RI H7853

Condominium association boards proposing annual budgets with fee increases exceeding 50% of the prior year must simultaneously propose a substitute budget excluding discretionary expenditures, with unit owners able to adopt the substitute by majority vote at a meeting requiring 14 days advance notice.

Owners of deed-restricted units or those declaring financial hardship via notarized self-attestation must be offered monthly payment plans for special assessments at no additional charge, with payments not exceeding 1/12 of the total assessment.

Executive boards established after June 30, 2027 in associations with deed-restricted units must have proportional representation between deed-restricted and market-rate unit owners.

All condominium associations must register with the Executive Office of Housing by December 31, 2027 and submit annual budgets, board lists, financial documents, bylaws, and election dates within 30 days of adoption or amendment.

The Executive Office of Housing must develop an informational brochure for prospective buyers that sellers must provide, maintain a central depository of association information, and employ personnel to investigate complaints and provide mediation services before disputes proceed to legal action.