The bill amends Section 163.3755 of the Florida Statutes to establish a termination date for community redevelopment agencies (CRAs) and to prohibit the creation of new CRAs after a specified date. Specifically, existing CRAs will terminate on July 1, 2025, unless they have outstanding bonds that mature after this date, in which case they may continue to operate until the bonds mature. The bill also prohibits CRAs from initiating new projects or issuing new debt after October 1, 2025.

Additionally, the bill removes the previous exception that allowed CRAs to continue existing if approved by the governing body of the county or municipality. It sets a new prohibition on the creation of CRAs after July 1, 2025, while allowing those in existence prior to that date to continue operating under the revised provisions. The effective date for this act is July 1, 2025.

Statutes affected:
S 1242 Filed: 163.3755