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Remove Budget Reporting Exemption HOAs Predate Act

Concerning a requirement that the executive board of a common interest community created in Colorado before July 1, 1992, comply with the budget reporting provision of the "Colorado Common Interest Ownership Act".

HB16-1149 2016 Regular Session Not stated Housing

Cost estimates

At the first note read
No state fiscal impact
FACT February 16, 2016
At the last note read
No state fiscal impact
FACT June 16, 2016
What it actually cost
not published
No Colorado source reports spending for one bill

Every figure here is an estimate by Legislative Council Staff on the date shown, about the version of the bill in front of them that day. It is not a cost.

Bill summary

Common interest communities created before the July 1, 1992, enactment of the 'Colorado Common Interest Ownership Act' (Act) are exempt from many of the Act's provisions, including a provision that requires a common interest community's executive board to give notice to all unit owners of, and hold a meeting about, the executive board's adoption of a new proposed budget and that allows a majority of the unit owners to veto the board's proposed budget. Commencing July 1, 2018, common interest communities that predate the Act must comply with the budget reporting provision, but remain exempted from the majority veto provision.

Cooperatives created on or after July 1, 1992, but before July 1, 1998, that have no more than ten units and are not subject to development rights may impose annual average common expense fees on unit owners in an amount not to exceed $400, which amount will be adjusted annually according to the consumer price index for the Denver-Boulder metropolitan area.

FACT Bill summary by Colorado Legislative Council Staff, read 2026-09-23. Printed as published, word for word. Source: leg.colorado.gov (opens in a new tab)