HOAs; fiscal duties

HB 2277 amends Arizona's condominium association laws by clarifying key financial terms in the declaration documents. It defines terms like "common expense lien" (covering unpaid assessments, late fees, and legal costs), "assessment" (periodic payments for shared expenses), and "common expense liability" (how costs are allocated to units). These changes directly affect homeowners' associations (HOAs) and condominium associations by standardizing how financial responsibilities and liens are documented in their governing documents. The bill does not create new financial obligations but ensures consistent terminology for transparency in HOA fiscal operations. (This is a procedural definitional amendment, not a policy change.)