MN SF5447

Creates a working group to study the prevalence, impact, and regulation of common interest communities (CICs) and homeowners associations (HOAs) in Minnesota and their effect on safe and affordable housing.

Working group shall examine the number of CICs and HOAs, their governing documents, fee structures, participation barriers, impacts on housing affordability, racial disparities in homeownership, accessibility for people with disabilities, and regulatory practices in other states.

Membership consists of 24 members including legislators, representatives from real estate and legal aid organizations, attorneys, housing finance officials, metropolitan area government representatives, current/former HOA board members, and current or recent homeowners in CICs or HOAs.

Legislative Coordinating Commission shall facilitate the working group and convene the first meeting by July 15, 2024, with meetings subject to Minnesota Open Meeting Law.

Working group shall submit a final report by February 1, 2025, with recommendations and draft legislation to legislative committees with jurisdiction over housing finance, commerce, and real property; working group expires February 28, 2025.