MD SB1011 | 2025 | Regular Session

Status

Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 12 2025 - 25% progression
Action: 2025-02-12 - First Reading Senate Rules
Pending: Senate Rules Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Establishing the Insufficient Condominium Reserve Account Grant Fund to provide grants to low-income condominium owners who live in condominiums with insufficient reserve accounts to enable a low-income unit owner to pay increased assessments necessary for a condominium association to meet reserve account funding requirements; requiring that the Fund prioritize low-income adults aged 65 years or older; and requiring low-income unit owners who received grants to make a certain report regarding the reserve account balance by December 31 annually.

Tracking Information

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Title

Real Property - Insufficient Condominium Reserve Account Grant Fund - Establishment

Sponsors


History

DateChamberAction
2025-02-12SenateFirst Reading Senate Rules

Same As/Similar To

HB1411 (Crossfiled) 2025-02-07 - Hearing 3/04 at 1:00 p.m.

Subjects


Code Citations

ChapterArticleSectionCitation TypeStatute Text
Real Property11144(n/a)See Bill Text
State Finance and Procurement6226(n/a)See Bill Text

Maryland State Sources


Bill Comments

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