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Florida lawmakers reintroduce condo safety financing bill with bipartisan support
The Making Condos Safer and Affordable Act would expand access to low-interest, government-backed loans so condominium associations can spread structural and life-safety repair costs over time, rather than rely on large special assessments.
HousingWire reports that Rep. Debbie Wasserman Schultz and Rep. Maria Elvira Salazar have reintroduced the Making Condos Safer and Affordable Act, a bill aimed at easing the cost of major condo safety repairs. The measure, revived around the anniversary of the 2021 Surfside collapse, seeks to expand low-interest, government-backed loans for structural and life-safety work in condominium buildings.
The proposal would let condominium associations spread major repair expenses over time instead of relying on large special assessments. Supporters say the bill is designed to help owners manage new inspection and reserve requirements, which have been accompanied by insurance hikes.
HousingWire adds that Florida has already moved ahead with statewide milestone inspections for older buildings and required structural integrity reserve studies to fund major repairs. Since Surfside, roughly 18 states have introduced condo safety and reserve legislation, with Maryland, Virginia, and Tennessee among those that enacted similar laws.
The bill also lands as zoning and housing policy debates continue to drive more multifamily construction. HousingWire notes that the Community Associations Institute, which has more than 50,000 members, backed the legislation when it was first introduced in 2023, arguing it provides practical long-term financing tools for communities facing infrastructure needs.