Common interest communities; dissemination of annual budget, reserve for capital components. (SB1538)

Introduced By

Sen. Scott Surovell (D-Mount Vernon)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

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. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
01/08/2019Prefiled and ordered printed; offered 01/09/19 19101161D
01/08/2019Referred to Committee on General Laws and Technology
01/14/2019Impact statement from DPB (SB1538)
01/21/2019Reported from General Laws and Technology (14-Y 0-N) (see vote tally)
01/23/2019Constitutional reading dispensed (39-Y 0-N) (see vote tally)
01/24/2019Read second time and engrossed
01/25/2019Read third time and passed Senate (39-Y 0-N) (see vote tally)
01/25/2019Reconsideration of passage agreed to by Senate (40-Y 0-N) (see vote tally)
01/25/2019Passed Senate (40-Y 0-N) (see vote tally)
01/29/2019Placed on Calendar
01/29/2019Read first time
01/29/2019Referred to Committee on General Laws
02/05/2019Reported from General Laws (21-Y 0-N) (see vote tally)
02/07/2019Read second time
02/08/2019Read third time
02/08/2019Passed House BLOCK VOTE (99-Y 0-N)
02/08/2019VOTE: BLOCK VOTE PASSAGE (99-Y 0-N) (see vote tally)
02/11/2019Enrolled
02/11/2019Bill text as passed Senate and House (SB1538ER)
02/11/2019Impact statement from DPB (SB1538ER)
02/11/2019Signed by President
02/11/2019Signed by Speaker
02/12/2019G Governor's Action Deadline Midnight, February 18, 2019
02/12/2019Enrolled Bill Communicated to Governor on February 12, 2019
02/12/2019G Governor's Action Deadline Midnight, February 19, 2019
02/19/2019G Approved by Governor-Chapter 44 (effective 7/1/19)
02/19/2019G Acts of Assembly Chapter text (CHAP0044)