Amendment AA1-AB570

LRBa1117/1

KRP:cjs

2021 - 2022 LEGISLATURE

ASSEMBLY AMENDMENT 1, TO ASSEMBLY BILL 570

January 13, 2022 - Offered by Representative Kitchens.

AB570-AA1,1,1 At the locations indicated, amend the bill as follows:

AB570-AA1,1,3 1. Page 4, line 17: delete “An association" and substitute “ An Except as provided under par. (c), an association".

AB570-AA1,1,4 2. Page 5, line 20: after that line insert:

AB570-AA1,1,5 “ Section 10m. 703.20 (1) (c) of the statutes is created to read:

AB570-AA1,1,11 703.20 (1) (c) Exception; records of initial construction. An association is not required under par. (b) to maintain any financial records related to the declarant's initial construction of the common elements during the period of declarant control under s. 703.15 (2) (c) if the costs of the initial construction are not assessed against unit owners as common expenses and no contract related to the initial construction is made by or on behalf of the association.”.

AB570-AA1,1,12 3. Page 6, line 14: after that line insert:

AB570-AA1,1,13 “5. A financial record described under sub. (1) (c).”.

AB570-AA1,2,1 4. Page 6, line 22: delete “$50" and substitute “$150".

AB570-AA1,2,2 (End)