New CA law provides for assessments when reserves not fully funded. AB2050
The part that is of concern :
Many HOAs reserve funds are historically underfunded and this law requires that they be brought to up to required levels as specified in the law.
The association would generally have to fund reserves to a legally required level each year.
If its regular budget does not cover the required contribution, it would have to impose a reserve-funding special assessment on homeowners.
(This on top of any roof, balcony or other major repair project.)
https://leginfo.legislature.ca.gov/faces/billTextClient.xhtml?bill_id=202520260AB2050
u/DueWarning3 — 11 days ago