Committee hears changes to common‑interest community law, including resale‑certificate waiver and reserve‑fund rules

The Civil Rights & Judiciary Committee on Tuesday heard staff and stakeholder testimony on engrossed substitute Senate Bill 5,129, which would make revisions to Washington’s law governing common‑interest communities, including condominiums and homeowners associations.

Yolanda Baker, staff to the committee, told members that the bill “relates to common interest communities” and would apply additional WOCIOA (the Washington Uniform Common Ownership Act) provisions next January to legacy communities now governed by older statutes. Baker said the bill expands the small‑community thresholds from 12 units and $300 average annual assessments to communities of up to 50 units and assessments not exceeding $1,000 per unit, per year.

The bill would also revise how boards may keep reserve funds and change resale‑certificate rules, Baker said. Under the proposal, the board may hold reserve funds in cash or money‑market accounts and, under conditions, in certificates of deposit or…