2024 Legislative Victories

More Money for the Hometown Heroes Housing Program— SB 328, injects an additional $100 million into the successful Hometown Heroes Housing Program (HHHP), the dynamic first-time homebuyer program for hard-working Floridians. It also builds on the policies created in last year’s Live Local Act that spur private investment in affordable housing, and it clarifies changes to local zoning, height and density regulations to ensure counties and cities have the guidance they need to create more affordable housing options in their areas. Effective upon becoming law with HHHP funding effective July 1, 2024.
$408 Million for State and Local Affordable Housing Programs— Lawmakers allocated $408 million in the 2024-2025 fiscal year budget (HB 5001) to the State and Local Government Housing Trust Funds. This includes $174 million for the State Housing Initiatives Partnership (SHIP) which includes down payment and closing cost assistance programs, and $234 million for the State Apartment Incentive Loan program (SAIL) which helps build affordable rental housing. Please note that the SAIL funding includes $150 million in recurring funding as specified in the 2023 Live Local Act. Effective: July 1, 2024.
My Safe Florida Home Program Gets More Funding— SB 7028 includes $200 million for the My Safe Florida Home Program (MSFH) so more Floridians can protect their homes against storms and reduce their insurance premiums. The bill also allows homeowners to receive inspections without having to apply for a grant, lets low-income homeowners receive up to $10,000 without having to match the amount, and mandates the program administrator to streamline the grant process while prioritizing reviews based on income and age, among other things. Effective July 1, 2024.
New My Safe Florida Condominium Pilot Program Created— HB 1029 expands the My Safe Florida Home Program to include condominiums. This expansion would allocate $30 million to help condominiums within 15 miles of the coast harden roofs and openings against storms. Effective July 1, 2024.
Property Insurance Cost Reductions for Floridians— Florida imposes a 1.75% tax on most Florida insurance premiums. HB 7073 requires insurers to give homestead property owners a deduction on their residential property insurance premiums in the amount of 1.75 percent of the policyholder’s total premium. This applies to policies with coverage for a 12-month period and effective after October 1, 2024, and before September 30, 2025. Effective July 1, 2024.
Increased Transparency of Condominium Documents— HB 1021 requires an association managing a condominium with 25 (previously 150) or more units to post digital copies of official condominium documents on its website. These documents include condominium bylaws and rules, articles of incorporation, declaration of condominium, annual financial statements and budget, the FAQ sheet, building inspection reports, and reserve studies. Effective July 1, 2024.
Increased Transparency of HOA Documents— Two bills passed this year that significantly increase the transparency and availability of homeowner’s association (HOA) documents. HB 1203 requires that by January 1, 2025, homeowners’ associations with 100 or more parcels must maintain official records on their website or an app. Additionally, HB 59 requires homeowners’ associations to deliver a physical or digital copy of their rules and covenants to all members and new members. Effective July 1, 2024.
Over $1.2 Billion for the Everglades and Water Quality — The Florida Legislature continues to allocate significant funding for projects that improve Florida’s water quality. The 2024-2025 fiscal year budget (HB 5001) includes money for Everglades restoration ($581 million), the C-51 Reservoir ($100 million), Biscayne Bay ($20 million), the Indian River Lagoon ($75 million), the Caloosahatchee River & St. Lucie Estuaries ($25 million), harmful algal blooms ($30 million), springs restoration ($55 million), beach management funding assistance ($50 million), total maximum daily loads ($25 million), the Wastewater Grant Program ($135 million), Resilient Florida Grant Program ($125 million) and Alternative Water Supply ($55 million). Effective: July 1, 2024.
Seller Flood Disclosure— HB 1049 requires a seller to disclose in writing certain flood information to a prospective purchaser at or before executing a contract for the sale of residential property. This disclosure will help buyers make more informed decisions about a property and reduce the number of post-closing disputes that occur. Effective October 1, 2024.
Protecting Private Property Rights— HB 621 addresses issues with unauthorized squatters who occupy private property. The bill aims to quickly restore possession of such property to the lawful owner by allowing the property owner or their agent to request the immediate removal of unlawfully occupying persons from a residential dwelling. Effective July 1, 2024.
Preventing Unlicensed Real Estate Activity— The 2024-2025 fiscal year budget (HB 5001) allocates up to $500,000 to combat unlicensed real estate activity. Effective: July 1, 2024.
Evaluating the Impact of Lookback Periods— The 2024-2025 fiscal year budget (HB 5001) includes $500,000 for the Department of Financial Services to study the benefits and long-term effects of Lookback periods. When established by local governments, Lookback periods apply to properties located in special flood zones. When owners of these homes seek to remodel, renovate or repair the home, the costs cannot equal or exceed 50% of the home’s depreciated market value within the applicable Lookback period without having to be brought up to current flood zone standards. Effective: July 1, 2024.

The Legislature also passed a multitude of other bills of interest to REALTORS®. They include things such as fines for excessive wastewater dumping, additional remedies for nuisance properties, increased condo insurance coverage and protecting private property rights as communities manage their growth.

Additionally, many bills of interest made it far into the legislative process and will likely come back again next session for consideration. These bills include short-term rental regulation, further cuts to the Business Rent Tax, transfer fees charged by community associations, swimming pool safety and more. Florida REALTORS® will continue to work on these issues next year.