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

The amendments introduced by this bill will first apply to the 2026 ad valorem tax roll, and the act is set to take effect on January 1, 2026. The changes aim to streamline the eligibility criteria for nonprofit homes for the aged, ensuring that they meet specific organizational requirements to qualify for tax exemptions.

Statutes affected:
H 321 Filed: 196.1975