This 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. The new language specifies that the applicant must be a corporation not for profit 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 bill also establishes that the amendments will first apply to the 2026 ad valorem tax roll and sets an effective date of January 1, 2026. The changes aim to clarify the criteria for eligibility, ensuring that nonprofit homes for the aged can continue to receive necessary tax exemptions while adhering to updated legal standards.

Statutes affected:
H 321 Filed: 196.1975