CS for CS for CS for SB 798 - Summary

• Exempts timeshare projects from annual inspection requirements and certain sanitary regulations applicable to public lodging establishments, while establishing timeshare projects as a new classification requiring licensure.

• Authorizes condominium associations to enter abandoned units (absent 2+ months and owner unreachable) for inspection, repair, and maintenance, with costs chargeable to the owner as an assessment, and allows associations to petition courts to lease abandoned units to offset costs.

• Allows board and committee members to participate in meetings and count toward quorum via videoconferencing or electronic communication, but prohibits voting by email; requires outgoing board members to relinquish records and property within 5 days or face civil penalties.

• Revises cooperative association financial reporting requirements based on revenue levels (compiled, reviewed, or audited statements depending on total annual revenues), allows members to waive reports for up to 3 consecutive years by majority vote, and permits associations to petition members for higher reporting standards.

• Grants emergency powers to condominium and homeowners associations during declared states of emergency, including authority to levy special assessments, borrow funds, conduct meetings with flexible notice, designate assistant officers, and mitigate property damage without member approval.