Florida Senate - 2023                        COMMITTEE AMENDMENT
       Bill No. CS for SB 950
                              LEGISLATIVE ACTION                        
                    Senate             .             House              

       The Committee on Fiscal Policy (Rodriguez) recommended the
    1         Senate Amendment (with title amendment)
    3         Delete lines 121 - 637
    4  and insert:
    5         (b)“Commercial property” means real property not defined
    6  as residential property which will be or has been improved by a
    7  qualifying improvement, including, but not limited to, the
    8  following:
    9         1.A multifamily residential property composed of five or
   10  more dwelling units;
   11         2.A commercial real property;
   12         3.An industrial building or property;
   13         4.An agricultural property;
   14         5.A nonprofit-owned property;
   15         6.A long-term care facility, including nursing homes and
   16  assisted living facilities; or
   17         7.A government commercial property.
   18         (c) “Financing agreement” means an agreement, under a
   19  qualifying improvement program, between a local government and a
   20  property owner to finance the acquisition or installation of
   21  qualifying improvements through a non-ad valorem assessment.
   22         (d)“Government commercial property” means real property
   23  owned by a local government and leased to a nongovernmental
   24  lessee when the usage by the lessee meets the definition of
   25  commercial property.
   26         (e)(a) “Local government” means a county, a municipality, a
   27  dependent special district as defined in s. 189.012, or a
   28  separate legal entity created pursuant to s. 163.01(7).
   29         (f)“Non-ad valorem assessment” or “assessment” has the
   30  same meaning as the term “non-ad valorem assessment” as defined
   31  in s. 197.3632(1)(d).
   32         (g)“Nongovernmental lessee” means a person or an entity
   33  other than a local government which leases government commercial
   34  property.
   35         (h)“Program administrator” means an entity, including, but
   36  not limited to, a for-profit or not-for-profit entity, with
   37  which a local government may contract to administer all or part
   38  of a qualifying improvement program under this section.
   39         (i)(b) “Qualifying improvement” means a program established
   40  under this section by a local government, alone or in
   41  partnership with other local governments or a program
   42  administrator, to finance qualifying improvements on real
   43  property and includes any:
   44         1. Energy conservation and efficiency improvement, which is
   45  a measure to reduce consumption through conservation or a more
   46  efficient use of electricity, natural gas, propane, or other
   47  forms of energy on the property, including, but not limited to,
   48  air sealing; installation of insulation; installation of energy
   49  efficient heating, cooling, or ventilation systems; building
   50  modifications to increase the use of daylight; replacement of
   51  windows; installation of energy controls or energy recovery
   52  systems; installation of electric vehicle charging equipment;
   53  and installation of efficient lighting equipment.
   54         2. Renewable energy improvement, which is the installation
   55  of any system in which the electrical, mechanical, or thermal
   56  energy is produced from a method that uses one or more of the
   57  following fuels or energy sources: hydrogen, solar energy,
   58  geothermal energy, bioenergy, and wind energy.
   59         3. Wind resistance improvement, which includes, but is not
   60  limited to:
   61         a. Improving the strength of the roof deck attachment;
   62         b. Creating a secondary water barrier to prevent water
   63  intrusion;
   64         c. Installing wind-resistant shingles;
   65         d. Installing gable-end bracing;
   66         e. Reinforcing roof-to-wall connections;
   67         f. Installing storm shutters; or
   68         g. Installing opening protections.
   69         4.Wastewater improvement, which includes, but is not
   70  limited to:
   71         a.The removal, replacement, or improvement of an onsite
   72  sewage treatment and disposal system with a secondary or
   73  advanced onsite sewage treatment and disposal system or
   74  technology;
   75         b.The replacement or conversion of an onsite sewage
   76  treatment and disposal system to a central sewerage system or
   77  distributed sewerage system, including, but not limited to, the
   78  installation of a sewer lateral and anything necessary to
   79  connect the onsite sewage treatment and disposal system or the
   80  building’s plumbing to a central sewerage system or distributed
   81  sewerage system; or
   82         c.Any removal, repairs, or modifications made to an onsite
   83  sewage treatment and disposal system, including any repair,
   84  modification, or replacement of a system required under a local
   85  ordinance enacted pursuant to ss. 381.0065 and 381.00651.
   86         5.Flood and water damage mitigation and resiliency
   87  improvement, which includes, but is not limited to, projects and
   88  installation for:
   89         a.The raising of a structure above the base flood
   90  elevation to reduce flood damage;
   91         b.A flood diversion apparatus or seawall improvement,
   92  which includes seawall repairs and seawall replacements;
   93         c.Flood-resistant building materials;
   94         d.Electrical, mechanical, plumbing, or other system
   95  improvements that reduce flood damage; or
   96         e.Other improvements that qualify for reductions in flood
   97  insurance premiums.
   98         6.Environmental health improvement, which is an
   99  improvement or measure intended to mitigate harmful
  100  environmental health effects to property occupants, including,
  101  but not limited to, measures that do any of the following:
  102         a.Mitigate the presence of lead, heavy metals,
  103  polyfluoroalkyl substance contamination, or other harmful
  104  contaminants in potable water systems, such as conversion of
  105  well water to municipal water systems, replacing lead water
  106  service lines, or installing water filters;
  107         b.Mitigate lead paint contamination in housing built
  108  before 1978; or
  109         c.Mitigate indoor air pollution or contaminants, such as
  110  particulate matter, viruses, bacteria, and mold.
  111         7.Sustainable buildings, or any other improvements
  112  necessary to achieve a sustainable building rating or compliance
  113  with a national model green building code.
  114         (j) “Residential property” means a residential real
  115  property composed of four or fewer dwelling units.
  116         (k)“Resiliency Energy Environment Florida (REEF) program”
  117  means a program established by a local government, alone or in
  118  partnership with other local governments or a program
  119  administrator, to finance qualifying improvements on commercial
  120  property or residential property.
  121         (4) Subject to local government ordinance or resolution, a
  122  property owner may apply to the REEF program local government
  123  for funding to finance a qualifying improvement and enter into
  124  an assessment a financing agreement with the local government.
  125  Costs incurred by the REEF program local government for such
  126  purpose may be collected as a non-ad valorem assessment. A non
  127  ad valorem assessment shall be collected pursuant to s. 197.3632
  128  and, notwithstanding s. 197.3632(8)(a), shall not be subject to
  129  discount for early payment. However, the notice and adoption
  130  requirements of s. 197.3632(4) do not apply if this section is
  131  used and complied with, and the intent resolution, publication
  132  of notice, and mailed notices to the property appraiser, tax
  133  collector, and Department of Revenue required by s.
  134  197.3632(3)(a) may be provided on or before August 15 in
  135  conjunction with any non-ad valorem assessment authorized by
  136  this section, if the property appraiser, tax collector, and
  137  local government agree.
  138         (6) A local government may enter into an agreement with a
  139  program administrator to administer a REEF program on behalf of
  140  the local government A qualifying improvement program may be
  141  administered by a for-profit entity or a not-for-profit
  142  organization on behalf of and at the discretion of the local
  143  government.
  144         (7) A local government may incur debt for the purpose of
  145  providing financing for qualifying such improvements, which debt
  146  is payable from revenues received from the improved property, or
  147  from any other available revenue source authorized under this
  148  section or by other law.
  149         (8) A local government may enter into an assessment a
  150  financing agreement to finance or refinance a qualifying
  151  improvement only with the record owner of the affected property.
  152  Any assessment financing agreement entered into pursuant to this
  153  section or a summary memorandum of such agreement shall be
  154  submitted for recording recorded in the public records of the
  155  county within which the property is located by the sponsoring
  156  unit of local government within 10 5 days after execution of the
  157  agreement. The recorded agreement shall provide constructive
  158  notice that the assessment to be levied on the property
  159  constitutes a lien of equal dignity to county taxes and
  160  assessments from the date of recordation. A notice of lien for
  161  the full amount of the financing may be recorded in the public
  162  records of the county where the property is located. Such lien
  163  is not enforceable in a manner that results in the acceleration
  164  of the remaining nondelinquent unpaid balance under the
  165  assessment financing agreement.
  166         (9) Before entering into an assessment a financing
  167  agreement, the local government, or the program administrator
  168  acting on its behalf, shall reasonably determine that all of the
  169  following conditions are met:
  170         (a) All property taxes and any other assessments levied on
  171  the same bill as property taxes are current paid and have not
  172  been delinquent for more than 30 days for the preceding 3 years
  173  or the property owner’s period of ownership, whichever is less.;
  174         (b)that There are no involuntary liens greater than
  175  $1,000, including, but not limited to, construction liens on the
  176  property.;
  177         (c)that No notices of default or other evidence of
  178  property-based debt delinquency have been recorded and not
  179  released during the preceding 3 years or the property owner’s
  180  period of ownership, whichever is less.;
  181         (d)The local government or program administrator has asked
  182  the property owner whether any other assessments under this
  183  section have been recorded or have been funded and not yet
  184  recorded on the property. The failure of a property owner to
  185  disclose information set forth in this paragraph does not
  186  invalidate an assessment financing agreement or any obligation
  187  thereunder, even if the total financed amount of the qualifying
  188  improvements exceeds the amount that would otherwise be
  189  authorized under paragraph (12)(a).
  190         (e)and that The property owner is current on all mortgage
  191  debt on the property.
  192         (f)The residential property is not subject to an existing
  193  home equity conversion mortgage or reverse mortgage product.
  194  This paragraph does not apply to commercial property.
  195         (g)The property is not currently a residential property
  196  gifted to a homeowner for free by a nonprofit entity as may be
  197  disclosed by the property owner. The failure of a property owner
  198  to disclose information set forth in this paragraph does not
  199  invalidate an assessment financing agreement or any obligation
  200  thereunder. This paragraph does not apply to commercial
  201  property.
  202         (10) Before final funding may be provided, a qualifying
  203  improvement must shall be affixed or planned to be affixed to a
  204  commercial property or residential building or facility that is
  205  part of the property and constitutes shall constitute an
  206  improvement to that property the building or facility or a
  207  fixture attached to the building or facility. An assessment
  208  financing agreement may between a local government and a
  209  qualifying property owner may not cover qualifying wind
  210  resistance improvements on commercial property under new
  211  construction or residential property in buildings or facilities
  212  under new construction or construction for which a certificate
  213  of occupancy or similar evidence of substantial completion of
  214  new construction or improvement has not been issued.
  215         (11) Any work requiring a license under any applicable law
  216  to make a qualifying improvement shall be performed by a
  217  contractor properly certified or registered pursuant to part I
  218  or part II of chapter 489, as applicable. A financing agreement
  219  may be executed for qualifying improvements in the construction
  220  of a commercial property before a certificate of occupancy or
  221  similar evidence of substantial completion of new construction
  222  or improvement is issued. Progress payments, or payments made
  223  before completion, are allowed for commercial properties,
  224  provided that the property owner subsequently provides, upon
  225  request for a final progress payment disbursement, written
  226  verification to the local government confirming that the
  227  qualifying improvements are completed and operating as intended.
  228         (12)(a) Without the consent of the holders or loan
  229  servicers of any mortgage encumbering or otherwise secured by
  230  the property, the total amount of any non-ad valorem assessment
  231  for a property under this section may not exceed 20 percent of
  232  the fair market just value of the property as determined by the
  233  county property appraiser. The combined mortgage-related debt
  234  and total amount of any non-ad valorem assessments funded under
  235  this section for residential property may not exceed 97 percent
  236  of the fair market value of the residential property. However,
  237  the failure of a property owner to disclose information set
  238  forth in paragraph (9)(d) does not invalidate an assessment
  239  financing agreement or any obligation thereunder, even if the
  240  total financed amount of the qualifying improvements exceeds the
  241  amount that would otherwise be authorized under this paragraph.
  242  For purposes of this paragraph, fair market value may be
  243  determined using reputable third parties.
  244         (b) Notwithstanding paragraph (a), a non-ad valorem
  245  assessment for a qualifying improvement defined in subparagraph
  246  (2)(i)1. (2)(b)1. or subparagraph (2)(i)2. which (2)(b)2. that
  247  is supported by an energy audit is not subject to the limits in
  248  this subsection if the audit demonstrates that the annual energy
  249  savings from the qualified improvement equals or exceeds the
  250  annual repayment amount of the non-ad valorem assessment.
  251         (13) At least 30 days before entering into an assessment a
  252  financing agreement, the property owner shall provide to the
  253  holders or loan servicers of any existing mortgages encumbering
  254  or otherwise secured by the property a notice of the owner’s
  255  intent to enter into an assessment a financing agreement
  256  together with the maximum principal amount to be financed and
  257  the maximum annual assessment necessary to repay that amount. A
  258  verified copy or other proof of such notice shall be provided to
  259  the local government. A provision in any agreement between a
  260  mortgagee or other lienholder and a property owner, or otherwise
  261  now or hereafter binding upon a property owner, which allows for
  262  acceleration of payment of the mortgage, note, or lien or other
  263  unilateral modification solely as a result of entering into an
  264  assessment a financing agreement as provided for in this section
  265  is not enforceable. This subsection does not limit the authority
  266  of the holder or loan servicer to increase the required monthly
  267  escrow by an amount necessary to annually pay the annual
  268  qualifying improvement assessment.
  269         (14) At or before the time a seller purchaser executes a
  270  contract for the sale and purchase of any property for which a
  271  non-ad valorem assessment has been levied under this section and
  272  has an unpaid balance due, the seller must shall give the
  273  prospective purchaser a written disclosure statement in the
  274  following form, which shall be set forth in the contract or in a
  275  separate writing:
  280         HEALTH, OR WIND RESISTANCE.—The property being
  281         purchased is located within the jurisdiction of a
  282         local government that has placed an assessment on the
  283         property pursuant to s. 163.08, Florida Statutes. The
  284         assessment is for a qualifying improvement to the
  285         property relating to energy efficiency, renewable
  286         energy, flood mitigation, advanced technologies for
  287         wastewater removal or environmental health, or wind
  288         resistance, and is not based on the value of property.
  289         This agreement uses a program formerly referred to as
  290         Property Assessed Clean Energy, or PACE. You are
  291         encouraged to contact the county property appraiser’s
  292         office to learn more about this and other assessments
  293         that may be provided by law.
  295         (16)(a)Before final approval of an assessment financing
  296  agreement for a qualifying improvement on a residential
  297  property, a program administrator shall reasonably determine
  298  that the property owner has the ability to pay the estimated
  299  annual assessment. To do so, the program administrator shall, at
  300  a minimum, use the underwriting requirements in subsection (9),
  301  confirm that the property owner is not in bankruptcy, and
  302  determine that the total estimated annual payment amount for all
  303  assessment financing agreements funded under this section on the
  304  property does not exceed 10 percent of the property owner’s
  305  annual household income. Income may be confirmed using
  306  information gathered from reputable third parties that provide
  307  reasonably reliable evidence of the property owner’s household
  308  income. Income may not be confirmed solely by a property owner’s
  309  statement.
  310         (b) In the event that a court or tribunal determines, by
  311  clear and convincing evidence, that the program administrator’s
  312  determination of the property owner’s ability to pay was not
  313  objectively reasonable based on the information provided by the
  314  property owner, the yearly assessment payment shall be reduced
  315  in the amount which is within the property owner’s ability to
  316  pay. This paragraph does not require or authorize the
  317  administrator to reduce the amount owed on the assessment.
  318         (c) The failure of a property owner to disclose information
  319  set forth in paragraph (9)(d) does not invalidate an assessment
  320  financing agreement or any obligation thereunder, even if the
  321  total estimated annual payment amount exceeds the amount that
  322  would otherwise be authorized under this subsection.
  323         (17)Before or contemporaneously with a property owner
  324  signing an assessment financing agreement on a residential
  325  property, the program administrator shall provide a financing
  326  estimate and disclosure to the residential property owner which
  327  includes all of the following:
  328         (a)The total amount estimated to be funded, including the
  329  cost of the qualifying improvements, program fees, and
  330  capitalized interest, if any.
  331         (b)The estimated annual assessment.
  332         (c)The term of the assessment.
  333         (d)The interest charged and estimated annual percentage
  334  rate.
  335         (e)A description of the qualifying improvement.
  336         (f)A disclosure that if the property owner sells or
  337  refinances the property, the property owner, as a condition of
  338  the sale or the refinance, may be required by a mortgage lender
  339  to pay off the full amount owed under each assessment financing
  340  agreement.
  341         (g)A disclosure that the assessment will be collected
  342  along with the property owner’s property taxes and will result
  343  in a lien on the property from the date the assessment financing
  344  agreement is recorded.
  345         (h)A disclosure that failure to pay the assessment may
  346  result in penalties and fees, along with the issuance of a tax
  347  certificate that could result in the property owner losing the
  348  real property.
  349         (18)Before a notice to proceed is issued on residential
  350  property, the program administrator shall conduct with the
  351  residential property owner or an authorized representative an
  352  oral, recorded telephone call. The program administrator shall
  353  ask the residential property owner if he or she would like to
  354  communicate primarily in a language other than English. A
  355  program administrator may not leave a voicemail on the
  356  residential property owner’s or authorized representative’s
  357  telephone to satisfy this requirement. A program administrator,
  358  as part of such telephone call, shall confirm all of the
  359  following with the residential property owner:
  360         (a)That at least one residential property owner has access
  361  to a copy of the assessment financing agreement and financing
  362  estimates and disclosures.
  363         (b)The qualifying improvements being financed.
  364         (c)The total estimated annual costs that the residential
  365  property owner will have to pay under the assessment financing
  366  agreement, including applicable fees.
  367         (d)The total estimated average monthly equivalent amount
  368  of funds the residential property owner would have to save in
  369  order to pay the annual costs of the assessment, including
  370  applicable fees.
  371         (e)The estimated due date of the residential property
  372  owner’s first property tax payment that includes the assessment.
  373         (f)The term of the assessment financing agreement.
  374         (g)That payments for the assessment financing agreement
  375  will cause the residential property owner’s annual property tax
  376  bill to increase, and that payments will be made through an
  377  additional annual assessment on the property and either will be
  378  paid directly to the county tax collector’s office as part of
  379  the total annual secured property tax bill or may be paid
  380  through the residential property owner’s mortgage escrow
  381  account.
  382         (h)That the residential property owner has disclosed
  383  whether the property has received, or the owner is seeking,
  384  additional assessments funded under this section and that the
  385  owner has disclosed all other assessments funded under this
  386  section which are or are about to be placed on the property.
  387         (i)That the property will be subject to a lien during the
  388  term of the assessment financing agreement and that the
  389  obligations under the agreement may be required to be paid in
  390  full before the residential property owner sells or refinances
  391  the property.
  392         (j)That any potential utility or insurance savings are not
  393  guaranteed and will not reduce the assessment or total
  394  assessment amount.
  395         (k)That the program administrator does not provide tax
  396  advice, and the residential property owner should seek
  397  professional tax advice if he or she has questions regarding tax
  398  credits, tax deductibility, or other tax impacts of the
  399  qualifying improvement or the assessment financing agreement.
  400         (19)A residential property owner may cancel an assessment
  401  financing agreement within 3 business days after signing the
  402  assessment financing agreement without any financial penalty
  403  from the program administrator for doing so.
  404         (20)The term of an assessment financing agreement on
  405  residential property may not exceed the lesser of:
  406         (a)Thirty years; or
  407         (b)The greater of either the weighted average estimated
  408  useful life of all qualifying improvements being financed or the
  409  estimated useful life of the qualifying improvements to which
  410  the greatest portion of funds is disbursed.
  411         (21)An assessment financing agreement authorized under
  412  this section on residential property may not include any of the
  413  following financing terms:
  414         (a)A negative amortization schedule. Capitalized interest
  415  included in the original balance of the assessment financing
  416  agreement does not constitute negative amortization.
  417         (b)A balloon payment.
  418         (c)Prepayment fees, other than nominal administrative
  419  costs.
  420         (22)For residential property, a program administrator:
  421         (a)May not enroll a contractor who contracts with
  422  residential property owners to install qualifying improvements
  423  unless:
  424         1.The program administrator makes a reasonable effort to
  425  confirm that the contractor maintains in good standing an
  426  appropriate license from the state, if applicable, as well as
  427  any other permit, license, or registration required for engaging
  428  in business in the jurisdiction in which he or she operates and
  429  that the contractor maintains all state-required bond and
  430  insurance coverage; and
  431         2.The program administrator obtains the contractor’s
  432  written agreement that the contractor will act in accordance
  433  with all applicable laws, including applicable advertising and
  434  marketing laws and regulations.
  435         (b)Shall maintain a process to enroll new contractors
  436  which includes reasonable review of the following for each
  437  contractor:
  438         1.Relevant work or project history.
  439         2.Financial and reputational background checks.
  440         3.A criminal background check.
  441         4.Status on the Better Business Bureau online platform or
  442  another online platform that tracks contractor reviews.
  443         (c)A program administrator may pay or reimburse
  444  contractors for any expense allowable under applicable state law
  445  and not otherwise prohibited under this section, including, but
  446  not limited to, marketing, training, and promotions.
  447         (d) A program administrator may not disclose to a
  448  contractor or to a third party engaged in soliciting a financing
  449  agreement the maximum financing amount for which a residential
  450  property owner is eligible.
  451         (23)Before disbursing funds to a contractor for a
  452  qualifying improvement on residential property, a program
  453  administrator must first confirm that the applicable work or
  454  service has been completed through any of the following:
  455         (a)A written certification from the property owner;
  456         (b)A recorded telephone call with the property owner;
  457         (c)A review of geotagged and time-stamped photographs;
  458         (d)A review of a final permit; or
  459         (e)A site inspection through third-party means.
  460         (24)A program administrator shall comply with the
  461  following marketing and communications guidelines when
  462  communicating with residential property owners:
  463         (a)A program administrator may not represent:
  464         1.That the REEF program or assessment financing is a
  465  government assistance program;
  466         2.That qualifying improvements are free or that assessment
  467  financing is a free program; or
  468         3.That the financing of a qualifying improvement using the
  469  REEF program does not require the property owner to repay the
  470  financial obligation.
  471         (b)A program administrator may not make any representation
  472  as to the tax deductibility of an assessment authorized under
  473  this section. A program administrator may encourage a property
  474  owner to seek the advice of a tax professional regarding tax
  475  matters related to assessments.
  476         (25)A contractor may not present a higher price for a
  477  qualifying improvement on residential property financed by an
  478  assessment financing agreement than the contractor would
  479  otherwise reasonably present if the qualifying improvement was
  480  not being financed through an assessment financing agreement.
  481         (26)A program administrator shall use appropriate
  482  methodologies or technologies to identify and verify the
  483  identity of the residential property owner who executes an
  484  assessment financing agreement.
  485         (27)A program administrator may not provide a contractor
  486  with any payment, fee, or kickback in exchange for referring
  487  assessment financing business relating to a specific assessment
  488  financing agreement on residential property.
  489         (28)A program administrator shall develop and implement
  490  policies and procedures for responding to, tracking, and helping
  491  to resolve questions and property owner complaints as soon as
  492  reasonably practicable.
  493         (29)A program administrator shall maintain a process for
  494  monitoring enrolled contractors that contract with residential
  495  property owners to install qualifying improvements with regard
  496  to performance and compliance with program policies and shall
  497  implement policies for suspending and terminating enrolled
  498  contractors based on violations of program policies or
  499  unscrupulous behavior. A program administrator shall maintain a
  500  policy for determining the conditions on which a contractor may
  501  be reinstated to the program.
  502         (30)A program administrator shall provide, at a reasonable
  503  time following the end of the prior calendar year, an annual
  504  report to the dependent special district as defined in s.
  505  189.012 or a separate legal entity created pursuant to s.
  506  163.01(7) which it has contracted with to administer a REEF
  507  program and shall include information and data related to the
  508  following:
  509         (a)The total number of property owner complaints received
  510  which are associated with project funding in the report year.
  511         (b)Of the total number of property owner complaints
  512  received which are associated with project funding in the report
  513  year:
  514         1.The number and percentage of complaints that relate to
  515  the assessment financing.
  516         2.The number and percentage of complaints that relate to a
  517  contractor or the workmanship of a contractor and are not
  518  related to assessment financing.
  519         3.The number and percentage of complaints that relate to
  520  both a contractor and the assessment financing.
  521         4.The number and percentage of complaints received
  522  pursuant to subparagraphs 1., 2., and 3. which were resolved and
  523  the number and percentage of complaints received pursuant to
  524  subparagraphs 1., 2., and 3. which were not resolved.
  525         (c)The percentage of property owner complaints received
  526  pursuant to subparagraphs (b)1., 2., and 3. expressed as a total
  527  of all projects funded in the report year.
  528         (31)(a)Subsections (16) through (30) do not apply to
  529  residential property if the program administrator reasonably
  530  determines that:
  531         1.The residential property is owned by a business entity
  532  that owns more than four residential properties; and
  533         2.The business entity’s managing member, partner, or
  534  beneficial owner does not reside in the residential property.
  535         (b)Subsections (16) through (30) apply to a program
  536  administrator only when administering a REEF program for
  537  qualifying improvements on residential property. Subsections
  538  (16) through (30) do not apply with respect to a local
  539  government, to residential property owned by a local government,
  540  or to commercial property.
  541         Section 2. This act shall take effect January 1, 2024.
  543  ================= T I T L E  A M E N D M E N T ================
  544  And the title is amended as follows:
  545         Delete lines 19 - 25
  546  and insert:
  547         requirements for qualifying improvements; authorizing
  548         execution of an assessment financing agreement under
  549         certain circumstances; authorizing progress payments
  550         made before completion for commercial properties under
  551         certain circumstances; revising the calculation of
  552         non-ad valorem assessment limits; providing
  553         construction; specifying underwriting, financing
  554         estimate, disclosure, and confirmation requirements
  555         for program administrators relating to residential
  556         property; authorizing a residential property owner,
  557         under certain circumstances and