Modifies requirements for associations to protect structural integrity of certain buildings; expands timeframes for associations to establish adequate reserves.

This bill modifies requirements for condominium and cooperative associations managing residential buildings three stories or more in height. It expands the timeframe associations have to build adequate reserve funds for structural repairs - extending the period from 10 to 20 years for larger funding gaps and from 2 to 4 years for smaller increases. The bill clarifies that reserve funding rules apply only to structural components (like load-bearing systems), not general common areas. It also excludes single-family homes, rental buildings, and non-structural elements from these requirements.