HB 655 2024
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
A bill to be entitled 1
An act relating to the Condominium Windstorm Pilot 2
Program; amending s. 627.351, F.S.; requiring the 3
Office of Insurance Regulation to establish the 4
Condominium Windstorm Pilot Program for a specified 5
purpose; requiring the office to submit certain 6
information to the Legislature by a date certain; 7
authorizing the office to adopt rules; providing for 8
the expiration of the pilot program; requiring a 9
majority vote of the total voting interests of a 10
condominium association in order to participate in the 11
pilot program; providing requirements for associations 12
to participate in the pilot program; requiring 13
insurance policies issued under the pilot program to 14
align with the reserves of an association; providing 15
requirements for associations participating in the 16
pilot program; authorizing the office, in 17
collaboration with other stakeholders, to create 18
certain educational materials; amending s. 718.111, 19
F.S.; authorizing asso ciations to participate in the 20
pilot program beginning on a date certain; conforming 21
provisions to changes made by the act; providing an 22
effective date. 23
24
Be It Enacted by the Legislature of the State of Florida: 25
HB 655 2024
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
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Section 1. Paragraph (nn) is added to subsection (6) of 27
section 627.351, Florida Statutes, to read: 28
627.351 Insurance risk apportionment plans. — 29
(6) CITIZENS PROPERTY INSURANCE CORPORATION. — 30
(nn) The office shall establish the Condominium Windstorm 31
Pilot Program to provide insurance c overage to residential 32
condominium associations which covers the actual cash value of 33
the roof of a participating condominium, rather than the 34
replacement cost value. The office shall create a schedule of 35
depreciation and any other requirements for the pro gram and 36
submit such information to the President of the Senate and the 37
Speaker of the House of Representatives by December 31, 2024. 38
The office may adopt rules to implement this paragraph. This 39
paragraph expires July 1, 2029. 40
1. A residential condominiu m association must receive 41
approval by a majority vote of the total voting interests of the 42
association to participate in the pilot program. The vote may 43
take place at the annual budget meeting of the association or at 44
a condominium unit owner meeting call ed for the purpose of 45
taking such vote. Before a vote of the condominium unit owners 46
may be taken, the association must provide to the condominium 47
unit owners a clear disclosure of the pilot program on a form 48
created by the office. The president and treasu rer of the 49
association must sign the disclosure form indicating that a copy 50
HB 655 2024
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
of the form was provided to each condominium unit owner of the 51
association. The signed disclosure form and the minutes from the 52
meeting at which the condominium unit owners voted t o 53
participate in the pilot program must be maintained as part of 54
the official records of the association and be provided to the 55
corporation at initial issuance of the policy and as part of the 56
association's annual policy renewal process. Within 14 days 57
after an affirmative vote to participate in the pilot program, 58
the association must provide written notice in the same manner 59
as required under s. 718.112(2)(d) to all condominium unit 60
owners of the decision to participate in the pilot program. 61
2. An insurance policy issued under the pilot program must 62
ensure that the actual cash value of the residential condominium 63
association's roof aligns with the reserves required under s. 64
718.112(2)(f). 65
3. A residential condominium association that participates 66
in the pilot program must have biannual roof inspections and 67
submit such inspections, along with the association's most 68
recent structural integrity reserve study, if required, to the 69
corporation at initial issuance of the policy and as part of the 70
association's annual policy renewal process. 71
4. The office may collaborate with the corporation and 72
other relevant stakeholders to develop educational materials 73
that inform residential condominium associations and its members 74
about the pilot program and the importance of maintaining and 75
HB 655 2024
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
documenting roof upkeep. 76
Section 2. Paragraph (p) is added to subsection (11) of 77
section 718.111, Florida Statutes, to read: 78
718.111 The association. — 79
(11) INSURANCE.—In order to protect the safety, health, 80
and welfare of the pe ople of the State of Florida and to ensure 81
consistency in the provision of insurance coverage to 82
condominiums and their unit owners, this subsection applies to 83
every residential condominium in the state, regardless of the 84
date of its declaration of condomi nium. It is the intent of the 85
Legislature to encourage lower or stable insurance premiums for 86
associations described in this subsection. 87
(p) Beginning July 1, 2024, a residential condominium 88
association may participate in the Condominium Windstorm Pilot 89
Program under s. 627.351(6)(nn). This paragraph expires July 1, 90
2029. 91
Section 3. This act shall take effect July 1, 2024. 92