An act relating to mortgage fraud; creating s. 193.133,
F.S.; requiring law enforcement agencies to notify
property appraisers of incidents of mortgage fraud;
authorizing property appraisers to reconsider property
assessments under certain circumstances; amending s.
817.545, F.S.; increasing penalties for certain types of
mortgage fraud; providing an effective date.
Be It Enacted by the Legislature of the State of Florida:
Section 1. Section 193.133, Florida Statutes, is created to
193.133 Effect of mortgage fraud on property assessments.--
(1) Upon the finding of probable cause of any person for
the crime of mortgage fraud, as defined in s. 817.545 or any
other fraud involving real property which may have artificially
inflated or could artificially inflate the value of property
affected by the fraud, the arresting agency shall promptly notify
the property appraiser of the county in which the property or
properties are located of the nature of the alleged fraud and the
property or properties affected. If notification as required in
this section would jeopardize or negatively affect a continuing
investigation, notification may be delayed until such time as
notice may be made without such affect.
(2) The property appraiser may adjust the assessment of any
affected real property.
(3) Upon a conviction of fraud as defined in subsection
(1), the property appraiser of the county in which the property
or properties are located shall, if necessary, reassess the
property or properties affected by the fraud.
Section 2. Subsection (5) of section 817.545, Florida
Statutes, is amended to read:
(5)(a) Any person who violates subsection (2) commits a
felony of the third degree, punishable as provided in s. 775.082,
(b) Any person who violates subsection (2) commits a felony
of the second degree, punishable as provided in s. 775.082, s.
used in the mortgage lending process exceeds $100,000.
Section 3. This act shall take effect July 1, 2008.