Colorado House Bill 22-1387 officially took effect on January 1, 2025, requiring all Colorado HOAs and condominium associations to conduct regular reserve studies. This makes Colorado one of the states with a mandatory HOA reserve study requirement. Associations must not only complete the study but also maintain a reserve funding plan and disclose capital reserve balances in annual reports. The 2025 implementation enforces consistent standards for common area maintenance planning, aiming to prevent surprise special assessments and promote fiscal responsibility.
Source: Community Associations Institute Summary of State Reserve Fund Laws
Note: This information is for informational purposes and is not intended to provide legal advice.
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