The House and Senate have completed their 60th day of the 2009 legislative session. This is the day the Legislature should be adjourning “Sine Die.”  However, as you have likely heard, the 2009 regular session of the Florida Legislature has been extended for a full week to finalize the budget.  While the session was extended to next week, today still has that “last-day-of-session feel,” since all non-budget legislation had to be considered for final passage today if it was going to have a chance of becoming law. 
 
One of the final bills consideredlast night was SJR 532. This constitutional amendment will ask voters to limit increases in property tax assessments on all non-homestead properties to 5 percent annually. First-time homebuyers could benefit, too, with an additional homestead exemption up to $100,000.

HB 521, the bill that puts the burden of proving that a property tax assessment is correct on the appraiser, not the property owner, also passed both chambers and heads to the Governor. 
 
In the area of property insurance, the Legislature capped rate increases at 10 percent per year for Citizens policyholders (HB 1495). The Legislature also repealed the requirement that, effective Jan. 1, 2010, sellers of property located in a wind-borne debris region, and which has an insured value on the structure of $500,000 or more, provide prospective buyers the structure’s windstorm mitigation rating.
 
The growth management bill (SB 360) we supported passed as a big package. It includes a provision to encourage urban infill by eliminating transportation concurrency, one that allows for expedited comprehensive plan reviews and another that eliminates the development of regional impact process (DRIs) in urban areas. The bill also extends previously obtained permits and approvals by two years, creates a transition process for moving towards a mobility fee system, and streamlines and reduces inefficiency in our approach to growth management.
 
Also, it appears that when the budget is finalized next week, we’ll have $30 million for downpayment assistance to help “front load” the federal first-time homebuyer tax credit.
 
This update was provided by the Florida Association of Realtors.