Flood Disclosures

Added requirement that tenants must surrender possession of the premises to the landlord when terminating a rental agreement due to undisclosed flood damage.

Added new disclosure requirements for mobile home park owners, including specific language about homeowners and renters insurance not covering flood damage.

Clarified that 'substantial loss or damage' for mobile home parks includes both the mobile home and personal property, not just personal property.

Established October 1, 2025 as the effective date for the act.

Minor formatting and numbering changes in the statutory text, including renumbering of subsections in some sections.

Added the Rules Committee as a co-sponsor alongside the Judiciary Committee and Senator Bradley.

Updated the bill title to more comprehensively list all affected property types (condominiums, cooperatives, mobile home parks).

Changed the effective date from unspecified to October 1, 2025.

Reorganized the bill text to use consistent section numbering and formatting across all amendments.

Adjusted some wording in disclosure forms for consistency, such as changing 'dwelling unit' to 'property' in certain contexts and adding checkboxes to the seller disclosure form.

Consolidated similar disclosure requirements across different property types to improve readability.

Added requirements for mobile home park owners to provide flood disclosures to prospective lessees, mirroring the requirements for residential landlords and condominium developers.

Added new Section 5 requiring park owners to provide flood disclosure forms, refund advance payments, and allow lessees to terminate agreements if they suffer substantial flood damage due to nondisclosure.

Added 'substantial loss' definition for mobile home park lessees, specifying that damage must be 50% or more of the mobile home and personal property's market value.

Established October 1, 2025 as the effective date for all new requirements in the bill.