Bills / H.B. 306

H.B. 306 Reinvestment Fee Amendments

Became lawWritten by Rep. Ariel Defay · carried in the Senate by Sen. Kirk A. Cullimore

  1. Introduced
  2. House committee
  3. House vote
  4. Senate committee
  5. Senate vote
  6. Signed into law

What this bill does

The bill caps HOA reinvestment fees charged when a home is bought, sold, or transferred: 0.5% for HOAs with larger amenities and 0.25% for low-amenity single-family HOAs. It requires at least half the fee to go into reserve accounts and requires HOAs to report fee information to the Department of Commerce registry.

Plain-English summary written by AI from the sponsor’s presentation in committee and on the floor. Check the official text below.

Official description
  • defines terms
  • amends the expenses for which a homeowners' association may use a reinvestment fee
  • amends the amount of a reinvestment fee that a homeowners' association may impose
  • requires that a homeowners' association deposit 50% of a reinvestment fee into reserve funds
  • provides that when a homeowners' association registers with the Department of Commerce, the homeowners' association shall provide certain information relating to a reinvestment fee or a transfer fee
  • makes technical changes
Full text and history on le.utah.gov →
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