Control of YOUR Pocket Book Part II

Speaking of Pocket Book Issues….

There’s a bill going through our legislature, SB260, which will REQUIRE HOA Owners to carry an impound account to pay for HOA fees! When the HOA raises your fees, the bank just increases your payment to cover the impound account amount. I personally don’t like anybody touching my money without my specific permission!

Follow the links on the bill below and register your voice!

SB 260 –
This bill requires lenders to establish escrow accounts for the payment of assessments for all new loans in community associations after January 1, 2016. Associa is a member of Community Association Institute (CAI). CAI is supporting this bill as they believe this will help to resolve issues with the super priority lien, as well as greatly reduce association delinquencies.

You can read the full bill SB260/2015 on-line here. Pay particular attention to page 3 with the redlines for association assessments, special assessments and contributions for capital expenditures.

Download or print a pdf file here.

As the bill travels through the government bodies, its tracks are left here. The last track as of yesterday: “Senate Judiciary – Apr 06, 2015 – Amend, and do pass as amended” — The minutes and redlines haven’t been posted yet.

Back in March at the original hearing, the Nevada Credit Union League registered their opposition in testimony here. Mark Leon of southwest Las Vegas registered his testimony for the bill here.

YOU can also tell Nevada lawmakers how you feel about this bill. One easy way to voice your opinion is to take advantage of a powerful legislative online web tool:

Click on:

Select your view (For or Against) on this bill SB260. You can also leave comments. You will also be leaving your personal contact information.

Additionally, you can also reach out directly to those members that sit on the Senate Judiciary Committee and let them know your thoughts:

Chair Greg Brower ( ) – District 15
Vice Chair Becky Harris ( ) – District 9
Scott Hammond ( ) – District 18
Aaron Ford ( ) – District 11
Ruben Kihuen ( ) – District 10
Tick Segerblom ( ) – District 3

You can also reach out to our (ArrowCreek) State Senator
Ben Kieckhefer – District 16
( )

You can also reach out to our (ArrowCreek) State Assemblyman
Randy Kirner – District 26
( )

Talk to your neighbors, friends, and anyone you know that owns a home within a community association in our state and direct them to this post. Their state representatives can be found by typing their address in the blank at this link:

This entry was posted in ArrowCreek, ArrowCreek HOA, Escrow Accounts for HOA Assessments, SB260 and tagged , , , , , , , . Bookmark the permalink.

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