Fla. Admin. Code Ann. R. 73C-60.003 - Registration

(1) The Department will provide a means, accessible through the Department's website at www.floridajobs.org, for individuals to determine the proximity of real property to a military installation or a critical infrastructure facility in Florida.

(2) Registration for Real Property Owned or Acquired Prior to July 1, 2023

(a) A foreign principal who owns or acquires an interest, other than a de minimis indirect interest, in real property on or within 10 miles of any military installation or critical infrastructure facility in Florida prior to July 1, 2023, must register with the Department in accordance with this rule.

(b) A foreign principal must register with the Department on or before December 31, 2023, to be deemed timely registered.

(c) A foreign principal who registers after January 31, 2024, shall be deemed late and will have fines assessed in accordance with rule 73C-60.005, F.A.C.

(3) Registration for Real Property Purchased on or After July 1, 2023, as Authorized Under Section 692.203(4), F.S.

(a) A foreign principal who is a natural person who purchases, other than a de minimis indirect interest, one residential real property that is 2 acres or less and is on or within 10 miles of any military installation or critical infrastructure facility in Florida but is not on or within 5 miles of any military installation on or after July 1, 2023, must register with the Department within 30 days after the property is owned or acquired.

(b) If the foreign principal who is a natural person purchases the real property between July 1, 2023, and the effective date of this rule, the foreign principal will have 30 days from the effective date of this rule to register with the Department to be deemed timely registered.

(4) Registration for Real Property Acquired on or After July 1, 2023, as Authorized Under Section 692.203(5), F.S.

(a) A foreign principal who acquires real property or any interest therein, other than a de minimis indirect interest, on or after July 1, 2023, by devise or descent, through the enforcement of security interests, or through the collection of debts, must register with the Department within 30 days after the property is owned or acquired by the foreign principal.

(b) If the foreign principal acquired the real property or any interest therein between July 1, 2023, and the effective date of this rule, the foreign principal will have 30 days from the effective date of this rule to register with the Department to be deemed timely registered.

(c) The foreign principal must submit an updated registration Form COM-73C-60, Foreign Principal Real Property Registration Form, effective 01/2024, which is incorporated by reference and available at http://flrules.org/Gateway/reference.asp?No=Ref-16302 or, when available, using the online registration system on the Department's website at http://www.floridajobs.org, within three years of acquiring the real property demonstrating the sale, transfer, or other divestment of such real property.

(d) A foreign principal who registers more than 30 days after the real property is owned or acquired shall be deemed late and will have fines assessed in accordance with rule 73C-60.005, F.A.C.

(5) Registration for Real Estate Contracts

(a) A foreign principal who obtains equitable title by executing a real estate contract with the obligation of closing to obtain legal title within 90 days shall register the real property that is the subject of the contract within 30 days of acquiring legal title. A foreign principal who obtains equitable title by executing a real estate contract without the obligation of closing to obtain legal title within 90 days shall register the real property that is the subject of the contract within 120 days of acquiring equitable title.

(6) Registration Method

(a) Each foreign principal who is required to register their real property with the Department must do so either by utilizing and submitting Form COM-73C-60, Foreign Principal Real Property Registration Form, effective 01/2024, which is incorporated by reference and available on the internet at: http://flrules.org/Gateway/reference.asp?No=Ref-16302 or, when available, using the online registration system on the Department's website at http://www.floridajobs.org.

(7) Updated Registrations

(a) A foreign principal must update their registration with the Department if any of the following occur:

1. The foreign principal sold the real property;

2. The foreign principal no longer owns the real property;

3. The foreign principal's real property is no longer within 10 miles of any military installation or critical infrastructure facility in Florida;

4. The foreign principal no longer has any interest in the real property; or

5. The foreign principal no longer meets the definition of a foreign principal as that term is defined in section 692.201, F.S.

(b) A foreign principal's registration must be updated by either submitting Form COM-73C-60, Foreign Principal Real Property Registration Form, effective 01/2024, which is incorporated by reference and available at http://flrules.org/Gateway/reference.asp?No=Ref-16302 or, when available, using the online registration system on the Department's website at http://www.floridajobs.org.

(c) A foreign principal who fails to file an updated registration as required by this rule is not subject to the penalties imposed by section 692.203, F.S., or Department of Commerce Rules 73C-60.005 and 73C-60.006, F.A.C.

(8) The prohibition and registration requirements prescribed by section 692.203, F.S., shall not apply with respect to any interest that is a de minimis indirect interest.

Notes

Fla. Admin. Code Ann. R. 73C-60.003

Rulemaking Authority 692.203(10) FS. Law Implemented 692.203 FS.

Adopted by Florida Register Volume 49, Number 244, December 19, 2023 effective 1/4/2024.

New 1-4-24.