The Davis-Stirling Common Interest Development Act (“Act”) requires common interest developments to annually distribute a budget report, which includes an Assessment and Reserve Funding Disclosure Summary form (“Form”). The specific format and content for the Form are set forth in the Act. 

Assembly Bill 1516 has resulted in two insignificant changes to the Form. The Form currently in use should be updated for any budget reports sent after January 1, 2016. Specifically, Section (7) of the Form should be altered so that the word “funding” is deleted and replaced with “funded” in the two places it is used.

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As part of emergency legislation adopted earlier this year in response to continued drought conditions, an association is prohibited from imposing a fine or assessment against an owner of a separate interest for reducing or eliminating the watering of vegetation or lawns during any period for which the Governor of California declared a state of emergency or a local government declared a local emergency due to drought.

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Section 4750.10 has been added to the Civil Code in order to allow residents to use clotheslines and drying racks, under certain conditions, without fear of disciplinary action by a homeowners association. This statute is one among many statutes related to energy conservation. The new law defines “clothesline” to include “a cord, rope, or wire from which laundered items may be hung to dry or air.” “Drying rack” means “an apparatus from which laundered items may be hung to dry or air.”

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The Consumer Financial Protection Bureau, a federal agency dedicated to protecting consumer in a number of complex types of transactions, including obtaining home mortgages, has issued new federal regulations in what is known as the “Know-Before-You-Owe” rule. One of the more significant impacts is the change to loan documents.

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Any annual budget reports distributed on or after July 1, 2016 on behalf of a condominium association will need to include an additional disclosure related to FHA and VA approvals. This new law does not apply to other forms of homeowners associations.

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