S.B. 799 - Condominiums Summary

• Excludes units in time share projects from the definition of "residential unit" under condominium law, making owner-occupant sale requirements inapplicable to time share units.

• Increases the minimum percentage of residential units that must be offered to prospective owner-occupants during the initial 30-day sales period from 50% to 90%.

• Requires this 90% owner-occupant offering to be stated in advertisements and announcements published in newspapers with general circulation in the county where the project is located.

• Applies the increased 90% owner-occupant requirement to all condominium projects, including conversions of existing structures, though current occupants of converted units have first right to purchase.

• Takes effect on December 1, 2050.