Help Us Defeat SB64
As many of you may know, the 2013 General Session of the Utah Legislature is in full swing on Capitol Hill. A few bills enacting or amending HOA laws are in the works and we will keep you updated on those as they come to the forefront.
One such bill THAT REQUIRES YOUR IMMEDIATE ATTENTION IS SB 64, CAI’s Utah Legislative Action Committee (www.utahlac.com) issued a position statement today aggressively OPPOSING it. SB 64 amends the reserve funding requirements of Utah Code Sections 57-8-7.5 and 57-8a-211 and, if passed, will require an association to begin funding the reserve fund in the manner and amount determined by the vote of the owners within 90 days after the vote, and to file a certificate of compliance with the Department of Commerce within 30 days of starting to fund a reserve fund. It also requires that if an association does not file a certificate of compliance within the required 30 days, the association may not levy a special assessment until it files a certificate of compliance. View SB 64 here. View the position statement here.
FCS Community Management CEO & President Michael Johnson has worked with industry representatives (homeowners, board members, community managers, association attorneys, and other industry partners) for almost a decade to pass legislation that benefits the homeowners living in Utah’s over 3,000 associations. This group works for months at a time, with other interested statekholders (realtors, HBA, insurance, etc.), on each piece of legislation to ensure the legislation is vetted properly. While FCS has long lead the way in promoting reserve studies and reserve savings, SB 64 is the product of a single person who moonlights as a reserve study provider, and this bill will harm efforts at building reserves, not help. Additionally, it unintentionally harms other methods of association governance. It was intentionally not vetted through the established industry legislative group. ULAC worked for the past two weeks attempting to agree to common objectives and to improve SB 64 so we wouldn’t have to oppose the bill. Unfortunately all efforts have failed and thus our opposition is made public today.
Please contact your state senator and your state representative today to voice your opposition. Follow this link to identify who they are and contact them: http://le.utah.gov/GIS/findDistrict.jsp.