The Residential Building Permit Classification Temporary Amendment Act of 2025 aims to streamline the process for changing the classification of commercial properties to residential use. The bill introduces a new application process for property owners seeking to reclassify their properties as Class 1A Property, which is designated for nontransient residential purposes. It establishes specific timelines for when properties must be put to residential use and outlines appeal rights for owners if their application for reclassification is denied. Additionally, the bill includes provisions for a "claw back" mechanism, allowing the Chief Financial Officer to reclassify properties back to their original classification if they are not utilized for residential purposes within the specified timeframe.

Key amendments to the current law include changes to the definitions and classifications of properties, such as the redefinition of Class 1A Property and the addition of a new subsection detailing the application process and tax implications for newly classified properties. The bill also modifies existing language regarding property classifications and introduces a timeline for tax rates based on the classification change. The act is set to take effect on April 1, 2025, and will expire after 225 days unless further action is taken.