The bill amends section 196.1975 of the Florida Statutes to revise the eligibility requirements for nonprofit homes for the aged seeking an ad valorem tax exemption. Specifically, it clarifies that applicants must be either a nonprofit corporation under chapter 617 or a Florida limited partnership, with the sole general partner being a nonprofit corporation under chapter 617 or an entity not licensed under chapter 429 and wholly owned by a nonprofit corporation under chapter 617. Additionally, the bill stipulates that the nonprofit corporation must have been exempt from federal income taxation as of January 1 of the year for which the tax exemption is requested.

The bill also makes technical changes to the language of the statute, including the replacement of "pursuant to" with "under" in relation to the nonprofit corporation's status. The effective date for this act is set for January 1, 2026.

Statutes affected:
S 298 Filed: 196.1975