FL S0948

Extends the expiration date of Florida's drywall assessment provisions from July 1, 2017 to July 1, 2025, requiring legislative reenactment by that date to continue the law.

Requires property appraisers to adjust assessed values of single-family residential properties affected by imported or domestic drywall containing elevated elemental sulfur levels that cause metal corrosion.

Allows properties with drywall that cannot be used for intended purpose without remediation to be assessed at nominal value of $0.

Applies only to properties where the drywall was unknown to the purchaser at time of purchase and has significant negative impact on property value.

Permits homeowners to vacate homestead properties for remediation without losing homestead status, and allows reassessment as if the drywall was never present after repairs are substantially completed.