Revision: Jan. 12, 2010, midnight
SB 419 – AS INTRODUCED
2010 SESSION
05/10
SENATE BILL 419
AN ACT relative to conversion of convertible lands under the condominium act.
SPONSORS: Sen. Gallus, Dist 1; Sen. Carson, Dist 14; Sen. Roberge, Dist 9; Rep. Ingersoll, Coos 4; Rep. Chandler, Carr 1
COMMITTEE: Public and Municipal Affairs
This bill extends the statutory timeline for the declarant to convert convertible land in a condominium to finished units.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
10-2835
05/10
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Ten
AN ACT relative to conversion of convertible lands under the condominium act.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Condominium Act; Conversion of Convertible Lands. Amend RSA 356-B:23, III to read as follows:
III. All convertible lands shall be deemed a part of the common areas except for such portions thereof as are converted in accordance with the provisions of this section. Until the expiration of the period during which conversion may occur or until actual conversion, whichever occurs first, real estate taxes shall be assessed against the declarant rather than the unit owners as to both the convertible land and any improvements thereon. No such conversion shall occur after [5] 10 years from the recordation of the declaration, or such shorter period of time period as the declaration may specify, provided, however, that the time limit [contained in the declaration] in either case may be extended by not more than 5 years by an amendment to the declaration adopted pursuant to RSA 356-B:54, V.
2 Effective Date. This act shall take effect 60 days after its passage.