Bill > S0250

This bill: - Authorizes the Department of Revenue to provide information on taken state workforce housing tax credits to the Florida Housing Finance Corporation. - Replaces provisions relating to the State Housing Tax Credit Program with provisions relating to the State Workforce Housing Tax Credit Program. - Provides for an insurance premium and retaliatory tax credit to certain workforce housing developments. - Authorizes certain taxpayers to claim a credit against the premium tax and retaliatory tax for investments in eligible workforce housing developments that meet certain criteria. - Establishes procedures for the Florida Housing Finance Corporation to administer the new State Workforce Housing Tax Credit Program, including making preliminary and final agency awards of tax credits and issuing eligibility statements. - Allows any excess tax credits to be carried forward for up to 11 years. - Includes provisions to recapture and audit the tax credits if the eligible workforce housing development does not maintain compliance. The key provisions of this bill are aimed at creating a new state housing finance strategy to provide affordable workforce housing opportunities, particularly for essential services personnel, through a tax credit program administered by the Florida Housing Finance Corporation.

Budget and Finance, Health and Social Services

Community Affairs (Senate)

https://www.flsenate.gov/Session/Bill/2019/250