TO AMEND THE HORIZONTAL PROPERTY ACT; TO REGULATE PROPERTY OWNERS ASSOCIATIONS; AND TO REQUIRE AN AUDIT FOR CERTAIN PROPERTY OWNERS ASSOCIATIONS.

HB 1660 aimed to amend the Horizontal Property Act to regulate certain property owners associations (POAs) in Arkansas. It defined POAs as incorporated nonprofits with at least 1,000 members whose lot owners are automatically members and pay for shared services, including those traditionally provided by local governments like road or water maintenance. The bill mandated that all financial records of a POA be available for examination by co-owners. Additionally, it allowed for POAs that provide local government-like services to be subject to review by Arkansas Legislative Audit, pending approval from the Legislative Joint Auditing Committee.