This bill amends section 553.899 of the Florida Statutes to introduce requirements for condominium associations regarding structural integrity reserve studies. It defines a "structural integrity reserve study" and mandates that associations governing buildings six stories or taller must conduct such studies to estimate future maintenance, repair, and replacement costs of common elements. Conversely, associations for buildings five stories or shorter are not required to conduct these studies and may opt to waive or reduce reserve contributions through a majority vote of their members.

Additionally, the bill outlines the procedures for milestone inspections, including the roles of licensed engineers or architects in conducting these inspections and the timelines for submitting reports. It also requires local enforcement agencies to report specific data related to milestone inspections to the department by December 31 each year, starting in 2025. The act is set to take effect on July 1, 2026.