Bill > S0756

This bill proposes several changes to Florida law aimed at promoting affordable housing. It increases the required affordability period for rental units from 30 to 50 years when seeking zoning variances for multifamily and mixed-use residential developments in both county and municipal contexts. The bill mandates that incentives provided to developers for affordable housing must be specifically used for constructing such housing. It also reduces the maximum median income threshold for certain tax incentives from 120% to 100% of the area's median annual adjusted gross income. Additionally, the bill provides tax relief for first-time homebuyers by exempting documentary stamp taxes on deeds, transfers, or conveyances of residential property, defining a "first-time homebuyer" as someone who has not owned a principal residence in the past three years and meets moderate-income criteria. These changes are designed to make housing more accessible and affordable for lower and middle-income residents by providing financial incentives, reducing barriers to development, and offering tax benefits to new homeowners. The bill is set to take effect on July 1, 2026, giving local governments and developers time to adapt to the new regulations.

https://www.flsenate.gov/Session/Bill/2026/756