HB 1099 CO

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Became Law

The act requires the declarant of a new planned community or condominium, prior to transfer of control from the declarant to the association of a planned community or condominium, to obtain and pay for a reserve study for the planned community or condominium. The study must estimate the projected costs of maintaining, repairing, or replacing the common elements or property of the planned community or condominium over a 30-year period. The reserve study must be conducted by an independent reserve study professional or other qualified professional with knowledge of industry standards and that has no business relationship with or financial interest in the declarant and is not a affiliate of the declarant.     When an association, other than a self-managed association, changes association management companies, the former association management company shall, within 45 days, deliver to the new association management company or the association, at no charge to the association, all association property, records, money, accounts, information, and other items or information specified in the act (property and records).     Unless otherwise agreed in writing, the former association management company shall pay the association $250 for each business day that it fails to timely return the association's property and records and is liable for all interest and late fees on late payments made by the association due to the former association management company's failure to turn over the property and records, as well as any other damages incurred by the association. In a civil action to recover the property and records or the payments owed to the association for the former association management company's failure to turn over the property and records, if the court finds that the former association management company's violation was willful, the former association management company shall be liable for treble the association's actual damages, plus reasonable attorney fees and court costs.(Note: This summary applies to this bill as enacted.)

• K. Nguyen Democratic · sponsor
• B. Titone Democratic · sponsor
• C. Kolker Democratic · sponsor
• J. Marchman Democratic · sponsor

1. Apr 13, 2026 Governor Signed · executive
2. Apr 2, 2026 Sent to the Governor · executive
3. Apr 1, 2026 Signed by the President of the Senate · upper
4. Apr 1, 2026 Signed by the Speaker of the House · lower
5. Mar 25, 2026 Senate Third Reading Passed - No Amendments · upper
6. Mar 24, 2026 Senate Second Reading Passed - No Amendments · upper
7. Mar 19, 2026 Senate Committee on Local Government & Housing Refer Unamended to Senate Committee of the Whole · upper
8. Mar 3, 2026 Introduced In Senate - Assigned to Local Government & Housing · upper
9. Feb 26, 2026 House Third Reading Passed - No Amendments · lower
10. Feb 25, 2026 House Third Reading Laid Over Daily - No Amendments · lower
11. Feb 24, 2026 House Second Reading Special Order - Passed with Amendments - Committee · lower
12. Feb 24, 2026 House Committee of the Whole Amendment - Change from Passed to Lost · lower
13. Feb 23, 2026 House Second Reading Laid Over Daily - No Amendments · lower
14. Feb 18, 2026 House Committee on Transportation, Housing & Local Government Refer Amended to House Committee of the Whole · lower
15. Feb 3, 2026 Introduced In House - Assigned to Transportation, Housing & Local Government · lower