MN HF4220

Amends Minnesota Statutes section 515B.3-114 to expand allowable uses of reserve funds for common interest communities (condos, HOAs) to include sustainable energy saving technology and meeting statutory energy performance standards

Requires annual reserve budgets to evaluate sustainable energy saving alternatives and reflect statutory changes in energy performance standards over the reserve planning period

Reserve fund calculations must be based on estimated remaining useful life of each component, with reserves not required for components with useful life exceeding 30 years

Exempts nonresidential common interest communities from these reserve requirements

Applies to common interest communities for fiscal years commencing before January 1, 2012