A proposed House Bill #173, sponsored by Democratic Rep. Kimberly Daniels of our own county is looking for pots of gold to grab. And she’s coming for Home Owners Associations big time.
The bill proposes to mandate that not-for-profit corporations managing residential homeowner associations (HOAs) allocate at least 15% of the association’s total annual income to benefit the community where it’s located. This bill would require HOAs to invest a portion of their budget back into the community they oversee. For instance, if an HOA collects $1 million annually, $150,000 would need to be used for community improvements or charitable contributions.
Don’t homeowners already pay taxes on their homes that are used for community improvements? Don’t homeowners already pay school taxes too? Don’t homeowners pay for their trash pickup? Don’t homeowners already give to their local charities of their choice if they want to?
Homeowners Associations dues are used to pay for improvements within their own community and this bill would severely impact HOAs and their financial stability because their budgets are carefully managed and allocated for specific purposes. The bill, if enacted, would come into effect on July 1st, potentially altering the dynamics of living within HOA communities in Florida.
This is another government steal by the likes of the Democrats and it needs to be stopped now. If you live in an HOA community, alert your board now to call Tallahassee and demand they “keep their hands out of HOAs pockets.”