Bill > H0489

This bill updates terminology and definitions related to the Florida Housing Finance Corporation, primarily focusing on affordable housing provisions. The bill introduces new definitions such as "demonstrated capacity," which means a housing provider has the skill, experience, and creditworthiness to successfully construct or rehabilitate affordable housing, specifically requiring completion of at least three affordable housing projects in the United States (with one in Florida) within the past five years. It also defines a new term "qualifying principal" as a person or persons owning at least 25 percent of a legal business entity. The bill renumbers and amends several existing definitions in the Florida Statutes, including definitions for "elderly," "eligible housing provider," and "sponsor," and makes technical changes to cross-references in sections related to affordable housing. Additionally, the bill updates a reference in a section about affordable housing for young adults leaving foster care, adjusting a statutory citation. The changes aim to provide more clarity and specificity in how affordable housing organizations and projects are defined and evaluated.

Housing and Urban Affairs

https://www.flsenate.gov/Session/Bill/2026/489