MT HB232

Homeowners' associations with more than 10 parcels must produce an annual budget report by fiscal year-end showing estimated revenue, expenses, and itemized costs, plus a financial report within 30 days after fiscal year-end detailing revenue and expenditures of at least $50 annually and ending fund balances.

Annual fee increases are capped at 15% or $100 (whichever is greater) and limited to once per year, requiring majority written approval from property owners; increases exceeding 15% or occurring more than once annually require 3/5 written approval.

Budget and financial reports must be sent by both mail and email to all property owners within 15 days of the required production date.

Homeowners' associations with 10 or fewer parcels are exempt from both the reporting requirements and fee increase restrictions.

Amends MCA sections 35-2-114 and 35-2-525 to expand the definition of "homeowners' association" from corporations to any organization meeting the specified criteria.