FL S0748

Creates the "Florida Keys Property Rights Protection Act" to establish how damages are divided in property rights lawsuits within designated areas of critical state concern (including Big Cypress, Green Swamp, Key West, Florida Keys, and Apalachicola Bay areas)

Requires state courts to split awards 50/50 between the state and local government for inverse condemnation claims when both are found liable and the development restriction was mandated or approved by the state under section 380.05

Mandates separate judgments be entered against the state and local government, with each entity only liable for post-judgment interest on its own portion

Requires the state to reimburse local governments for 50% of amounts paid on any joint and several judgments entered before the act's enactment that meet the qualifying conditions

Obligates the state to reimburse local governments for 50% of federal court awards in property rights cases involving state-mandated or state-approved land development regulations