FL S1208

Expands the REEF program to finance qualifying improvements including energy efficiency, renewable energy, flood/storm resistance, wastewater treatment, environmental health hazards, and water conservation on residential and commercial properties.

Allows local governments to enter into agreements with program administrators to administer REEF programs and finance qualifying improvements through non-ad valorem assessments.

Requires program administrators to conduct ability-to-pay assessments for residential properties, with stricter income verification (maximum 10% of household income) for assessments exceeding $4,800 annually.

Mandates program administrators provide residential property owners with detailed financing disclosures, conduct recorded telephone calls using plain language, and allow a 3-business-day cancellation period without penalties.

Prohibits certain financing practices on residential property including negative amortization, balloon payments, and prohibits contractors from charging higher prices for improvements financed through REEF programs; establishes contractor enrollment and vetting requirements.