Connecticut House Bill HB05828

Connecticut 2023 Regular Session

• Introduced: 1/18/23
• Refer: 1/18/23

Caption

An Act Exempting Certain Unit Owners' Associations From Certain Business Filing Fees Assessed By The Secretary Of The State.

Impact

The implementation of HB 05828 could significantly affect the operational dynamics of smaller unit owners' associations. By reducing the cost associated with business filing fees, these associations may be better positioned to allocate funds toward maintenance, community activities, or other essential services. This change could lead to improved financial management and potentially enhance the living conditions within smaller communities, as less funding would be diverted towards administrative costs that do not directly benefit residents.

Summary

House Bill 05828 is designed to provide financial relief to certain unit owners' associations by exempting them from specific business filing fees mandated by the Secretary of the State. This bill specifically targets common interest ownership communities that consist of fewer than fifty units, allowing these smaller associations to avoid the financial burden associated with annual reports and interim changes of officers. The proposal reflects an effort to alleviate administrative costs for smaller associations, which may often operate on tighter budgets than larger entities.

Contention

There may be points of contention surrounding HB 05828, particularly regarding its implications for state revenue. Critics might argue that exempting these associations from filing fees could set a precedent that encourages similar legislation for other types of organizations, thereby impacting the state’s budget. Additionally, questions may arise about the administrative capacity of the Secretary of the State’s office to manage the implications of such exemptions, and whether the relief provided would be significant enough to justify potential revenue loss.