Revision: Nov. 13, 2017, 9:43 a.m.
HB 1601 - AS INTRODUCED
2018 SESSION
18-2409
10/05
HOUSE BILL 1601
AN ACT relative to a declarant's options for condominium expansion.
SPONSORS: Rep. Almy, Graf. 13; Rep. LeBrun, Hills. 32; Rep. Treleaven, Straf. 17; Sen. Birdsell, Dist 19
COMMITTEE: Commerce and Consumer Affairs
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ANALYSIS
This bill adds a time limit for the conversion of convertible spaces pursuant to a condominium instrument and clarifies a declarant's options for adding additional units or common areas in a condominium.
This bill is a request of the committee to study the laws relating to condominium and homeowners' associations, established in RSA 356-B:70.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
18-2409
10/05
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Eighteen
AN ACT relative to a declarant's options for condominium expansion.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 New Paragraph; Condominium Act; Definitions; Improvement. Amend RSA 356-B:3 by inserting after paragraph XVI the following new paragraph:
XVI-a. "Improvement" means any addition to condominium land, facilities, or amenities other than condominium units.
2 New Paragraph; Conversion of Convertible Spaces. Amend RSA 356-B:24 by inserting after paragraph IV the following new paragraph:
V. Until the expiration of the period during which conversion may occur or until actual conversion, whichever occurs first, real estate taxes relative to convertible space shall be assessed against the declarant rather than the unit owners when such space is utilized only for the benefit of the declarant. No such conversion shall occur after 5 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 may be extended by not more than 5 years by an amendment to the declaration adopted pursuant to RSA 356-B:54, V.
3 New Paragraph; Declarant's Options for Additional Units. Amend RSA 356-B:16 by inserting after paragraph III the following new paragraph:
III-a. After a condominium is created, a declarant's options for creating additional units and/or limited common area shall be, exclusively, from convertible land, convertible space, or expandable condominium.
4 Effective Date. This act shall take effect 60 days after its passage.