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Bill

SB 615

Common Ownership Communities - Reserve Accounts and Reserve Studies - Alterations

2026 Regular Session Introduced by Mary Beth Carozza and 1 co-sponsor

SB 615 revises Maryland requirements for reserve accounts and studies in residential homeowner communities, affecting how much residents pay for future building maintenance and repairs.

Hearing 2/19 at 1:00 p.m.
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Bill Summary · SB 615

Legislative bill overview

SB 615 modifies Maryland law governing reserve accounts and reserve studies for common ownership communities (homeowner associations, condominiums, and cooperative housing). The bill appears to alter requirements for how these communities must fund reserves for future capital repairs and maintenance, and potentially changes procedures for conducting the reserve studies that determine funding needs.

Why is this important

Reserve accounts directly affect homeowner assessments and financial stability of residential communities. Changes to reserve study requirements and funding rules can significantly impact monthly fees residents pay and the ability of communities to address major repairs (roofs, foundations, parking structures) without special assessments that burden individual homeowners.

Potential points of contention

  • Reserve funding burden: Depending on specific changes, the bill could either reduce mandatory reserve contributions (benefiting current residents but risking underfunding) or increase them (protecting long-term community health but raising costs)
  • Community vs. developer interests: Reserve study alterations may affect how recently developed communities manage funding differently than older established communities
  • Transparency and accountability: Changes to study requirements could affect how thoroughly reserve needs are assessed and disclosed to residents considering purchase or refinancing

Compiled from official sources — confirm details with the bill’s official record.

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