Florida Senate - 2022                        COMMITTEE AMENDMENT
       Bill No. CS for SB 228
       
       
       
       
       
       
                                Ì4752361Î475236                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
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       The Committee on Rules (Brandes) recommended the following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Delete lines 212 - 303
    4  and insert:
    5  records of the county where the property is located.
    6         (9) Before entering into an assessment a financing
    7  agreement, the local government, or the program administrator
    8  acting on its behalf, shall reasonably determine that all of the
    9  following conditions are met:
   10         (a) All property taxes and any other assessments levied on
   11  the same bill as property taxes are current paid and have not
   12  been delinquent for more than 30 days for the preceding 3 years
   13  or the property owner’s period of ownership, whichever is less.;
   14         (b)that There are no involuntary liens greater than
   15  $1,000, including, but not limited to, construction liens on the
   16  property.;
   17         (c)that No notices of default or other evidence of
   18  property-based debt delinquency have been recorded and not
   19  released during the preceding 3 years or the property owner’s
   20  period of ownership, whichever is less.;
   21         (d)The local government or program administrator has asked
   22  the property owner whether any other assessments under this
   23  section have been recorded or have been funded and not yet
   24  recorded on the property. The failure of a property owner to
   25  disclose information set forth in this paragraph does not
   26  invalidate an assessment financing agreement or any obligation
   27  thereunder, even if the total financed amount of the qualifying
   28  improvements exceeds the amount that would otherwise be
   29  authorized under paragraph (12)(a).
   30         (e)and that The property owner is current on all mortgage
   31  debt on the property.
   32         (f)The residential property is not subject to an existing
   33  home equity conversion mortgage or reverse mortgage product.
   34  This paragraph does not apply to nonresidential real properties.
   35         (g)The property is not currently a residential property
   36  gifted to a homeowner for free by a nonprofit entity as may be
   37  disclosed by the property owner. The failure of a property owner
   38  to disclose information set forth in this paragraph does not
   39  invalidate an assessment financing agreement or any obligation
   40  thereunder. This paragraph does not apply to nonresidential real
   41  properties.
   42         (h)The property owner obtained the approval of any
   43  applicable lender, creditor, assignee, or servicer of any
   44  previously recorded mortgage or other lien on the property.
   45         (10) Before final funding may be provided, a qualifying
   46  improvement must shall be affixed or planned to be affixed to a
   47  nonresidential real property or residential real building or
   48  facility that is part of the property and constitutes shall
   49  constitute an improvement to that property the building or
   50  facility or a fixture attached to the building or facility. An
   51  assessment financing agreement may between a local government
   52  and a qualifying property owner may not cover qualifying wind
   53  resistance improvements on nonresidential real property under
   54  new construction or residential real property in buildings or
   55  facilities under new construction or construction for which a
   56  certificate of occupancy or similar evidence of substantial
   57  completion of new construction or improvement has not been
   58  issued.
   59         (12)(a) Without the consent of the holders or loan
   60  servicers of any mortgage encumbering or otherwise secured by
   61  the property, the total amount of any non-ad valorem assessment
   62  for a property under this section may not exceed 20 percent of
   63  the fair market just value of the real property as determined by
   64  the county property appraiser. The combined mortgage-related
   65  debt and total amount of any non-ad valorem assessments funded
   66  under this section for residential real property may not exceed
   67  100 percent of the fair market value of the residential real
   68  property. However, the failure of a property owner to disclose
   69  information set forth in paragraph (9)(d) does not invalidate an
   70  assessment financing agreement or any obligation thereunder,
   71  even if the total financed amount of the qualifying improvements
   72  exceeds the amount that would otherwise be authorized under this
   73  paragraph. For purposes of this paragraph, fair market value may
   74  be determined using reputable third parties.
   75         (b) Notwithstanding paragraph (a), a non-ad valorem
   76  assessment for a qualifying improvement defined in subparagraph
   77  (2)(h)1. (2)(b)1. or subparagraph (2)(h)2. which (2)(b)2. that
   78  is supported by an energy audit is not subject to the limits in
   79  this subsection if the audit demonstrates that the annual energy
   80  savings from the qualified improvement equals or exceeds the
   81  annual repayment amount of the non-ad valorem assessment.
   82         (13) At least 30 days before entering into an assessment a
   83  financing agreement, the property owner shall provide to the
   84  holders or loan servicers of any existing mortgages encumbering
   85  or otherwise secured by the property a notice of the owner’s
   86  intent to enter into an assessment a financing agreement
   87  together with the maximum principal amount to be financed and
   88  the maximum annual assessment necessary to repay that amount. A
   89  verified copy or other proof of such notice shall be provided to
   90  the local government. A provision in any agreement between a
   91  mortgagee or other lienholder and a property owner, or otherwise
   92  now or hereafter binding upon a property owner, which allows for
   93  acceleration of payment of the mortgage, note, or lien or other
   94  unilateral modification solely as a result of entering into a
   95  financing agreement as provided for in this section is not
   96  enforceable. This subsection does not limit the authority
   97  
   98  ================= T I T L E  A M E N D M E N T ================
   99  And the title is amended as follows:
  100         Delete line 38
  101  and insert:
  102         property; providing and revising construction;
  103         providing applicability;