Kentucky legislation · 2026 Regular Session
Kentucky SB233: AN ACT relating to property owner associations.
Status: In committee, March 17, 2026
Amend KRS 381.794 to exempt planned communities with 14 or fewer units from financial reporting and document retention requirements; amend KRS 381.9197 to exempt condominiums with 14 or fewer units from financial reporting and document retention requirements.
What the bill says
An act relating to property owner associations.
From the introduced text:
AN ACT relating to property owner associations. Be it enacted by the General Assembly of the Commonwealth of Kentucky: Section 1. KRS 381.794 is amended to read as follows: (1) An association shall keep financial records sufficiently detailed to enable the association to prepare financial statements in accordance with generally accepted accounting principles. (2) No later than one hundred eighty (180) days after the end of the fiscal year, or annually on a date provided in the declaration or bylaws, the association shall have a financial report prepared for the preceding fiscal year. No later than thirty (30) days after the financial report is prepared and received by the board, the association shall make the financial report available electronically at no charge or provide a paper copy with payment of a reasonable fee to a lot owner. (3) The financial report shall be prepared in accordance with the following standards: (a) An association with total annual revenues of less than one hundred twentyfive thousand dollars ($125,000) shall prepare a statement of cash receipts and disbursements that discloses all sources of income and expenses by account and classification; (b) An association with total annual revenues of at least one hundred twenty-five thousand dollars ($125,000) but less than three hundred thousand dollars ($300,000) shall prepare a financial report under the standards of …
Sponsors
- Gerald Neal (D, SD-033) · primary sponsor
- Robert Mills (R, SD-004)
- Greg Elkins (R, SD-028)
Latest actions
- : to Committee on Committees (H)
- : received in House
- : 3rd reading, passed 34-0
- : posted for passage in the Regular Orders of the Day for Monday, March 16 2026
- : 2nd reading, to Rules
- : reported favorably, 1st reading, to Calendar
- : to State & Local Government (S)
- : to Committee on Committees (S)
- : introduced in Senate
Votes
- Senate: PASS SB 233 RSN# 3934 (March 16, 2026): 34 yea, 0 nay, passed
Subjects: Property, Land Use, Housing, Building, And Construction, Audits And Auditors
Common questions
- What is SB233?
- SB233 is a bill in the Kentucky Legislature (2026 Regular Session): AN ACT relating to property owner associations.
- What does SB233 do?
- In its own words: An act relating to property owner associations.
- What is the status of SB233?
- In committee as of March 17, 2026. Latest action: to Committee on Committees (H) (March 17, 2026).
- Who sponsored SB233?
- Gerald Neal (D, SD-033), with 2 co-sponsors.
- Where is the official record for SB233?
- On the Kentucky Legislature website: https://apps.legislature.ky.gov/record/26rs/sb233.html
Source: official Kentucky record. Tracked by Delilah, AI for legislation across all 50 states and Congress.