Bill > S1594

Introduced Session

An act relating to housing; amending s. 196.1978, F.S.; providing and revising definitions; revising eligibility requirements for a specified affordable housing tax exemption; authorizing certain adaptive reuse projects to be eligible for a certain tax exemption; revising the period of time to determine eligibility for such exemption; providing that certain property owners continue to be eligible for such exemption if certain conditions are met; authorizing subsequent property owners to continue receiving such exemption; providing requirements for receiving a certification notice; authorizing specified actions by foreclosed property owners; requiring property appraisers to issue certain letters; providing that projects that have received such letters may continue receiving a specified tax exemption and may begin receiving such exemption on a specified date; revising requirements for taxing authorities; prohibiting such authorities from using specified emergency enactment procedures for specified purposes; requiring certain projects and developments to continue to be exempt from specified ordinances; requiring a taxing authority to conduct an assessment on the need for certain affordable housing and present the assessment at a specified meeting; requiring the taxing authority to provide a certain notice to the Florida Housing Finance Corporation; requiring the corporation to submit a certain report each year to the Governor and the Legislature before the legislative session; authorizing a cause of action for certain project owners to recover specified relief; providing for the award of attorney fees and costs; defining the term “reasonable attorney fees and costs”; revising penalties that must be included in a certain land use restriction; providing applicability; amending s. 196.1979, F.S.; defining the term “adaptive reuse project”; revising eligibility requirements for a specified tax exemption; authorizing certain developments to abate certain future ad valorem property taxes by paying a specified amount at the time a building permit is issued; requiring the Florida Housing Finance Corporation to adopt certain rules; prohibiting a county or municipality from imposing compliance monitoring requirements more stringent than standards the corporation adopts; amending s. 212.055, F.S.; revising the types of expenditures for which the proceeds of a specified surtax may be used; amending s. 213.053, F.S.; authorizing the Department of Revenue to share certain information with specified parties; amending s. 220.02, F.S.; revising the order in which credits against specified taxes may be taken; amending s. 220.13, F.S.; revising adjustments for adjusted federal income; amending s. 220.185, F.S.; revising the definition of the term “qualified project”; excluding from the definition any project that has received specified financing or tax credits; amending s. 220.197, F.S.; providing a short title; providing definitions; authorizing a tax credit for qualified expenses incurred for a specified purpose beginning on a certain date; providing applicability; prohibiting a taxpayer from receiving more than a specified amount in tax credits for a single project; providing eligibility requirements for such tax credit; authorizing forfeiture of such tax credit under certain circumstances; authorizing the carryforward of such tax credit; authorizing the sale or transfer of such tax credit under certain conditions; specifying requirements for such sale or transfer; authorizing the Department of Revenue to conduct audits; authorizing the Division of Historical Resources of the Department of State to assist in such audits; authorizing forfeiture of certain tax credits under certain circumstances; requiring repayment of certain funds into a specified account; requiring the taxpayer to file an amended tax return and pay any required tax in specified circumstances; authorizing the department to issue a notice of deficiency in certain circumstances; providing applicability; requiring the department to submit a certain annual report; providing reporting requirements; providing department duties in administering a specified tax credit program; authorizing the Department of Revenue, the Division of Historical Resources of the Department of State, and the Florida Housing Finance Corporation to adopt rules; amending s. 420.503, F.S.; revising the definition of the term “qualified contract”; amending s. 420.50871, F.S.; defining the term “urban infill”; revising the types of affordable housing projects funded by the Florida Housing Finance Corporation; prohibiting the corporation from requiring certain projects to use specified tax credits or financing; amending s. 420.50872, F.S.; prohibiting projects financed through the Live Local Program from being required to use specified tax credits or financing; amending s. 624.509, F.S.; revising the order of credits and deductions taken against a specified tax; providing applicability; providing an effective date.

Stan McClain (R)*, 

Indefinitely postponed and withdrawn from consideration (on 05/03/2025)

Official Document