RELATING TO CONDOMINIUMS.

Changed the term 'collectable' to 'collectible' in multiple sections to ensure consistent legal terminology regarding when fines and fees can be enforced.

Revised lien priority rules to explicitly list real property taxes and governmental assessments as exceptions to the association's lien on a unit.

Updated the criteria for imposing fines to require specific descriptions of violated rules and added a requirement that fines must be collectible before attorney fees can be charged.

Expanded mandatory evaluative mediation to include disputes where parties have not agreed on a mediator or date within 45 days of receiving a request.

Changed the rule for withholding assessments, allowing owners to dispute the obligation after paying the assessment in full rather than before payment.

Added a $150 fee requirement for parties using the condominium education trust fund for both mediation and binding arbitration, with exceptions for those facing economic hardship.

Increased the maximum trust fund support for individual binding arbitration from an unspecified amount to a hard cap of $6,000.

Clarified that arbitrators must have at least five years of experience as a licensed attorney and two years working with condominiums.

Corrected formatting and terminology errors, such as changing 'collectable' to 'collectible' and clarifying the effective date header.

Replaced general mediation with mandatory 'evaluative mediation,' requiring mediators to provide an assessment of case strengths, weaknesses, and potential outcomes.

Added binding arbitration as a formal dispute resolution method, available after evaluative mediation and with written consent from all parties.

Added a requirement for arbitrators to have at least five years of experience as a licensed attorney.

Set specific funding limits for state-supported services: up to $3,500 for evaluative mediation and up to $6,000 for arbitration.

Added a specific definition for 'evaluative mediation' and expanded the list of parties eligible for dispute resolution to include associations and managing agents.

Strengthened collection rights by clarifying that unit owners cannot withhold common expense assessments and allowing disputes over other assessments before payment.

Extended the statute of limitations for enforcing liens on units from six years to ten years.

Updated the effective date of the Act from immediate approval to July 1, 2050.