Again, in a budget adopted by an association that is required to obtain a structural integrity reserve study, reserves must be maintained for these items:

1. Roof.
2. Structure, includingload-bearing walls and or other primary structural members and primary structural systems as those terms are defined in s. 627.706.
3. Floor.
4. Foundation.
5. Fireproofing and fire protection systems.
6. Plumbing.
7. Electrical systems.
8. Waterproofing and exterior painting.
9. Windowsand exterior doors.
10. Any other item that has a deferred maintenance expense or replacement cost that exceeds $10,000 and the failure to replace or maintain such item negatively affects the items listed in sub-subparagraphs a.-g. as determined by thelicensed engineer or architect performing the visual inspection portion of the structural integrity reserve study.

This applies only where the association is responsible for these items pursuant to the declaration of condominium, and the reserve amount for such items must be based on the findings and recommendations of the association’s most recent structural integrity reserve study. With respect to items for which an estimate of useful life is not readily ascertainable or with an  estimated remaining useful life of greater than 25 years, an association is not required to reserve replacement costs for such items, but an association must reserve the amount of deferred maintenance expense, if any, which is recommended by the structural integrity reserve study for such items. So, it’s now up to the reserve guy who may say a useful life cannot be ascertained or the estimated life is greater than 25 years and therefore no reserve for these items are necessary.

The association may adjust replacement reserve assessments annually to take into account an inflation adjustment and any changes in estimates or extension of the useful life of a reserve item caused by deferred maintenance. The members of a unit-owner controlled association may determine, by a majority vote of the total voting interests at a duly called meeting of the association, to provide no reserves or less reserves than required by this subsection.   This is a change from a majority vote of only a quorum.  This only applies until 2026.

 

For a budget adopted on or after Effective December 31, 2024, (So starting in 2026) the members of a unit-owner controlled association that must obtain a structural integrity reserve study may not determine to provide no reserves or less reserves than required by this subsection for items listed in paragraph (g), except that members of an association operating a multicondominium may determine to provide no reserves or less reserves than required by this subsection if an alternative funding method has been approved by the division.

Reserve funds and any interest accruing thereon shall remain in the reserve account or accounts, and may be used only for authorized reserve expenditures unless their use for other purposes is approved in advance by a majority vote of all the total voting interests.  This is a change from a majority vote of only a quorum.

  

For a budget adopted on or after Effective December 31, 2024, members of a unit-owner-controlled association that must obtain a structural integrity reserve study may not vote to use reserve funds, or any interest accruing thereon, that are reserved for items listed in paragraph (g) for any other purpose  other than the replacement or deferred maintenance costs of the components listed in paragraph (g).

So mandatory SIRS RESERVES START IN 2026