Ind. Code § 32-25.5-3-3.1 – Homeowners association established before July 1, 2026; adoption of annual budget for ensuing year; allowable amount; exemption not applicable if governing documents amended or renewed

(a) The amendments made by HEA 1152-2026 to section 3 of this chapter do not apply to a homeowners association established before July 1, 2026, if the homeowners association's governing documents allowed for the adoption of the annual budget for the ensuing year in an amount that does not exceed one hundred ten percent (110%) of the amount of the last approved annual budget as permitted by section 3(f) of this chapter, before the amendment by HEA 1152-2026.
(b) This section does not apply if a homeowners association described in subsection (a) amends or renews the governing documents after June 30, 2026.

As added by P.L.53-2026, SEC.3.