Florida Senate - 2016                        COMMITTEE AMENDMENT
       Bill No. CS for SB 1646
       
       
       
       
       
       
                                Ì216156,Î216156                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                   Comm: WD            .                                
                  02/15/2016           .                                
                                       .                                
                                       .                                
                                       .                                
       —————————————————————————————————————————————————————————————————




       —————————————————————————————————————————————————————————————————
       Appropriations Subcommittee on Transportation, Tourism, and
       Economic Development (Brandes) recommended the following:
       
    1         Senate Amendment (with title amendment)
       
    2         Between lines 228 and 229
    3  insert:
    4         Section 2. Subsection (13) of section 163.08, Florida
    5  Statutes, is amended to read:
    6         163.08 Supplemental authority for improvements to real
    7  property.—
    8         (13) Within At least 30 days after before entering into a
    9  financing agreement, the property owner shall provide to the
   10  holders or loan servicers of any existing mortgages encumbering
   11  or otherwise secured by the property a notice of the owner’s
   12  intent to enter into a financing agreement together with the
   13  maximum principal amount to be financed and the maximum annual
   14  assessment necessary to repay that amount. A verified copy or
   15  other proof of such notice shall be provided to the local
   16  government. A provision in any agreement between a mortgagee or
   17  other lienholder and a property owner, or otherwise now or
   18  hereafter binding upon a property owner, which allows for
   19  acceleration of payment of the mortgage, note, or lien or other
   20  unilateral modification solely as a result of entering into a
   21  financing agreement as provided for in this section is not
   22  enforceable. This subsection does not limit the authority of the
   23  holder or loan servicer to increase the required monthly escrow
   24  by an amount necessary to annually pay the qualifying
   25  improvement assessment.
   26  
   27  ================= T I T L E  A M E N D M E N T ================
   28  And the title is amended as follows:
   29         Between lines 8 and 9
   30  insert:
   31         163.08, F.S.; revising the timeframe within which a
   32         property owner is required to provide certain notice
   33         to holders or loan servicers of a mortgage encumbering
   34         the owner’s property; amending s.