The Mississippi State Legislative Session began on January 6, and CAI is already tracking impactful legislation introduced. CAI is currently OPPOSING SB 2644, which would impose a fee cap for estoppel certificates, creating new financial constraints for your association.
CAI needs your help to combat this harmful legislation for community associations! CAI is collecting signatures to send to the sponsor of this bill, Senator Kevin Blackwell, asking him to WITHDRAW this potentially harmful legislation.
Get Involved Today! We are also asking that if you feel passionately about this bill that you reach out to CAI at government@caionline.org to volunteer your time to help our advocacy efforts in Jackson. Please share this petition with your peers- we want you to help us build a grassroots coalition of advocates in Mississippi to help our industry be heard by lawmakers.
Want to know more about SB 2644?:
SB 2644 sets a $200 fee cap for estoppel certificates, plus a $50 cap on rush fees. It also states that documents must be delivered within 10 business days, and that delinquent fees cannot exceed $100.
Without the ability to set fair amounts for the production and delivery of estoppel certificates, SB 2644 forces a community association to cover the gap for the real costs associated with producing and delivering an estoppel certificate. This could mean higher assessments for all homeowners as communities struggle to make up the difference from their own operating budgets.
This bill raises costs on all community association owners at a time when they are already seeing financial strain due to rising insurance premiums and ongoing inflation. This takes a fee charged to a seller and makes it into what is essentially a tax on every homeowner in your community. If there is abuse in the system, the legislature should address it, but not by burdening all homeowners with additional costs.
Our communities simply cannot afford to take on another cost burden. SB 2644 will make the estoppel certificate process much more cumbersome and costly than it needs to be.
Please sign CAI’s petition to OPPOSE SB 2644 today!
Senator Blackwell, I OPPOSE SB 2644 because it raises costs on all community association homeowners at a time when they are already seeing financial strain due to rising insurance premiums and ongoing inflation. Without the ability to set fair amounts for the production and delivery of estoppel certificates, SB 2644 forces a community association to cover the gap for the real costs associated with producing and delivering an estoppel certificate. This could mean higher assessments for all homeowners as communities struggle to make up the difference from their own operating budgets.
Our communities simply cannot afford to take on another cost burden. SB 2644 will make the estoppel certificate process much more cumbersome and costly than it needs to be.