Montana legislation · 2025 Regular Session
Montana HB232: Require homeowners' associations to distribute annual budget and financial reports
Status: Chaptered, May 20, 2025
What the bill says
A bill for an act entitled: "an act revising laws related to homeowners' associations; requiring a certain homeowners' association associations to produce annual budget and financial reports; establishing requirements before a certain homeowners' association associations may increase fees, dues, or other charges; providing a definition; and amending sections 35-2-114 and 35-2-525, mca.".
From the engrossed text:
A BILL FOR AN ACT ENTITLED: "AN ACT REVISING LAWS RELATED TO HOMEOWNERS' ASSOCIATIONS; REQUIRING A CERTAIN HOMEOWNERS' ASSOCIATION ASSOCIATIONS TO PRODUCE ANNUAL BUDGET AND FINANCIAL REPORTS; ESTABLISHING REQUIREMENTS BEFORE A CERTAIN HOMEOWNERS' ASSOCIATION ASSOCIATIONS MAY INCREASE FEES, DUES, OR OTHER CHARGES; PROVIDING A DEFINITION; AND AMENDING SECTIONS 35-2-114 AND 35-2-525, MCA." BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MONTANA: NEW SECTION. Section 1. Homeowners' association -- annual budget and financial report requirements -- EXCEPTION. (1) (a) EXCEPT AS PROVIDED IN SUBSECTION (5), A A homeowners' association shall produce an annual budget report by the end of the homeowners' association's fiscal year. (b) The annual budget report must include an operating budget for the next fiscal year showing estimated revenue and expenses, including the sources of revenue and anticipated itemized expenses. (2) (a) A homeowners' association shall produce an annual financial report not less than 30 days after the end of the homeowners' association's fiscal year. (b) The annual financial report must include: (i) FOR EACH CATEGORY OF REVENUE AND EXPENDITURE TOTALING AT LEAST $50 ANNUALLY, a summary REPORT of revenue and expenditures of the fiscal year ending; and (ii) THE ENDING BALANCE OF EACH FUND; AND (III) any unreserved balance remaining at the end of the fiscal year from fees, dues, or other charges collected. (3) …
Sponsors
- Falk, Terry (R, 10) · primary sponsor
Latest actions
- : (H) Died in Process
- : Chapter Number Assigned
- : (H) Signed by Governor
- : (H) Transmitted to Governor
- : (S) Signed by President
- : (H) Signed by Speaker
- : (H) Returned from Enrolling
- : (H) Sent to Enrolling
- : (S) 3rd Reading Concurred
- : (S) Scheduled for 3rd Reading
Votes
- Do Pass (February 4, 2025): 30 yea, 70 nay, failed
Subjects: Property, Housing, Corporations
Common questions
- What is HB232?
- HB232 is a bill in the Montana Legislature (2025 Regular Session): Require homeowners' associations to distribute annual budget and financial reports.
- What does HB232 do?
- In its own words: A bill for an act entitled: "an act revising laws related to homeowners' associations; requiring a certain homeowners' association associations to produce annual budget and financial reports; establishing requirements before a certain homeowners' association associations may increase fees, dues, or other charges; providing a definition; and amending sections 35-2-114 and 35-2-525, mca.".
- What is the status of HB232?
- Chaptered as of May 20, 2025. Latest action: (H) Died in Process (May 20, 2025).
- Who sponsored HB232?
- Falk, Terry (R, 10).
- Where is the official record for HB232?
- On the Montana Legislature website: https://bills.legmt.gov/#/laws/bill/2/LC2570
Source: official Montana record. Tracked by Delilah, AI for legislation across all 50 states and Congress.