summary
Introduced
01/07/2026
01/07/2026
In Committee
01/16/2026
01/16/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
An act relating to affordable housing property tax exemptions; amending s. 196.1978, F.S.; defining the term “LURA”; revising the definition of the term “newly constructed”; revising conditions under which multifamily projects are considered property used for a charitable purpose and are eligible to receive an ad valorem property tax exemption; revising the list of units in multifamily projects which property appraisers are required to exempt; providing that certain annual compliance reports and statements from the Florida Housing Finance Corporation are presumptive evidence that certain properties meet certain limitations; authorizing production of the annual compliance report by certain entities; requiring the corporation to review and approve annual compliance reports; requiring that certain property owners receive a specified statement from the corporation upon approval of the compliance report; specifying that certain portions of property are presumed eligible for a specified certification notice upon submission of a certain agreement to the corporation; authorizing certain owners of property to submit a request to the corporation for a certification notice at a specified time; authorizing such owners to specify in the request for certification notice the rent amount that will be charged instead of certain required information; authorizing such owners to submit a LURA instead of certain required information; requiring property appraisers to issue verification letters to property owners under certain conditions; specifying requirements for site plans; requiring property appraisers to issue verification letters or provide the reasons for ineligibility under certain circumstances; providing that projects that have received verification letters are exempt from a specified ordinance; providing that property in multifamily projects is eligible to receive an exemption under certain circumstances; revising requirements for taxing authorities electing not to exempt certain property; authorizing property in multifamily projects to receive a tax exemption under certain circumstances; authorizing the Department of Revenue to adopt emergency rules; providing that such rules are effective for a specified timeframe and may be renewed under certain conditions; providing for expiration of such authority; providing applicability; amending s. 420.6075, F.S.; revising the date by which the Shimberg Center for Housing Studies must submit a certain report to the Legislature; providing an effective date.
AI Summary
This bill modifies existing Florida law to expand property tax exemptions for affordable housing projects, defining a "LURA" (Land Use Restriction Agreement) as a recorded agreement requiring property to be used for housing individuals or families meeting specific income definitions. It revises the definition of "newly constructed" to mean improvements completed within 2 years, down from 5, and lowers the unit threshold for qualifying multifamily projects from 70 to 50 units (or 10 units in areas of critical state concern). The bill also clarifies that property appraisers must exempt a higher percentage of units (75%) for those housing individuals earning between 80-120% of the median income, and all units for those earning 80% or less, with new provisions allowing for exemptions for units subject to a LURA within these income brackets. It introduces a process where annual compliance reports from the Florida Housing Finance Corporation (or approved entities) serve as proof of meeting income and rent limits, and allows property owners to submit a LURA instead of detailed rent information when applying for a certification notice. Additionally, property appraisers are required to issue verification letters for projects that meet site plan requirements for the exemption, and projects receiving such letters are exempt from certain local ordinances. The bill also adjusts the deadline for the Shimberg Center for Housing Studies to submit its annual housing report to the Legislature, moving it to September 30th.
Sponsors (1)
Last Action
Introduced (on 01/22/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.flsenate.gov/Session/Bill/2026/1350 |
| BillText | https://www.flsenate.gov/Session/Bill/2026/1350/BillText/Filed/HTML |
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