Committee/Subcommittee Amendment No. 7 to PCS for CS/HB 1203 (2024)

Summary

Committee/subcommittee amendment, Amendment No. 7, offered by Representative Esposito at the Commerce Committee hearing on PCS for CS/HB 1203 (2024). The inserted text limits the board's authority over assessments, notwithstanding more restrictive limitations in the governing documents. The board may not impose a regular assessment, excluding an assessment for the association's insurance policy premium, above a stated percentage increase over the preceding fiscal year's regular assessment. Special assessments that in the aggregate exceed a stated percentage of the budgeted gross expenses require approval of a stated percentage of voting members at a member meeting.

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Cite this document

“Committee/Subcommittee Amendment No. 7 to PCS for CS/HB 1203 (2024).” Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/2024-3220-commerce-committee-proposed-committee-bill-amendments-fn-pcs-69d9ad0eff/, SHA-256 e273491bc20e51c7d54e717f8ea1a0db4541f9b34c181986e69e9314d9925c9a.

Full text

                                           COMMITTEE/SUBCOMMITTEE AMENDMENT
                                      Bill No. PCS for CS/HB 1203     (2024)
       Amendment No. 7




            COMMITTEE/SUBCOMMITTEE ACTION
       ADOPTED                      (Y/N)
       ADOPTED AS AMENDED           (Y/N)
       ADOPTED W/O OBJECTION        (Y/N)
       FAILED TO ADOPT              (Y/N)
       WITHDRAWN                    (Y/N)
       OTHER


 1     Committee/Subcommittee hearing bill:      Commerce Committee
 2     Representative Esposito offered the following:
 3
 4          Amendment
 5          Remove lines 940-949 and insert:
 6          (b)    Notwithstanding more restrictive limitations placed on
 7     the board by the governing documents and paragraph (c), the
 8     board may not impose a regular assessment, excluding an
 9     assessment for the association’s insurance policy premium, that
10     is more than 10 percent greater than the regular assessment for
11     the association's preceding fiscal year or impose special
12     assessments that in the aggregate exceed 5 percent of the
13     budgeted gross expenses of the association for that fiscal year
14     without the approval of 60 percent of voting members at a member
15     meeting.


     PCS for CSHB 1203 a7
      Published On: 2/14/2024 9:10:29 PM
                                   Page 1 of 1

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