CT HB07027

Condominium developers may withdraw escrow deposits exceeding 1% of the purchase price for construction costs once building has commenced, but only when the purchaser is an accredited investor and the contract explicitly permits this use

"Actual costs" eligible for escrow fund use include demolition, site clearing, permits, architectural/engineering fees, and construction expenses, but explicitly exclude sales, marketing, and advertising costs

Landlords must provide tenants with a copy of their account ledger upon request, showing all charges assessed, payments made, and any balance owed or overpaid

A working group is established to develop a uniform statutory definition of "affordable housing," with the first meeting required within 60 days and a report due by January 1, 2026

Sections 1-3 take effect July 1, 2025; the working group and technical correction to Public Act 25-52 are effective upon passage