Key Florida lawmakers have indicated that condominium owners should not expect financial “bailouts” to cover increased costs following the 2021 collapse of the Champlain Towers South building in Surfside, which resulted in 98 fatalities.

As the Legislature considers potential changes to condo laws, House Speaker Daniel Perez (R-Miami) and Rep. Vicki Lopez (R-Miami) stated that new proposals would not include direct financial assistance.

“I have to balance my responsibilities as the speaker and ensure that we don’t use taxpayer dollars to bail out private homeowners,” Perez said Tuesday after a Florida Chamber of Commerce Legislative Fly-In event at Tallahassee’s Donald L. Tucker Civic Center.

Perez added, “I view a condominium similarly to a residential home—it’s private property. Using taxpayer funds for bailouts is not something I support.”

Rep. Lopez, a condo resident and chair of the House State Administration Budget Subcommittee, reiterated Perez’s stance, indicating that upcoming legislation for the regular legislative session beginning March 4 will not include financial bailouts.

Lopez stated, “We are not clear on the bill’s specifics yet, but it will not provide financial bailouts. The Legislature is not in the business of bailing out condo owners, especially when they haven’t fulfilled their responsibilities over the years. If you live in a single-family home and need to replace your roof or doors, you’d likely wonder, ‘Where’s my bailout?’”

Laws enacted post-Surfside require “milestone inspections” of older buildings and “structural integrity reserve” studies to determine condo associations’ reserve funds for major repairs. Engineers or architects must conduct detailed inspections upon identifying any “substantial structural deterioration.”

The initial condo law passed in 2022 and was revised in 2023. Last year, the Legislature targeted misconduct by association board members.

Certain older buildings, three stories or higher, were required to complete milestone inspections by Dec. 31. Some condo associations have imposed significant assessments to comply, while also contending with rising property insurance costs.

Senate President Ben Albritton (R-Wauchula) expressed optimism that lawmakers would craft legislation to assist condo owners.

“You never know when a new idea surpasses the previous one,” Albritton said after the Chamber of Commerce event. “We’re actively seeking those ideas now.”

Follow the St. Pete-Clearwater Sun on Facebook, Instagram, Threads, Google, & X

(Image credit: Associated Press)