condominiums; planned communities; assessments

SB 1500 limits annual fee increases for condo and planned community associations in Arizona. For condos (Section 33-1242), associations cannot raise regular fees by more than 3% without 67% owner approval, and must provide itemized budget details, year-over-year expense comparisons, and cost breakdowns for any increase. For planned communities (Section 33-1803), the cap is 23% with the same disclosure requirements. The bill directly affects all unit owners by requiring associations to justify fee hikes transparently before approval. It aims to prevent vague fee increases and ensure owners understand financial decisions impacting their dues.