AN ACT RELATING TO PROPERTY -- CONDOMINIUM LAW

SB 2702 requires condominium associations to charge a lower fee when updating a resale certificate after the initial certificate has been issued. This directly affects condo associations (which manage community fees) and condo sellers/buyers (who need updated resale certificates to sell units). The key change is setting a reduced fee for these subsequent updates, rather than the standard rate. This policy aims to lower costs for homeowners during property sales without altering the initial certificate process. The bill is currently pending in the Senate Housing and Municipal Government committee.