Florida 2025 Regular Session

Florida House Bill H1593 Compare Versions

Only one version of the bill is available at this time.

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10	10	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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14	14	A bill to be entitled 1
15	15	An act relating to ownership of single -family 2
16	16	residential property by business entities; providing a 3
17	17	short title; creating s. 692.041, F.S.; providing 4
18	18	definitions; prohibiting certain business entities 5
19	19	from purchasing, acquiring, or otherwise obtaining 6
20	20	certain property and subsequently leasing or renting 7
21	21	such property; specifying that certain sellers are not 8
22	22	liable for certain violations; authorizing the 9
23	23	Attorney General to bring a civil action; providing 10
24	24	remedies; providing construction; providing an 11
25	25	effective date. 12
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27	27	Be It Enacted by the Legislature of the State of Florida: 14
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29	29	Section 1. This act may be cited as the " Real Affordable 16
30	30	Housing Relief Act." 17
31	31	Section 2. Section 692.041, Florida Statutes, is created 18
32	32	to read: 19
33	33	692.041 Single-family residential property. — 20
34	34	(1) As used in this section, the term: 21
35	35	(a) "Business entity" means an association, a company, a 22
36	36	firm, a partnership, a corporatio n, a limited liability company, 23
37	37	a limited liability partnership, a real estate investment trust, 24
38	38	or any other legal entity, and such entity's successors, 25
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47	47	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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51	51	assignees, or affiliates. The term does not include: 26
52	52	1. A nonprofit corporation or other nonprofit l egal 27
53	53	entity. 28
54	54	2. A person or entity primarily engaged in the 29
55	55	acquisition, rehabilitation, or construction of new or existing 30
56	56	market rate or affordable residential housing. As used in this 31
57	57	subparagraph, the term "affordable" has the same meaning as in 32
58	58	s. 420.0004. 33
59	59	(b) "Single-family residential property" means a single 34
60	60	parcel of real property improved with only one detached dwelling 35
61	61	unit on it for which a certificate of occupancy has been issued. 36
62	62	(2)(a) A business entity that has an interest in more tha n 37
63	63	100 single-family residential properties in this state may not 38
64	64	purchase, acquire, or otherwise obtain an ownership interest in 39
65	65	another single-family residential property and subsequently 40
66	66	lease or rent such property. 41
67	67	(b) The seller of single -family residential property to a 42
68	68	business entity is not liable for any violation of this section 43
69	69	by the business entity. 44
70	70	(3) The Attorney General may bring a civil action for a 45
71	71	violation of this section. If the Attorney General prevails in a 46
72	72	civil action brought un der this section, the court must order 47
73	73	all of the following: 48
74	74	(a) A civil penalty of $100,000 against the business 49
75	75	entity for each violation. 50
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84	84	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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88	88	(b) Require the business entity to sell the single -family 51
89	89	residential property to a natural person or an independent third 52
90	90	party within 1 year after the date the court enters the 53
91	91	judgment. 54
92	92	(c) Reasonable attorney fees and costs. 55
93	93	(4) Subsection (3) is the exclusive remedy for a violation 56
94	94	of this section. 57
95	95	Section 3. This act shall take effect July 1, 2025. 58