Condo & HOA Legislation

The Corporate Transparency Act (“CTA”) has been a significant concern for community associations in 2024. The CTA requires corporate entities, including many condominium and homeowners associations, to report personal information for individuals exercising substantial control of these entities by the end of 2025.  Individuals that qualify as beneficial owners under the Corporate Transparency Act would need to report  names, dates…

The Michigan legislature recently enacted the Homeowners’ Energy Policy Act, 2024 PA 68, which imposes new requirements on Michigan homeowners associations with respect to installing solar panels and other energy-saving improvements.  The Homeowners’ Energy Policy Act, MCL 559.301 et. seq. will prevent homeowners associations from completely banning solar panels and other energy-saving devices when it becomes effective on April 1,…

On January 1, 2024, the Federal Crimes Enforcement Network (“FinCEN”) opened its online portal for corporate entities in the United States to begin compliance with the new reporting requirements under the Corporate Transparency Act (“CTA”). As discussed in our previous article, Navigating the CTA:  A Guide for Condos and HOAs to comply with the Corporate Transparency Act, the CTA would…

March 1, 2024 – Federal Court rules that the Corporate Transparency Act is Unconstitutional: What does it mean for Community Associations? Read our updated blog article. The Corporate Transparency Act is a federal law that was enacted in 2021 to stop individuals in foreign countries from illegally moving money into the United States.  The Corporate Transparency Act creates new reporting…

In an effort to strengthen the financial stability of condominium associations in Michigan, the state legislature has introduced a bill to amend the Condominium Act of 1978. This amendment, specifically targeting section 105 (MCL 559.205), aims to enhance the financial accountability and security of condo associations across the state. The Necessity for the Amendment The proposed amendment comes as a…

FEMA is a federal program that assists homeowners and municipalities with recovering from disasters.  FEMA funds are available for restoration of a single family home in the event of a disaster when insurance proceeds are exhausted or the damage was not insured.  FEMA funds may be used for roof repair, HVAC repair, electrical box repair, entry and egress restoration, etc.…