HB 1663

1	A bill to be entitled
2	An act relating to condominiums; amending s. 718.504,
3	F.S.; requiring developers and unit owners to provide a
4	specific question and answer disclosure document to
5	certain purchasers; providing an effective date.
6
7	Be It Enacted by the Legislature of the State of Florida:
8
9	Section 1.  Section 718.504, Florida Statutes, is amended
10	to read:
11	718.504  Prospectus or offering circular; "Frequently Asked
12	Questions and Answers".--Every developer of a residential
13	condominium which contains more than 20 residential units, or
14	which is part of a group of residential condominiums which will
15	be served by property to be used in common by unit owners of
16	more than 20 residential units, shall prepare a prospectus or
17	offering circular and file it with the Division of Florida Land
18	Sales, Condominiums, and Mobile Homes prior to entering into an
19	enforceable contract of purchase and sale of any unit or lease
20	of a unit for more than 5 years and shall furnish a copy of the
21	prospectus or offering circular to each buyer. In addition to
22	the prospectus or offering circular, any prospective each buyer
23	of a unit from the developer or a current unit owner shall be
24	furnished a separate document page entitled "Frequently Asked
25	Questions and Answers," which shall be in accordance with a
26	format approved by the division and a copy of the financial
27	information required by s. 718.111. This document page shall, in
28	readable language, inform prospective purchasers regarding their
29	voting rights and unit use restrictions, including restrictions
30	on the leasing of a unit; shall indicate whether and in what
31	amount the unit owners or the association is obligated to pay
32	rent or land use fees for recreational or other commonly used
33	facilities; shall contain a statement identifying that amount of
34	assessment which, pursuant to the budget, would be levied upon
35	each unit type, exclusive of any special assessments, and which
36	shall further identify the basis upon which assessments are
37	levied, whether monthly, quarterly, or otherwise; shall state
38	and identify any court cases in which the association is
39	currently a party of record in which the association may face
40	liability in excess of $100,000; and which shall further state
41	whether membership in a recreational facilities association is
42	mandatory, and if so, shall identify the fees currently charged
43	per unit type. The division shall by rule require such other
44	disclosure as in its judgment will assist prospective
45	purchasers. The prospectus or offering circular may include more
46	than one condominium, although not all such units are being
47	offered for sale as of the date of the prospectus or offering
48	circular. The prospectus or offering circular must contain the
49	following information:
50	(1)  The front cover or the first page must contain only:
51	(a)  The name of the condominium.
52	(b)  The following statements in conspicuous type:
53	1.  THIS PROSPECTUS (OFFERING CIRCULAR) CONTAINS IMPORTANT
54	MATTERS TO BE CONSIDERED IN ACQUIRING A CONDOMINIUM UNIT.
55	2.  THE STATEMENTS CONTAINED HEREIN ARE ONLY SUMMARY IN
56	NATURE. A PROSPECTIVE PURCHASER SHOULD REFER TO ALL REFERENCES,
57	ALL EXHIBITS HERETO, THE CONTRACT DOCUMENTS, AND SALES
58	MATERIALS.
59	3.  ORAL REPRESENTATIONS CANNOT BE RELIED UPON AS CORRECTLY
60	STATING THE REPRESENTATIONS OF THE DEVELOPER. REFER TO THIS
61	PROSPECTUS (OFFERING CIRCULAR) AND ITS EXHIBITS FOR CORRECT
62	REPRESENTATIONS.
63	(2)  Summary: The next page must contain all statements
64	required to be in conspicuous type in the prospectus or offering
65	circular.
66	(3)  A separate index of the contents and exhibits of the
67	prospectus.
68	(4)  Beginning on the first page of the text (not including
69	the summary and index), a description of the condominium,
70	including, but not limited to, the following information:
71	(a)  Its name and location.
72	(b)  A description of the condominium property, including,
73	without limitation:
74	1.  The number of buildings, the number of units in each
75	building, the number of bathrooms and bedrooms in each unit, and
76	the total number of units, if the condominium is not a phase
77	condominium, or the maximum number of buildings that may be
78	contained within the condominium, the minimum and maximum
79	numbers of units in each building, the minimum and maximum
80	numbers of bathrooms and bedrooms that may be contained in each
81	unit, and the maximum number of units that may be contained
82	within the condominium, if the condominium is a phase
83	condominium.
84	2.  The page in the condominium documents where a copy of
85	the plot plan and survey of the condominium is located.
86	3.  The estimated latest date of completion of
87	constructing, finishing, and equipping. In lieu of a date, the
88	description shall include a statement that the estimated date of
89	completion of the condominium is in the purchase agreement and a
90	reference to the article or paragraph containing that
91	information.
92	(c)  The maximum number of units that will use facilities
93	in common with the condominium. If the maximum number of units
94	will vary, a description of the basis for variation and the
95	minimum amount of dollars per unit to be spent for additional
96	recreational facilities or enlargement of such facilities. If
97	the addition or enlargement of facilities will result in a
98	material increase of a unit owner's maintenance expense or
99	rental expense, if any, the maximum increase and limitations
100	thereon shall be stated.
101	(5)(a)  A statement in conspicuous type describing whether
102	the condominium is created and being sold as fee simple
103	interests or as leasehold interests. If the condominium is
104	created or being sold on a leasehold, the location of the lease
105	in the disclosure materials shall be stated.
106	(b)  If timeshare estates are or may be created with
107	respect to any unit in the condominium, a statement in
108	conspicuous type stating that timeshare estates are created and
109	being sold in units in the condominium.
110	(6)  A description of the recreational and other commonly
111	used facilities that will be used only by unit owners of the
112	condominium, including, but not limited to, the following:
113	(a)  Each room and its intended purposes, location,
114	approximate floor area, and capacity in numbers of people.
115	(b)  Each swimming pool, as to its general location,
116	approximate size and depths, approximate deck size and capacity,
117	and whether heated.
118	(c)  Additional facilities, as to the number of each
119	facility, its approximate location, approximate size, and
120	approximate capacity.
121	(d)  A general description of the items of personal
122	property and the approximate number of each item of personal
123	property that the developer is committing to furnish for each
124	room or other facility or, in the alternative, a representation
125	as to the minimum amount of expenditure that will be made to
126	purchase the personal property for the facility.
127	(e)  The estimated date when each room or other facility
128	will be available for use by the unit owners.
129	(f)1.  An identification of each room or other facility to
130	be used by unit owners that will not be owned by the unit owners
131	or the association;
132	2.  A reference to the location in the disclosure materials
133	of the lease or other agreements providing for the use of those
134	facilities; and
135	3.  A description of the terms of the lease or other
136	agreements, including the length of the term; the rent payable,
137	directly or indirectly, by each unit owner, and the total rent
138	payable to the lessor, stated in monthly and annual amounts for
139	the entire term of the lease; and a description of any option to
140	purchase the property leased under any such lease, including the
141	time the option may be exercised, the purchase price or how it
142	is to be determined, the manner of payment, and whether the
143	option may be exercised for a unit owner's share or only as to
144	the entire leased property.
145	(g)  A statement as to whether the developer may provide
146	additional facilities not described above; their general
147	locations and types; improvements or changes that may be made;
148	the approximate dollar amount to be expended; and the maximum
149	additional common expense or cost to the individual unit owners
150	that may be charged during the first annual period of operation
151	of the modified or added facilities.
152
153	Descriptions as to locations, areas, capacities, numbers,
154	volumes, or sizes may be stated as approximations or minimums.
155	(7)  A description of the recreational and other facilities
156	that will be used in common with other condominiums, community
157	associations, or planned developments which require the payment
158	of the maintenance and expenses of such facilities, either
159	directly or indirectly, by the unit owners. The description
160	shall include, but not be limited to, the following:
161	(a)  Each building and facility committed to be built.
162	(b)  Facilities not committed to be built except under
163	certain conditions, and a statement of those conditions or
164	contingencies.
165	(c)  As to each facility committed to be built, or which
166	will be committed to be built upon the happening of one of the
167	conditions in paragraph (b), a statement of whether it will be
168	owned by the unit owners having the use thereof or by an
169	association or other entity which will be controlled by them, or
170	others, and the location in the exhibits of the lease or other
171	document providing for use of those facilities.
172	(d)  The year in which each facility will be available for
173	use by the unit owners or, in the alternative, the maximum
174	number of unit owners in the project at the time each of all of
175	the facilities is committed to be completed.
176	(e)  A general description of the items of personal
177	property, and the approximate number of each item of personal
178	property, that the developer is committing to furnish for each
179	room or other facility or, in the alternative, a representation
180	as to the minimum amount of expenditure that will be made to
181	purchase the personal property for the facility.
182	(f)  If there are leases, a description thereof, including
183	the length of the term, the rent payable, and a description of
184	any option to purchase.
185
186	Descriptions shall include location, areas, capacities, numbers,
187	volumes, or sizes and may be stated as approximations or
188	minimums.
189	(8)  Recreation lease or associated club membership:
190	(a)  If any recreational facilities or other facilities
191	offered by the developer and available to, or to be used by,
192	unit owners are to be leased or have club membership associated,
193	the following statement in conspicuous type shall be included:
194	THERE IS A RECREATIONAL FACILITIES LEASE ASSOCIATED WITH THIS
195	CONDOMINIUM; or, THERE IS A CLUB MEMBERSHIP ASSOCIATED WITH THIS
196	CONDOMINIUM. There shall be a reference to the location in the
197	disclosure materials where the recreation lease or club
198	membership is described in detail.
199	(b)  If it is mandatory that unit owners pay a fee, rent,
200	dues, or other charges under a recreational facilities lease or
201	club membership for the use of facilities, there shall be in
202	conspicuous type the applicable statement:
203	1.  MEMBERSHIP IN THE RECREATIONAL FACILITIES CLUB IS
204	MANDATORY FOR UNIT OWNERS; or
205	2.  UNIT OWNERS ARE REQUIRED, AS A CONDITION OF OWNERSHIP,
206	TO BE LESSEES UNDER THE RECREATIONAL FACILITIES LEASE; or
207	3.  UNIT OWNERS ARE REQUIRED TO PAY THEIR SHARE OF THE
208	COSTS AND EXPENSES OF MAINTENANCE, MANAGEMENT, UPKEEP,
209	REPLACEMENT, RENT, AND FEES UNDER THE RECREATIONAL FACILITIES
210	LEASE (OR THE OTHER INSTRUMENTS PROVIDING THE FACILITIES); or
211	4.  A similar statement of the nature of the organization
212	or the manner in which the use rights are created, and that unit
213	owners are required to pay.
214
215	Immediately following the applicable statement, the location in
216	the disclosure materials where the development is described in
217	detail shall be stated.
218	(c)  If the developer, or any other person other than the
219	unit owners and other persons having use rights in the
220	facilities, reserves, or is entitled to receive, any rent, fee,
221	or other payment for the use of the facilities, then there shall
222	be the following statement in conspicuous type: THE UNIT OWNERS
223	OR THE ASSOCIATION(S) MUST PAY RENT OR LAND USE FEES FOR
224	RECREATIONAL OR OTHER COMMONLY USED FACILITIES. Immediately
225	following this statement, the location in the disclosure
226	materials where the rent or land use fees are described in
227	detail shall be stated.
228	(d)  If, in any recreation format, whether leasehold, club,
229	or other, any person other than the association has the right to
230	a lien on the units to secure the payment of assessments, rent,
231	or other exactions, there shall appear a statement in
232	conspicuous type in substantially the following form:
233	1.  THERE IS A LIEN OR LIEN RIGHT AGAINST EACH UNIT TO
234	SECURE THE PAYMENT OF RENT AND OTHER EXACTIONS UNDER THE
235	RECREATION LEASE. THE UNIT OWNER'S FAILURE TO MAKE THESE
236	PAYMENTS MAY RESULT IN FORECLOSURE OF THE LIEN; or
237	2.  THERE IS A LIEN OR LIEN RIGHT AGAINST EACH UNIT TO
238	SECURE THE PAYMENT OF ASSESSMENTS OR OTHER EXACTIONS COMING DUE
239	FOR THE USE, MAINTENANCE, UPKEEP, OR REPAIR OF THE RECREATIONAL
240	OR COMMONLY USED FACILITIES. THE UNIT OWNER'S FAILURE TO MAKE
241	THESE PAYMENTS MAY RESULT IN FORECLOSURE OF THE LIEN.
242
243	Immediately following the applicable statement, the location in
244	the disclosure materials where the lien or lien right is
245	described in detail shall be stated.
246	(9)  If the developer or any other person has the right to
247	increase or add to the recreational facilities at any time after
248	the establishment of the condominium whose unit owners have use
249	rights therein, without the consent of the unit owners or
250	associations being required, there shall appear a statement in
251	conspicuous type in substantially the following form:
252	RECREATIONAL FACILITIES MAY BE EXPANDED OR ADDED WITHOUT CONSENT
253	OF UNIT OWNERS OR THE ASSOCIATION(S). Immediately following this
254	statement, the location in the disclosure materials where such
255	reserved rights are described shall be stated.
256	(10)  A statement of whether the developer's plan includes
257	a program of leasing units rather than selling them, or leasing
258	units and selling them subject to such leases. If so, there
259	shall be a description of the plan, including the number and
260	identification of the units and the provisions and term of the
261	proposed leases, and a statement in boldfaced type that: THE
262	UNITS MAY BE TRANSFERRED SUBJECT TO A LEASE.
263	(11)  The arrangements for management of the association
264	and maintenance and operation of the condominium property and of
265	other property that will serve the unit owners of the
266	condominium property, and a description of the management
267	contract and all other contracts for these purposes having a
268	term in excess of 1 year, including the following:
269	(a)  The names of contracting parties.
270	(b)  The term of the contract.
271	(c)  The nature of the services included.
272	(d)  The compensation, stated on a monthly and annual
273	basis, and provisions for increases in the compensation.
274	(e)  A reference to the volumes and pages of the
275	condominium documents and of the exhibits containing copies of
276	such contracts.
277
278	Copies of all described contracts shall be attached as exhibits.
279	If there is a contract for the management of the condominium
280	property, then a statement in conspicuous type in substantially
281	the following form shall appear, identifying the proposed or
282	existing contract manager: THERE IS (IS TO BE) A CONTRACT FOR
283	THE MANAGEMENT OF THE CONDOMINIUM PROPERTY WITH (NAME OF THE
284	CONTRACT MANAGER). Immediately following this statement, the
285	location in the disclosure materials of the contract for
286	management of the condominium property shall be stated.
287	(12)  If the developer or any other person or persons other
288	than the unit owners has the right to retain control of the
289	board of administration of the association for a period of time
290	which can exceed 1 year after the closing of the sale of a
291	majority of the units in that condominium to persons other than
292	successors or alternate developers, then a statement in
293	conspicuous type in substantially the following form shall be
294	included: THE DEVELOPER (OR OTHER PERSON) HAS THE RIGHT TO
295	RETAIN CONTROL OF THE ASSOCIATION AFTER A MAJORITY OF THE UNITS
296	HAVE BEEN SOLD. Immediately following this statement, the
297	location in the disclosure materials where this right to control
298	is described in detail shall be stated.
299	(13)  If there are any restrictions upon the sale,
300	transfer, conveyance, or leasing of a unit, then a statement in
301	conspicuous type in substantially the following form shall be
302	included: THE SALE, LEASE, OR TRANSFER OF UNITS IS RESTRICTED OR
303	CONTROLLED. Immediately following this statement, the location
304	in the disclosure materials where the restriction, limitation,
305	or control on the sale, lease, or transfer of units is described
306	in detail shall be stated.
307	(14)  If the condominium is part of a phase project, the
308	following information shall be stated:
309	(a)  A statement in conspicuous type in substantially the
310	following form: THIS IS A PHASE CONDOMINIUM. ADDITIONAL LAND AND
311	UNITS MAY BE ADDED TO THIS CONDOMINIUM. Immediately following
312	this statement, the location in the disclosure materials where
313	the phasing is described shall be stated.
314	(b)  A summary of the provisions of the declaration which
315	provide for the phasing.
316	(c)  A statement as to whether or not residential buildings
317	and units which are added to the condominium may be
318	substantially different from the residential buildings and units
319	originally in the condominium. If the added residential
320	buildings and units may be substantially different, there shall
321	be a general description of the extent to which such added
322	residential buildings and units may differ, and a statement in
323	conspicuous type in substantially the following form shall be
324	included: BUILDINGS AND UNITS WHICH ARE ADDED TO THE CONDOMINIUM
325	MAY BE SUBSTANTIALLY DIFFERENT FROM THE OTHER BUILDINGS AND
326	UNITS IN THE CONDOMINIUM. Immediately following this statement,
327	the location in the disclosure materials where the extent to
328	which added residential buildings and units may substantially
329	differ is described shall be stated.
330	(d)  A statement of the maximum number of buildings
331	containing units, the maximum and minimum numbers of units in
332	each building, the maximum number of units, and the minimum and
333	maximum square footage of the units that may be contained within
334	each parcel of land which may be added to the condominium.
335	(15)  If a condominium created on or after July 1, 2000, is
336	or may become part of a multicondominium, the following
337	information must be provided:
338	(a)  A statement in conspicuous type in substantially the
339	following form: THIS CONDOMINIUM IS (MAY BE) PART OF A
340	MULTICONDOMINIUM DEVELOPMENT IN WHICH OTHER CONDOMINIUMS WILL
341	(MAY) BE OPERATED BY THE SAME ASSOCIATION. Immediately following
342	this statement, the location in the prospectus or offering
343	circular and its exhibits where the multicondominium aspects of
344	the offering are described must be stated.
345	(b)  A summary of the provisions in the declaration,
346	articles of incorporation, and bylaws which establish and
347	provide for the operation of the multicondominium, including a
348	statement as to whether unit owners in the condominium will have
349	the right to use recreational or other facilities located or
350	planned to be located in other condominiums operated by the same
351	association, and the manner of sharing the common expenses
352	related to such facilities.
353	(c)  A statement of the minimum and maximum number of
354	condominiums, and the minimum and maximum number of units in
355	each of those condominiums, which will or may be operated by the
356	association, and the latest date by which the exact number will
357	be finally determined.
358	(d)  A statement as to whether any of the condominiums in
359	the multicondominium may include units intended to be used for
360	nonresidential purposes and the purpose or purposes permitted
361	for such use.
362	(e)  A general description of the location and approximate
363	acreage of any land on which any additional condominiums to be
364	operated by the association may be located.
365	(16)  If the condominium is created by conversion of
366	existing improvements, the following information shall be
367	stated:
368	(a)  The information required by s. 718.616.
369	(b)  A caveat that there are no express warranties unless
370	they are stated in writing by the developer.
371	(17)  A summary of the restrictions, if any, to be imposed
372	on units concerning the use of any of the condominium property,
373	including statements as to whether there are restrictions upon
374	children and pets, and reference to the volumes and pages of the
375	condominium documents where such restrictions are found, or if
376	such restrictions are contained elsewhere, then a copy of the
377	documents containing the restrictions shall be attached as an
378	exhibit.
379	(18)  If there is any land that is offered by the developer
380	for use by the unit owners and that is neither owned by them nor
381	leased to them, the association, or any entity controlled by
382	unit owners and other persons having the use rights to such
383	land, a statement shall be made as to how such land will serve
384	the condominium. If any part of such land will serve the
385	condominium, the statement shall describe the land and the
386	nature and term of service, and the declaration or other
387	instrument creating such servitude shall be included as an
388	exhibit.
389	(19)  The manner in which utility and other services,
390	including, but not limited to, sewage and waste disposal, water
391	supply, and storm drainage, will be provided and the person or
392	entity furnishing them.
393	(20)  An explanation of the manner in which the
394	apportionment of common expenses and ownership of the common
395	elements has been determined.
396	(21)  An estimated operating budget for the condominium and
397	the association, and a schedule of the unit owner's expenses
398	shall be attached as an exhibit and shall contain the following
399	information:
400	(a)  The estimated monthly and annual expenses of the
401	condominium and the association that are collected from unit
402	owners by assessments.
403	(b)  The estimated monthly and annual expenses of each unit
404	owner for a unit, other than common expenses paid by all unit
405	owners, payable by the unit owner to persons or entities other
406	than the association, as well as to the association, including
407	fees assessed pursuant to s. 718.113(1) for maintenance of
408	limited common elements where such costs are shared only by
409	those entitled to use the limited common element, and the total
410	estimated monthly and annual expense. There may be excluded from
411	this estimate expenses which are not provided for or
412	contemplated by the condominium documents, including, but not
413	limited to, the costs of private telephone; maintenance of the
414	interior of condominium units, which is not the obligation of
415	the association; maid or janitorial services privately
416	contracted for by the unit owners; utility bills billed directly
417	to each unit owner for utility services to his or her unit;
418	insurance premiums other than those incurred for policies
419	obtained by the condominium; and similar personal expenses of
420	the unit owner. A unit owner's estimated payments for
421	assessments shall also be stated in the estimated amounts for
422	the times when they will be due.
423	(c)  The estimated items of expenses of the condominium and
424	the association, except as excluded under paragraph (b),
425	including, but not limited to, the following items, which shall
426	be stated either as an association expense collectible by
427	assessments or as unit owners' expenses payable to persons other
428	than the association:
429	1.  Expenses for the association and condominium:
430	a.  Administration of the association.
431	b.  Management fees.
432	c.  Maintenance.
433	d.  Rent for recreational and other commonly used
434	facilities.
435	e.  Taxes upon association property.
436	f.  Taxes upon leased areas.
437	g.  Insurance.
438	h.  Security provisions.
439	i.  Other expenses.
440	j.  Operating capital.
441	k.  Reserves.
442	l.  Fees payable to the division.
443	2.  Expenses for a unit owner:
444	a.  Rent for the unit, if subject to a lease.
445	b.  Rent payable by the unit owner directly to the lessor
446	or agent under any recreational lease or lease for the use of
447	commonly used facilities, which use and payment is a mandatory
448	condition of ownership and is not included in the common expense
449	or assessments for common maintenance paid by the unit owners to
450	the association.
451	(d)  The estimated amounts shall be stated for a period of
452	at least 12 months and may distinguish between the period prior
453	to the time unit owners other than the developer elect a
454	majority of the board of administration and the period after
455	that date.
456	(22)  A schedule of estimated closing expenses to be paid
457	by a buyer or lessee of a unit and a statement of whether title
458	opinion or title insurance policy is available to the buyer and,
459	if so, at whose expense.
460	(23)  The identity of the developer and the chief operating
461	officer or principal directing the creation and sale of the
462	condominium and a statement of its and his or her experience in
463	this field.
464	(24)  Copies of the following, to the extent they are
465	applicable, shall be included as exhibits:
466	(a)  The declaration of condominium, or the proposed
467	declaration if the declaration has not been recorded.
468	(b)  The articles of incorporation creating the
469	association.
470	(c)  The bylaws of the association.
471	(d)  The ground lease or other underlying lease of the
472	condominium.
473	(e)  The management agreement and all maintenance and other
474	contracts for management of the association and operation of the
475	condominium and facilities used by the unit owners having a
476	service term in excess of 1 year.
477	(f)  The estimated operating budget for the condominium and
478	the required schedule of unit owners' expenses.
479	(g)  A copy of the floor plan of the unit and the plot plan
480	showing the location of the residential buildings and the
481	recreation and other common areas.
482	(h)  The lease of recreational and other facilities that
483	will be used only by unit owners of the subject condominium.
484	(i)  The lease of facilities used by owners and others.
485	(j)  The form of unit lease, if the offer is of a
486	leasehold.
487	(k)  A declaration of servitude of properties serving the
488	condominium but not owned by unit owners or leased to them or
489	the association.
490	(l)  The statement of condition of the existing building or
491	buildings, if the offering is of units in an operation being
492	converted to condominium ownership.
493	(m)  The statement of inspection for termite damage and
494	treatment of the existing improvements, if the condominium is a
495	conversion.
496	(n)  The form of agreement for sale or lease of units.
497	(o)  A copy of the agreement for escrow of payments made to
498	the developer prior to closing.
499	(p)  A copy of the documents containing any restrictions on
500	use of the property required by subsection (17).
501	(25)  Any prospectus or offering circular complying, prior
502	to the effective date of this act, with the provisions of former
503	ss. 711.69 and 711.802 may continue to be used without amendment
504	or may be amended to comply with the provisions of this chapter.
505	(26)  A brief narrative description of the location and
506	effect of all existing and intended easements located or to be
507	located on the condominium property other than those described
508	in the declaration.
509	(27)  If the developer is required by state or local
510	authorities to obtain acceptance or approval of any dock or
511	marina facilities intended to serve the condominium, a copy of
512	any such acceptance or approval acquired by the time of filing
513	with the division under s. 718.502(1) or a statement that such
514	acceptance or approval has not been acquired or received.
515	(28)  Evidence demonstrating that the developer has an
516	ownership, leasehold, or contractual interest in the land upon
517	which the condominium is to be developed.
518	Section 2.  This act shall take effect July 1, 2004.

CODING: Words stricken are deletions; words underlined are additions.