June 2024

O ne of the most talked about topics impacting the industry in 2024 has been the Structural Integrity Law (S2760), passed in January 2024. As with all new legislation, gaining a thorough understanding of the “ins and outs” of the law will be essential to successfully implementing the new law for each specific community. More than ever, boards and managers will need to rely on the guidance of their trusted professionals. If your community has not already discussed the impacts of this legislation, then you should make it a priority in the coming months! Although the law was approved in January 2024, communities will be given a one-year grace period to take the necessary actions needed to be in compliance with the new law. As such, the clock is already ticking! Many professional organizations (law firms, engineering firms, CPA firms, etc.) have hosted webinars and/or written articles to inform the industry of the impacts of the newly approved legislation. Be sure to ask your professionals for any such resources, and regularly check their websites and social media accounts for any new information that may be released. In addition, CAI’s Legislative Action Committee (“LAC”) also serves as a great resource for information on the new law. LAC is planning to issue an update later this year, which will likely contain infor mation on the implementation of the new law. In addition, LAC will also lead the September 2024 issue of Community Trends ® , so be on the lookout for additional articles on the matter in September’s issue as well! These updates will likely be very helpful as many communities will have had time to digest and implement certain aspects of the law, which will allow for some updated guidance on best practices. The key to a successful implementation of the new legislation will be education! Many resources have already been made available, with many more to come! Be sure to regularly check the sources noted above for new information to ensure your community is informed! n Keep an Eye Out for Education Opportunities on Structural Integrity! By Michael Mezzo, CPA, WilkinGuttenplan

“The key to a successful

fernandoks/iStock/Getty Images Plus

implementation of the new legislation will be education!”

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JUNE 2024