May 12, 2023
Public Policy Update
With the 2023 legislative session now behind us, Florida Governor Ron DeSantis has begun to receive bills from the legislature for his signature. Once legislation is presented to the governor, he has 15 days from the date of presentation to sign, veto, or allow the legislation to become law without his signature.
To date, the governor has signed 74 bills into law, with a large chunk of those signings occurring this week. Most of the recent bills he has signed have been focused on education policy and healthcare. However, he has signed two bills that we included in our sine die report from last week. The first of those is House Bill 1091, which instructs the Florida Department of Professional and Business Regulation to waive 50% of the initial licensing fee and 50% of a licensee’s renewal fee for the 2023-2024 and 2024-2025 fiscal years. Real estate licensees and appraisers are included in this waiver.
The second bill the governor signed that was in our sine die report is Senate Bill 264, Interests of Foreign Countries. This is a complicated bill as it prohibits the purchase of property by certain foreign nationals. The Department of Economic Opportunity (DEO) and the Florida Real Estate Commission (FREC) are required to implement specific portions of the bill, so there is still a lot of information to come. While we wait for that information to be developed, we will be creating our own documents that help explain what is currently known about the new law. I will let you know when those documents are finished and where to find them.
Lastly, the legislature has not sent their approved budget to the governor yet, but when they do, he has line item veto power over the record $117 billion dollar spending plan. It's important to note this process takes time as the governor’s policy team evaluates each piece of legislation and plans bill signings that accommodate his busy schedule.
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Florida House and Senate Release Interim Committee Schedules for 2024 Session
On Wednesday, the Florida Senate and Florida House released their Interim Committee schedules for next year's legislative session. These are the meetings that help lawmakers prepare for the regular 60-day session that will begin on January 9, 2024. See below for the schedules for each chamber.
Florida Senate:
• Week of October 9 – 13, 2023
• Week of October 16 – 20, 2023
• Week of November 6 – 9, 2023 (Veterans Day observed on Friday, November 10)
• Week of November 13 – 17, 2023
• Week of December 4 – 7, 2023 (Chanukah begins on Thursday, December 7)
• Week of December 11 – 15, 2023
Florida House:
• Week of September 18 – 22, 2023
• Week of October 16 – 20, 2023
• Week of November 6 – 9, 2023 (Veterans Day observed on Friday, November 10)
• Week of November 13 – 17, 2023
• Week of December 4 – 7, 2023 (Chanukah begins on Thursday, December 7)
• Week of December 11 – 15, 2023
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NAR Legislative Meetings Conclude
A good number of your public policy team and other Florida Realtors staff were up in Washington D.C. this week for NAR's annual Legislative Meetings. It was great to meet with our congressional representatives to communicate our needs here in Florida and get a sense of what has been happening in D.C. We also got to network with our peers from other states which is always valuable.
NAR released a run-down of the actions taken by the Board of Directors at the conclusion of the event which you can find here. Of special note, the following policies/recommendations were approved this week:
• Federal Financing and Housing: Approved a recommendation that NAR support policies, regulations and programs that enhance assumable mortgage products for federally insured loan programs (FHA, VA, USDA) and the government-sponsored enterprises.
• Business Issues: Approved a policy that NAR encourage federal efforts and collaboration within the real estate industry to support programs that will expand the workforce in the construction industry to relieve labor and housing shortages.
• Federal Taxation: Approved a recommendation to support tax policy that provides a reduced capital gains tax rate to existing owners (as of the date of enactment) of qualified one- to four-unit rental properties who sell to an owner-occupant. The incentive would have the effect of reducing prices, since investors wouldn’t have to charge as much to yield the same return, and increasing the inventory of available homes for first-time buyers.
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NAR Urges FHFA to Be Transparent in Appraisal Modernization
NAR sent a letter to the Federal Housing Finance Agency (FHFA) regarding appraisal modernization, oversight, and the use of data collectors.
While NAR is supportive of modernization, though a licensed appraiser is the best option, the letter points out that:
• More information about data collectors should be collected and shared,
• A full review of automated valuation models (AVMs) is needed,
• More oversight of the data collected, and privacy issues should be explored,
• The rollout of the data collection program could have impacts on competition in the valuation space and consumer impacts, and
• The GSEs need to stake steps to prevent internalizing the valuation risk.
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DEO Announces $133 Million for Broadband Opportunity Program
On Wednesday, the Florida Department of Economic Opportunity (DEO) announced $133 million in funding is available for broadband Internet projects in the second application cycle through the Broadband Opportunity Program. The program was created to expand broadband Internet service to unserved areas of this state, which will encourage job creation, capital investment and the strengthening and diversification of local economies. Applications will be accepted through Friday, June 23, 2023, and additional information is available on the Broadband Opportunity Program webpage. Eligible applicants include corporations, limited liability companies, general partnerships, and others.
DEO will host a Technical Assistance Webinar on May 24, 2023, at 11 a.m., Eastern Time, to provide technical assistance and an overview of the application process. To register to attend the webinar, visit the Broadband Opportunity Program webpage.
The deadline to submit an application is Friday, June 23, 2023, at 5:00 p.m., Eastern Time. For more information about the Broadband Opportunity Program, the application webinar, and how to apply, visit the Broadband Opportunity Program webpage.
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Please reach out to publicpolicy@floridarealtors.org with any questions you may have.