SB 22-060

Senate Bill 22-060, which has now been signed into law, restricts Home Owners' Associations (HOAs) from raising fees for common areas in a community by more than 10% within any 12-month period unless at least half of the homeowners agree to the increase. This affects HOA members who pay regular fees for shared amenities like parks or clubhouses. Since the bill is signed, it means that these restrictions are now enforceable law in Colorado.

Official Summary

The bill prohibits the unit owners' association of a common interest community from increasing by more than 10% in any 12-month period the amount of any fee that is charged on a regular and ongoing basis for the use, rental, or operation of one or more common elements unless a majority of the unit owners of the common interest community approve the fee increase. (Note: This summary applies to this bill as introduced.)