SB740:

Common interest communities; standards for structural integrity and reserves for capital components.

Bill Summary:

Department of Professional and Occupational Regulation; common interest communities; standards for structural integrity and reserves for capital components; work group; report. Directs the Department of Professional and Occupational Regulation (the Department) to establish a work group to study the adequacy of current laws addressing standards for structural integrity and for maintaining reserves to repair, replace, or restore capital components in common interest communities. The bill directs the Department to report the work group's findings and provide recommendations, including any legislative recommendations, to the Chairs of the House Committee on General Laws and the Senate Committee on General Laws and Technology no later than April 1, 2023.