Florida Senate - 2017                        COMMITTEE AMENDMENT
       Bill No. SB 744
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: RCS            .                                
                  03/29/2017           .                                

       The Committee on Regulated Industries (Hutson) recommended the
    1         Senate Amendment to Amendment (846426) (with directory and
    2  title amendments)
    4         Delete lines 532 - 794
    5  and insert:
    6         (i)1.If a board adopts in any fiscal year an annual budget
    7  that requires assessments against parcel owners which exceed 115
    8  percent of assessments for the preceding fiscal year, the board
    9  shall conduct a special meeting of the parcel owners to consider
   10  a substitute budget if the board receives, within 21 days after
   11  adoption of the annual budget, a written request for a special
   12  meeting from at least 10 percent of all voting interests. The
   13  special meeting shall be conducted within 60 days after adoption
   14  of the annual budget. At least 14 days before such special
   15  meeting, the board shall hand deliver to each parcel owner, or
   16  mail to each parcel owner at the address last furnished to the
   17  association, a notice of the meeting. An officer or manager of
   18  the association, or other person providing notice of such
   19  meeting shall execute an affidavit evidencing compliance with
   20  this notice requirement, and such affidavit shall be filed among
   21  the official records of the association. Parcel owners may
   22  consider and adopt a substitute budget at the special meeting. A
   23  substitute budget is adopted if approved by a majority of all
   24  voting interests unless the bylaws require adoption by a greater
   25  percentage of voting interests. If there is not a quorum at the
   26  special meeting or a substitute budget is not adopted, the
   27  annual budget previously adopted by the board shall take effect
   28  as scheduled.
   29         2.Any determination of whether assessments exceed 115
   30  percent of assessments for the prior fiscal year shall exclude
   31  any authorized provision for reasonable reserves for repair or
   32  replacement of the association property, anticipated expenses of
   33  the association which the board does not expect to be incurred
   34  on a regular or annual basis, or assessments for betterments to
   35  the condominium property.
   36         3.If the developer controls the board, assessments may not
   37  exceed 115 percent of assessments for the prior fiscal year
   38  unless approved by a majority of all voting interests.
   41  ====== D I R E C T O R Y  C L A U S E  A M E N D M E N T ======
   42  And the directory clause is amended as follows:
   43         Delete lines 454 - 456
   44  and insert:
   45         Section 7. Paragraphs (a) and (c) of subsection (2) of
   46  section 720.303, Florida Statutes, are amended, and paragraph
   47  (i) is added to subsection (6) of that section, to read:
   49  ================= T I T L E  A M E N D M E N T ================
   50  And the title is amended as follows:
   51         Delete lines 903 - 907
   52  and insert:
   53         meetings; revising requirements relating to the
   54         adoption of assessments; amending s. 720.306, F.S.;