Colorado requires developer-funded reserve studies for new HOAs and penalizes late management company handoffs

Original title: Protect Financial Condition of Homeowners Associations

Last action · April 13, 2026: Governor SignedSponsors: Kenny Nguyen and 13 others

Bill progressHistory & official text ↓

Introduced

Committee

Floor Vote

Passed

Law

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What This Bill Does

Colorado law requires developers of new planned communities and condominiums to fund a 30-year before handing control to the homeowner association, and penalizes former management companies $250 per business day for failing to transfer records and funds within 45 days.

Why it matters

New community homeowners avoid surprise repair bills by ensuring developers fund long-term maintenance studies upfront, while transitioning associations gain financial protections against uncooperative former management firms.

Who It Affects

Groups the bill's text affects, as described in the record. Being affected is not a position for or against it.

Directly affected

Declarants and Developers

Developers of new planned communities and condominiums must obtain and pay for an independent 30-year reserve study prior to transferring control to the association.

Directly affected

Homeowners Associations

Associations receive guaranteed reserve studies and gain statutory protections, including daily penalties and liability coverage, when transitioning management companies.

Directly affected

Association Management Companies

Management companies must surrender all association property and records within 45 days at no charge or face daily financial penalties and legal liabilities.

Key Facts

You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.

Frequently Asked Questions

Who pays for the mandatory reserve study for a new community?

The (developer) of the new planned community or condominium is required to obtain and pay for the prior to transferring control to the association.

How long do former association management companies have to hand over records?

Former management companies must deliver all association property, records, money, accounts, and information within 45 days of a change in management companies.

What happens if a former management company refuses or delays returning association records?

The company must pay the association $250 for each business day it is late, covers any resulting interest and late fees, and may be liable for plus attorney fees if the violation is found to be willful.

What else do you want to know?

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Where This Stands

Current status: Signed into law.

Procedural history

15 actions

Apr 13, 2026Office of the GovernorEnrolled
Governor Signed
Apr 2, 2026Office of the GovernorEnrolled
Sent to the Governor
Apr 1, 2026HouseFloor
Signed by the Speaker of the House
Apr 1, 2026SenateFloor
Signed by the President of the Senate
Mar 25, 2026SenateFloor
Senate Third Reading Passed - No Amendments
Mar 24, 2026SenateFloor
Senate Second Reading Passed - No Amendments

Show 9 earlier actions

Mar 19, 2026SenateCommittee
Senate Committee on Local Government & Housing Refer Unamended to Senate Committee of the Whole
Mar 3, 2026SenateIntroduced
Introduced In Senate - Assigned to Local Government & Housing
Feb 26, 2026HouseFloor
House Third Reading Passed - No Amendments
Feb 25, 2026House
House Third Reading Laid Over Daily - No Amendments
Feb 24, 2026House
House Committee of the Whole Amendment - Change from Passed to Lost
Feb 24, 2026House
House Second Reading Special Order - Passed with Amendments - Committee
Feb 23, 2026House
House Second Reading Laid Over Daily - No Amendments
Feb 18, 2026HouseCommittee
House Committee on Transportation, Housing & Local Government Refer Amended to House Committee of the Whole
Feb 3, 2026HouseIntroduced
Introduced In House - Assigned to Transportation, Housing & Local Government

Version history

Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.

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