Florida Senate - 2019                              CS for SB 568
       By the Committee on Community Affairs; and Senators Diaz and
       578-02968-19                                           2019568c1
    1                        A bill to be entitled                      
    2         An act relating to the assessment of property;
    3         creating s. 193.019, F.S.; authorizing counties and
    4         municipalities to enter into agreements with property
    5         owners to record certain restrictive covenants running
    6         with the land; authorizing property owners and the
    7         county or municipality to amend the covenant under
    8         certain circumstances; providing requirements for
    9         counties and municipalities in recording covenants and
   10         in providing property appraisers with a list of
   11         agreements; requiring property appraisers to consider
   12         the terms of covenants in arriving at just value;
   13         providing construction; amending s. 196.183, F.S.;
   14         revising a condition under which a property owner may
   15         qualify for the tangible personal property exemption
   16         without filing an initial return; providing an
   17         effective date.
   19  Be It Enacted by the Legislature of the State of Florida:
   21         Section 1. Section 193.019, Florida Statutes, is created to
   22  read:
   23         193.019 Assessment of property with restrictive covenants.—
   24         (1)(a)A county or municipality may enter into an agreement
   25  with a property owner which authorizes the county or
   26  municipality to record with the clerk of court a restrictive
   27  covenant running with the land for a term of at least 20 years
   28  and stating that the property will be used to provide affordable
   29  housing to extremely-low-income, very-low-income, low-income, or
   30  moderate-income persons as defined in s. 420.0004 or provide
   31  workforce housing as defined in s. 420.5095(3). The covenant may
   32  contain resale restrictions.
   33         (b)A property owner and the county or municipality may
   34  agree to amend, supplement, or attach an addendum to the
   35  recorded covenant, so long as the amendment, supplement, or
   36  addendum does not significantly alter the intent of the original
   37  covenant.
   38         (2)Each restrictive covenant entered into pursuant to this
   39  section must be recorded in the public records of the county
   40  where the property is located. Each county or municipality that
   41  enters into an agreement with a property owner shall provide the
   42  property appraiser with a list of all agreements entered into
   43  for the calendar year no later than December 1 of the year
   44  before the year in which the revised assessment will take
   45  effect.
   46         (3)In addition to considering the factors listed in s.
   47  193.011 in arriving at just value, the property appraiser shall
   48  consider each property with a restrictive covenant entered into
   49  pursuant to this section in accordance with the terms of the
   50  covenant, including any recorded amendment, supplement, or
   51  addendum to, or resale restriction in, the covenant.
   52         (4)Each covenant entered into pursuant to this section,
   53  including any amendment, supplement, or addendum to the
   54  covenant, or resale restriction therein, which is recorded in
   55  the official public records of the county in which the land is
   56  located is deemed a land use regulation during the term of the
   57  covenant.
   58         Section 2. Subsection (4) of section 196.183, Florida
   59  Statutes, is amended to read:
   60         196.183 Exemption for tangible personal property.—
   61         (4) Owners of property previously assessed by the property
   62  appraiser without a return being filed may, at the option of the
   63  property appraiser, qualify for the exemption under this section
   64  without filing an initial return.
   65         Section 3. This act shall take effect July 1, 2019.