I know and posted same earlier. 

From the Act:

The governing body of a cooperative housing corporation, condominium, or HOA must provide funds to the reserve in accordance with the most recent reserve study, must review the reserve study annually, and has the authority to increase an assessment levied to cover the reserve funding amount required – despite any provision of the articles of incorporation, declaration, bylaws, or proprietary lease, as applicable, restricting assessment increases or capping the assessment that may be levied in a fiscal year. The bill requires the governing body of a cooperative, condominium, or HOA, if the most recent reserve study was an initial reserve study, to attain the annual reserve funding level recommended by the reserve study within three fiscal years following the fiscal year in which the initial reserve study was completed.

Anyway, we are now way off into thread drift relative to my commentary as to the assessment. The budget already should provide for adequate, legally required reserves, so your political concerns about reducing the assessment over reserve funding are just that - political