Bill > H0411

This bill amends Florida's property tax exemption law for affordable housing by expanding the eligibility for tax-exempt land to include situations where land is leased from a Housing Finance Authority under specific conditions. The exemption will apply to land owned or leased by a nonprofit organization that is tax-exempt under federal 501(c)(3) rules and is leased for at least 99 years to provide housing for extremely-low, very-low, low-income, or moderate-income individuals and families. To qualify, more than 50% of the land's improvements must be used for qualifying housing. The bill allows the Department of Revenue to adopt emergency rules to implement these changes and specifies that the new provisions will first apply to the 2026 tax roll, with the exemption remaining in effect until December 31, 2059. The legislation aims to create more flexibility for nonprofit organizations in developing affordable housing by allowing tax exemptions on leased land from Housing Finance Authorities.

Budget and Finance, Business and Industry, Housing and Urban Affairs

Ways & Means Committee (H)

https://www.flsenate.gov/Session/Bill/2025/411