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Bill > H0311

FL H0311

FL H0311
Tax Credits for Contributions to Assist Homebuyers

summary

Introduced
11/04/2025
In Committee
02/11/2026
Crossed Over
Passed
Dead

Introduced Session

2026 Regular Session

Bill Summary

An act relating to tax credits for contributions to assist homebuyers; providing a directive to the Division of Law Revision; creating part VII of ch. 420, F.S.; creating s. 420.951, F.S.; defining terms; creating s. 420.952, F.S., authorizing certain taxpayers to receive a tax credit for specified contributions; providing requirements for the use of such credit; requiring a taxpayer to submit a certain application beginning on a specified date; requiring the application include specified information and documentation; authorizing the tax credit to be used against certain taxes; requiring the Department of Revenue to approve applications in a specified manner; providing the maximum amount of credits authorized for specified fiscal years; authorizing unused credits to carryforward for a specified period of time in certain circumstances; prohibiting the sale or transfer of certain tax credits; authorizing the department to adopt rules; providing for future repeal; providing construction; creating s. 220.1856, F.S.; providing a credit against the corporate income tax for certain contributions beginning on a specified date; authorizing the credit on a consolidated return basis under certain circumstances; providing applicability; hb311-01-c1 amending s. 220.02, F.S.; revising the order in which certain credits are intended to be applied to incorporate changes made by the act; amending s. 220.13, F.S.; requiring the addition of the amount taken for a specified credit to taxable income; creating s. 624.51065, F.S.; providing a credit against insurance premium taxes for certain contributions beginning on a specified date; providing construction; providing applicability; authorizing the department to adopt emergency rules; providing for future repeal; providing effective dates.

AI Summary

This bill establishes a new "Homebuyer Workforce Tax Credit" program in Florida, allowing eligible taxpayers, including corporations and insurers, to receive a tax credit for making contributions to assist eligible employees with down payments or closing costs for their primary residence. An eligible employee is defined as a moderate-income, full-time resident who hasn't owned a homesteaded property in the last three years. The credit is for 100% of the employer's contribution, up to $5,000 per employee, and the total credit claimed by a taxpayer in a year cannot exceed the amount approved by the Department of Revenue. Taxpayers must apply for this credit starting October 1, 2026, and the department will approve applications on a first-come, first-served basis, with a maximum annual tax credit amount of $5 million for fiscal years 2026-2029. Unused credits can be carried forward for up to five years, but they cannot be sold or transferred. The bill also specifies how this new credit will be applied in relation to other tax credits and amends existing laws to incorporate this new credit, including adding it to the list of credits applied to corporate income tax and requiring that the amount of this credit be added back to taxable income. The program is set to be repealed on January 1, 2030, with provisions for carryover credits to remain valid.

Committee Categories

Budget and Finance, Business and Industry

Sponsors (1)

Other Sponsors (1)

Ways & Means Committee (House)

Last Action

House Commerce Committee Hearing (15:00:00 2/24/2026 ) (on 02/24/2026)
(1 Companion Bills)

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