FAR’s Great American Realtor Days kicks off in Tallahassee
 

TALLAHASSEE, Fla. – April 11, 2007 – More than 1,000 Realtors traveled to Tallahassee yesterday for the Florida Association of Realtors®’ (FAR) 2007 Great American Realtor Days’ events. In a coordinated effort with local boards and associations, FAR members started meeting with their local senators and representatives on property tax reform, affordable housing, property insurance and other housing issues. The event continues through today.

The annual trek to Tallahassee occurred during a week in which housing issues took center stage. The Senate is expected to release its property tax reform package shortly. Earlier in the week, Senate Banking and Insurance Committee Chairman Bill Posey (R-Rockledge) rolled out several highly anticipated property insurance reform bills, each of which was approved during the proceedings. SB 1866 is the Senate’s version of the HB 1A “glitch” bill, which was passed during the special session. SB 1864 deals with hurricane mitigation. Both of these bills resemble their House counterparts somewhat.

In a rare move for a governor, Gov. Charlie Crist testified in support of another insurance bill, SB 2498 by Sen. Rudy Garcia (R-Miami). This bill would allow homeowners to opt for coverage from the state-run insurer if they have an offer from a private insurer that’s 15 percent higher than the premium charged by Citizens. What’s more, homeowners would be allowed to stay with Citizens regardless of the rate offered by a private market insurance company. The bill would also outlaw pup companies (or Florida-only subsidiaries of large insurance firms created to isolate Florida’s market) and requires the Office of Insurance Regulation (OIR) to take into consideration the profits of parent companies when approving insurance rates.

The Senate Regulated Industries Committee also unanimously passed SB 2234 by Sen. Steve Wise (R-Jacksonville), which would provide licensure and regulation of home inspectors, mold assessors and remediators – but exempt from law engineers, architects, building code administrators, real estate appraisers and fire safety inspectors. The bill would also require examination for licensure that includes the completion of a 120-hour course of study, and require 14 hours of continuing education every 2 years.

Also this week, Gov. Charlie Crist signed legislation that could double the additional homestead exemption available to low-income seniors. HB 333 by Rep. Carlos Lopez-Cantera (R-Miami) implements a constitutional amendment approved by voters that increases the local option for homestead exemption from $25,000 to $50,000 for individuals age 65 and older whose income does not exceed $23,414 in 2007. The increased exemption applies only to cities and counties, not to school districts or special districts. If local governments have already implemented the additional $25,000 exemption for low-income seniors, the legislation allows them to increase the exemption to $50,000 for the 2007 tax year. Currently, 53 counties and 158 cities have already implemented the additional exemption.
 

© 2007 FLORIDA ASSOCIATION OF REALTORS®