Sign Up
HB 7068 Connecticut House · 2025 Regular Session

AN ACT CONCERNING COURT-ORDERED ACCOUNTINGS OF COMMON INTEREST COMMUNITY FINANCIAL RECORDS AND REVISING THE DISCLOSURE REQUIREMENTS RELATING TO COMMON INTEREST COMMUNITIES.

HB 7068 allows at least 10% of unit owners in a common interest community (like an HOA) to petition a court for an independent financial audit if they meet specific conditions: they must certify a good faith belief of financial misconduct, obtain a CPA's written opinion identifying evidence of fraud or misuse, hold 10% of relevant voting proxies, and confirm no audit occurred in the past year. The petitioning group covers all audit costs. The bill also updates property disclosure forms to require clearer information about community dues, special districts, and litigation related to common interest communities, emphasizing that buyers in larger communities must obtain a "resale certificate" from the association. This directly affects HOA members seeking financial transparency and homebuyers in communities with shared governance structures.
Bill status in committee 1 of 4 stages cleared
Introduction
Feb 2025
Committee Review
Floor Vote
Governor
Introduced Feb 25, 2025 Last action Apr 23, 2025
Maddy AI version diff · 1 comparison

What changed between versions

Raised Bill → INS Joint Favorable Substitute Change of Reference · 6 edits
MODERATE
This bill expands who can request a financial accounting of a homeowners association and adds new disclosure requirements for property buyers. The changes make it easier for groups of owners to seek financial transparency while also updating property disclosure forms to include more specific questions about property conditions and community fees.
Scope change
The bill's scope expanded from allowing any single unit owner to request an accounting to requiring a petition from at least 10% of unit owners. Additionally, the bill adds new disclosure requirements for common interest communities in property transfer documents.
ELIGIBILITY

Changed the requirement from any single unit owner to a group of unit owners comprising at least 10% of the association to petition for a financial accounting.

REQUIREMENT

Added a new condition requiring that no accounting has been completed in the preceding twelve months before a new petition can be filed.

Changed the certification requirement from a single unit owner to a group of unit owners certifying good faith belief in grounds for accounting.

Changed the proxy holding requirement from a single unit owner to a group of unit owners holding at least 10% of undirected or directed proxies.

FISCAL

Added a provision stating that expenses for the accounting must be paid by the group of unit owners who filed the petition.

SCOPE

Added new disclosure questions to property transfer forms regarding flood hazards, easements, assessments, historic districts, special tax districts, land use restrictions, and common interest community dues.

Floor votes

How they voted

No floor votes recorded yet.
Full legislative history

Actions timeline

Total actions
14
Key actions
2
Committee
3
Apr 7, 2025
Lower · Passed
Joint Favorable
lower
Mar 13, 2025
Lower · Passed
Joint Favorable Substitute Change of Reference JUD
lower
Feb 25, 2025
Committee
REF. TO JOINT COMM. ON Insurance and Real Estate
lower
0 primary · 0 co-sponsors

Sponsors

No sponsor information available.