. She discussed her experience as an HOA resident and expressed her concerns regarding with the budget requirements in current law.



Ms. Compton answered questions from the committee regarding the budget of her HOA.



01:52 PM -- Paula Moore, representing herself, spoke in favor of the bill. She spoke about her experience on HOA executive boards and discussed the budgetary requirements.



01:58 PM -- John Wallace, representing himself, spoke in favor of the bill. He discussed his experience with HOAs and their annual budget process.



02:01 PM -- Noreen Dahl, representing herself, spoke in favor of the bill. She shared her experience with HOAs and discussed budget requirements.



02:05 PM -- Joy McGlawn, representing herself, spoke in favor of the bill.



Representative Melton provided closing comments on the bill.