Governor vetoes FAR-supported condo bill

TALLAHASSEE, Fla. – June 2, 2009 – Few Realtor-supported bills fell victim to Gov. Charlie Crist’s veto pen this session, save one. Late yesterday, the governor vetoed a condominium insurance bill sponsored by Sen. Dennis Jones (D-Seminole).

In his veto letter, the governor said he supports provisions of SB 714 that repealed the requirement for mandatory property insurance coverage on individual units. But he disliked a provision that delays retrofit requirements for certain sprinkler systems used for common areas from 2014 to 2025.

“I am sensitive to the costs associated with installing fire sprinkler systems, especially in these challenging times,” the governor wrote. “[But] this delay presents an unacceptable safety risk, especially to Florida’s elderly condominium residents.”

The governor has directed the Department of Business and Professional Regulation to study the cost and impact of retrofits on insurance premiums, and recommend solutions to the 2010 Legislature.

© 2009 FLORIDA ASSOCIATION OF REALTORS®

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