MD SB464

Condominium boards of directors may increase total assessments for common expenses (excluding reserves) by up to 5% annually without unit owner approval

The 5% cap applies regardless of any restrictions in the condominium's declaration, articles of incorporation, or bylaws that would otherwise require council of unit owners to approve assessment amounts

Boards retain existing authority to increase reserve funding assessments as required under § 11–109.4 without being subject to governing document restrictions

Effective date: October 1, 2025