FL S1122

Increases minimum damages for associations' willful failure to provide record access from $50 to $500 per day (up to 30 days) and creates a cause of action against community association managers or firms for denying access to records.

Requires homeowners' associations to submit annual reports to the Division of Florida Condominiums, Timeshares, and Mobile Homes starting November 22, 2016, and resubmit upon material changes in association information.

Establishes a $2 per lot annual fee that homeowners' associations must pay to the department to cover administrative and operational costs, unless revenues are determined to exceed necessary costs.

Modifies developer control transition by creating multiple threshold triggers (rather than a single "earlier of" standard) based on community size, including timeframes for lot conveyance and mandatory 10 or 20-year timeframes depending on number of lots.

Authorizes the department to provide binding arbitration for disputes involving covenants, assessments, and official records; requires sellers to provide prospective buyers with governing documents at least 7 days before closing with a 3-day termination right; and creates causes of action against developers for abandonment or failure to maintain disclosed amenities and for misuse of association funds.