House Bill 1415 amends Florida Statutes to establish new requirements for structural integrity reserve studies for condominium and cooperative associations, particularly focusing on buildings six stories or higher. The bill mandates that these associations conduct a structural integrity reserve study by December 31, 2024, which must include visual inspections and assessments of various structural elements. While associations managing buildings five stories or fewer are not required to conduct these studies, they may opt to waive or reduce reserve contributions through a majority vote. The bill also outlines the qualifications of those conducting the studies and requires associations to distribute the completed studies to unit owners within 45 days.

In addition to the reserve study requirements, the bill introduces provisions for developers to provide a turnover inspection report for taller buildings before transferring control to unit owners. It also requires cooperative associations to report specific information to the Division of Florida Condominiums, Timeshares, and Mobile Homes by January 1, 2026, including details about the number of buildings and units. The division will compile this information and make it available on its website, enhancing safety and transparency in cooperative living arrangements. Overall, the bill aims to improve the safety and maintenance of condominium and cooperative properties in Florida.

Statutes affected:
H 1415 Filed: 718.112, 719.106