Increasing the supply of condominiums by expanding the types of condominium buildings that may be subject to an express warranty of quality and express warranty insurance coverage.

HB 2304 expands the types of condominium buildings eligible for an express warranty of quality and insurance coverage, directly affecting developers of small residential projects. The bill allows developers to opt out of standard implied quality guarantees (like structural defects) if they provide an express warranty covering defects for specific periods: 1 year for workmanship, 2 years for systems (plumbing/electrical), and 10 years for structural elements. This applies to new or converted buildings with 12 or fewer units, including accessory dwelling units and structures under four stories (with specific configurations like parking or commercial space). Purchasers and future owners gain recourse through this warranty, while developers avoid implied warranty liabilities when meeting the coverage requirements. The change aims to streamline development for smaller condo projects without altering core buyer protections.