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2019 SESSION
SB 1538 Common interest communities; dissemination of annual budget, reserve for capital components.
Introduced by: Scott A. Surovell | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Common interest communities; dissemination of annual budget; reserve for capital components. Requires common interest communities under the Condominium Act, the Property Owners' Association Act, and the Virginia Real Estate Cooperative Act (the Acts) to make available to members either the common interest community's annual budget or a summary of the annual budget prior to the beginning of each fiscal year. The bill requires that the five-year cash reserve study required under the Acts include a statement that outlines the amount of the reserves recommended in such study as well as the amount of current cash available for replacement of the reserves. The bill also requires the Common Interest Community Board to prepare guidelines for the development of reserve studies for capital components. This bill is a recommendation of the Virginia Housing Commission. This bill is identical to HB 2030.
FULL TEXT
- 01/08/19 Senate: Prefiled and ordered printed; offered 01/09/19 19101161D pdf | impact statement
- 02/11/19 Senate: Bill text as passed Senate and House (SB1538ER) pdf | impact statement
- 02/19/19 Governor: Acts of Assembly Chapter text (CHAP0044) pdf
HISTORY
- 01/08/19 Senate: Prefiled and ordered printed; offered 01/09/19 19101161D
- 01/08/19 Senate: Referred to Committee on General Laws and Technology
- 01/21/19 Senate: Reported from General Laws and Technology (14-Y 0-N)
- 01/23/19 Senate: Constitutional reading dispensed (39-Y 0-N)
- 01/24/19 Senate: Read second time and engrossed
- 01/25/19 Senate: Read third time and passed Senate (39-Y 0-N)
- 01/25/19 Senate: Reconsideration of passage agreed to by Senate (40-Y 0-N)
- 01/25/19 Senate: Passed Senate (40-Y 0-N)
- 01/29/19 House: Placed on Calendar
- 01/29/19 House: Read first time
- 01/29/19 House: Referred to Committee on General Laws
- 02/05/19 House: Reported from General Laws (21-Y 0-N)
- 02/07/19 House: Read second time
- 02/08/19 House: Read third time
- 02/08/19 House: Passed House BLOCK VOTE (99-Y 0-N)
- 02/08/19 House: VOTE: BLOCK VOTE PASSAGE (99-Y 0-N)
- 02/11/19 Senate: Enrolled
- 02/11/19 Senate: Bill text as passed Senate and House (SB1538ER)
- 02/11/19 Senate: Signed by President
- 02/11/19 House: Signed by Speaker
- 02/12/19 Senate: Enrolled Bill Communicated to Governor on February 12, 2019
- 02/12/19 Governor: Governor's Action Deadline Midnight, February 19, 2019
- 02/19/19 Governor: Approved by Governor-Chapter 44 (effective 7/1/19)
- 02/19/19 Governor: Acts of Assembly Chapter text (CHAP0044)