Bill > S0298

This bill modifies the ad valorem (property) tax exemption requirements for nonprofit homes for the aged in Florida by updating the eligibility criteria for such organizations. Specifically, the bill changes the language regarding how nonprofit corporations or limited partnerships can qualify for the tax exemption. The revised statute now allows for more flexibility by permitting a Florida limited partnership where the sole general partner is either a nonprofit corporation under chapter 617 or an entity not licensed under chapter 429 that is wholly owned by a nonprofit corporation under chapter 617. The nonprofit corporation must still be exempt from federal income taxation under section 501(c)(3) of the Internal Revenue Code, as was previously required. These technical changes aim to broaden the potential organizations that can receive the property tax exemption while maintaining the core requirement of being a nonprofit entity serving aged populations. The bill will take effect on January 1, 2026, providing time for affected organizations to understand and prepare for the new eligibility standards.

https://www.flsenate.gov/Session/Bill/2025/298