GOVERNOR'S VETO

Pursuant to § 6 of Article V of the Constitution of Virginia, I am vetoing House Bill 506.

The Common Interest Community Management Information Fund was created through an annual filing fee to be imposed on all condominium associations, proprietary lessee's associations (cooperatives) and property owners associations.

There are countless such associations in the Commonwealth, most of which are unincorporated and unidentified.

There are no sanctions for non-compliance of the filing fee. The fund currently has a balance of approximately $130,000.

The stated goal of the fund is to "promote the improvement and more efficient operation of common interest communities through research and education." Only one training seminar was held that being in 1995. Only 99 people attended at a cost of $10,000.

I see no purpose in further expanding this questionable fund without more evidence that it has some value to those required by law to contribute to its activities.

Accordingly, I am disapproving of this bill.