A new bill proposed by a Florida lawmaker could prevent condo associations from accessing state-run Citizens Property Insurance if they fail to comply with updated building safety laws.

The move comes after the tragic collapse of a 12-story condo building in Surfside, Miami, on June 24, 2021, which resulted in 98 fatalities. In response, Florida lawmakers have introduced measures to prevent similar incidents, mandating that most condo buildings over three stories high complete a safety study by the end of 2024 and allocate reserves to ensure future structural integrity.

However, more than half of these buildings have yet to provide evidence of compliance with these new safety regulations.

Republican State Representative Vicki Lopez of Miami has proposed enforcing strict penalties, including the removal of Citizens coverage for non-compliant buildings. During a recent Miami Association of Realtors summit, Lopez stated, “We’re not in the business of bailing people out who did not do the right thing from the get-go. In addition to that, well, because it’s your tax money, by the way. It’d be you bailing them out.”

The decision to reject an extension of the inspection deadline last year has frustrated many condo associations and residents, who argue they are being asked to contribute significant sums. Some owners have faced five or six-figure assessments.

Lopez and other supporters of the bill argue that residents have alternatives, such as borrowing against their home’s equity or utilizing Miami-Dade’s interest-free loan program designed to help with assessment fees.

The bill, HB 913, is set to be reviewed during the annual legislative session beginning next Tuesday, March 4.

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

(Image credit: Matias J. Ocner)

PIE-Sun.com: local St. Pete-Clearwater news