Connecticut 2021 Regular Session

Connecticut Senate Bill SB00507

Introduced
1/27/21  

Caption

An Act Concerning Transparency Of Condominium Boards.

Impact

If enacted, SB00507 will significantly amend existing statutes governing condominium board operations. This change would require greater accountability from board members, providing transparency into monetary transactions that affect the community. As a result, residents will have improved access to information that could influence individual and collective decision-making processes regarding condominium management and services.

Summary

SB00507, also known as 'An Act Concerning Transparency Of Condominium Boards,' seeks to enhance transparency in condominium management by mandating boards of directors of owner-occupied condominium complexes to disclose any payments made to owners or contractors who reside within the community. The bill aims to address concerns regarding financial dealings and ensure that residents remain informed about the fiscal operations of their condominium boards.

Contention

The primary points of contention surrounding SB00507 relate to the balance between transparency and privacy. Proponents of the bill argue that it promotes accountability and ethical behavior within condominium boards, safeguarding residents' interests. Conversely, opponents might express concerns about potential repercussions for board members and contractors regarding disclosure of sensitive financial information, fearing that such transparency could lead to conflicts and affect the willingness of residents to serve on boards.

Companion Bills

No companion bills found.

Previously Filed As

CT SB00143

An Act Concerning Evictions For Cause.

CT SB00241

An Act Concerning The Office Of Health Strategy's Recommendations Regarding 340b Program Transparency.

CT SB00006

An Act Concerning Housing.

CT SB00278

An Act Concerning Transparency Related To Federal Funds Received By The Department Of Transportation For Capital Projects.

CT SB00405

An Act Concerning Downcoding Of Health Insurance Claims.

CT SB00150

An Act Concerning Community Investment Boards And Neighborhood Assistance.

CT HB05376

An Act Concerning Home Improvement Contractors And Salespersons.

CT HB05516

An Act Concerning A Municipal Option For A Homestead Property Tax Exemption.

CT SB00389

An Act Concerning The State Contracting Standards Board And State Procurement.

CT HB05152

An Act Concerning Renters In Common Interest Ownership Communities.

Similar Bills

No similar bills found.