Florida Senate - 2016                        COMMITTEE AMENDMENT
       Bill No. CS for SB 1646
       
       
       
       
       
       
                                Ì432388IÎ432388                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                   Comm: WD            .                                
                  02/15/2016           .                                
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       Appropriations Subcommittee on Transportation, Tourism, and
       Economic Development (Brandes) recommended the following:
       
    1         Senate Amendment to Amendment (176818) (with title
    2  amendment)
    3  
    4         Between lines 21 and 22
    5  insert:
    6         Section 2. Subsections (8) and (13) of section 163.08,
    7  Florida Statutes, are amended to read:
    8         163.08 Supplemental authority for improvements to real
    9  property.—
   10         (8) A local government may enter into a financing agreement
   11  only with the record owner of the affected property. Any
   12  financing agreement entered into pursuant to this section or a
   13  summary memorandum of such agreement shall be recorded in the
   14  public records of the county within which the property is
   15  located by the sponsoring unit of local government within 5 days
   16  after execution of the agreement. The assessment to be levied on
   17  the property under the agreement does not have priority over a
   18  previously recorded lien The recorded agreement shall provide
   19  constructive notice that the assessment to be levied on the
   20  property constitutes a lien of equal dignity to county taxes and
   21  assessments from the date of recordation.
   22         (13) Within At least 30 days after before entering into a
   23  financing agreement, the property owner shall provide to the
   24  holders or loan servicers of any existing mortgages encumbering
   25  or otherwise secured by the property a notice of the owner’s
   26  intent to enter into a financing agreement together with the
   27  maximum principal amount to be financed and the maximum annual
   28  assessment necessary to repay that amount. A verified copy or
   29  other proof of such notice shall be provided to the local
   30  government. A provision in any agreement between a mortgagee or
   31  other lienholder and a property owner, or otherwise now or
   32  hereafter binding upon a property owner, which allows for
   33  acceleration of payment of the mortgage, note, or lien or other
   34  unilateral modification solely as a result of entering into a
   35  financing agreement as provided for in this section is not
   36  enforceable. This subsection does not limit the authority of the
   37  holder or loan servicer to increase the required monthly escrow
   38  by an amount necessary to annually pay the qualifying
   39  improvement assessment.
   40  
   41  ================= T I T L E  A M E N D M E N T ================
   42  And the title is amended as follows:
   43         Between lines 3829 and 3830
   44  insert:
   45         163.08, F.S.; providing that certain assessments on a
   46         property do not have priority over a previously
   47         recorded lien; deleting a requirement that the
   48         recorded agreement provide certain constructive
   49         notice; revising the timeframe within which a property
   50         owner is required to provide certain notice to holders
   51         or loan servicers of a mortgage encumbering or secured
   52         by the owner’s property; amending s.