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

HB 5265 requires common interest communities (like homeowner associations) to allow financial audits under specific conditions. It permits groups owning at least 20% of voting rights to petition a court for an audit if they provide a certified public accountant's opinion indicating potential financial fraud, along with proof of ownership and confirmation no recent audit occurred. The petitioning group must cover all audit costs, though the association may charge a reasonable fee for providing records. The bill also updates property disclosure forms to include new questions about flood zones, historic districts, HOA dues, and reserve funds for buyers. These changes take effect October 1, 2026.