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Developed and maintained by the Division of Legislative Automated Systems.
2020 SESSION
HB 1548 Common interest communities; termination of condominium, respective interests of unit owners.
Introduced by: Marcus B. Simon | all patrons ... notes | add to my profiles
SUMMARY AS ENACTED WITH GOVERNOR'S RECOMMENDATION: (all summaries)
Common interest communities; Virginia Condominium Act; termination of condominium; respective interests of unit owners. Provides that the respective interests of condominium unit owners upon the termination of a condominium shall be as set forth in the termination agreement, unless the method of determining such respective interests is other than the relative fair market values, in which case the association shall provide each unit owner with a notice stating the result of that method for the unit owner's unit and, no later than 30 days after transmission of that notice, any unit owner disputing the interest to be distributed to his unit may require that the association obtain an independent appraisal of the condominium units. The bill provides a method of adjusting the respective interests of the unit owners if the amount of such independent appraisal of an objecting unit owner's unit is at least 10 percent more than the amount stated in the association's notice.
FULL TEXT
- 01/10/20 House: Presented and ordered printed 20104355D pdf | impact statement
- 02/04/20 House: Committee substitute printed 20107125D-H1 pdf | impact statement
- 02/27/20 Senate: Committee substitute printed 20109106D-S1 pdf | impact statement
- 03/07/20 House: Bill text as passed House and Senate (HB1548ER) pdf | impact statement
- 04/07/20 Governor: Acts of Assembly Chapter text (CHAP0817) pdf
AMENDMENTS
- House subcommittee amendments and substitutes offered
- House subcommittee amendments and substitutes adopted
HISTORY
- 01/10/20 House: Presented and ordered printed 20104355D
- 01/10/20 House: Referred to Committee on General Laws
- 01/15/20 House: Assigned GL sub: Housing/Consumer Protection
- 01/30/20 House: Subcommittee recommends reporting with substitute (6-Y 1-N)
- 02/04/20 House: Committee substitute printed 20107125D-H1
- 02/04/20 House: Reported from General Laws with substitute (18-Y 3-N)
- 02/05/20 House: Read first time
- 02/06/20 House: Read second time
- 02/06/20 House: Committee substitute agreed to 20107125D-H1
- 02/06/20 House: Engrossed by House - committee substitute HB1548H1
- 02/07/20 House: Read third time and passed House (81-Y 18-N)
- 02/07/20 House: VOTE: Passage (81-Y 18-N)
- 02/10/20 Senate: Constitutional reading dispensed
- 02/10/20 Senate: Referred to Committee on General Laws and Technology
- 02/27/20 Senate: Committee substitute printed 20109106D-S1
- 02/27/20 Senate: Reported from General Laws and Technology with substitute (11-Y 0-N 2-A)
- 03/02/20 Senate: Constitutional reading dispensed (39-Y 0-N)
- 03/03/20 Senate: Read third time
- 03/03/20 Senate: Reading of substitute waived
- 03/03/20 Senate: Committee substitute agreed to 20109106D-S1
- 03/03/20 Senate: Engrossed by Senate - committee substitute HB1548S1
- 03/03/20 Senate: Passed Senate with substitute (36-Y 2-N)
- 03/04/20 House: Placed on Calendar
- 03/04/20 House: Senate substitute agreed to by House 20109106D-S1 (76-Y 21-N)
- 03/04/20 House: VOTE: Adoption (76-Y 21-N)
- 03/07/20 House: Enrolled
- 03/07/20 House: Bill text as passed House and Senate (HB1548ER)
- 03/07/20 Senate: Signed by President
- 03/08/20 House: Signed by Speaker
- 03/12/20 House: Enrolled Bill communicated to Governor on March 12, 2020
- 03/12/20 Governor: Governor's Action Deadline 11:59 p.m., April 11, 2020
- 04/07/20 Governor: Approved by Governor-Chapter 817 (effective 7/1/20)
- 04/07/20 Governor: Acts of Assembly Chapter text (CHAP0817)