GA HB1308

Requires declarants, developers, or establishing entities to create a two-year operating and expense budget for amenity construction and maintenance, verified by a licensed real estate appraiser, including a fully funded reserve account for items exceeding $10,000 managed by an independent CPA and held in trust until turnover

Mandates developers post a performance bond equal to 125% of amenity construction costs and a maintenance bond for at least 24 months with the local governing authority before conveying the first property; amenities must be complete within two years of inception or the performance bond is forfeited

Establishes detailed turnover and transition requirements, including delivery of governing documents, audited financial records, construction plans, warranties, insurance policies, contracts, and a professional inspection report within 90 days of transition to the community association, all at the developer's expense

Grants non-developer association members the right to elect at least one board member when 50% of parcels are conveyed and a board majority when 90% are conveyed, or upon triggering events such as developer bankruptcy, foreclosure, abandonment (presumed after two years of unpaid assessments), or receivership

Creates a civil cause of action for community associations in superior court with penalties of $500 to $5,000 per violation plus recoverable litigation costs and attorney's fees; effective January 1, 2025, applying to all property on plats first filed on or after that date