The recent condominium reform bill, HB 913, signed by Governor Ron DeSantis, aims to alleviate financial burdens on condo owners in Florida grappling with soaring HOA fees after new safety laws were implemented following the Champlain Towers South tragedy. The law provides mechanisms for condominium associations to secure funds through credit lines and loans for essential repairs, allowing owners to avoid hefty immediate assessments. The bill, which received unanimous support in the legislature, focuses on maintaining a balance between safety and financial feasibility for residents.
"This bill comes from a lot of listening to owners talk about how they know their building needs to be safe but pleading that the process be fair and workable," state Sen. Jennifer Bradley (R-Fleming Island) said during bill debate.
"You had people that were going to be forced out of their condos potentially because of legislation that had come down the pipe," DeSantis said during a May 20 appearance in Tampa.
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