The proposed bill establishes new provisions for the adaptive reuse of land in Florida by creating sections 125.01056 and 166.04152 in the Florida Statutes. It requires counties and municipalities to permit multifamily and mixed-use residential developments in areas zoned for commercial, industrial, or mixed use, and allows hotels or motels to operate as transitional housing without additional zoning requirements. The bill aims to streamline the permitting process for adaptive reuse projects, reduce parking requirements under certain conditions, and provide financial incentives such as exemptions from ad valorem taxes and reductions in impact fees for developers of affordable housing units.

Additionally, the bill establishes the Adaptive Reuse Public-Private Partnership Council to oversee and evaluate adaptive reuse projects, ensuring compliance with state and local laws. The council will consist of members from various sectors and will monitor approved projects, reporting annually to the Governor and Legislature. The legislation also includes provisions for transitional housing ordinances, outlining eligibility requirements and procedures for local governments to facilitate affordable housing development through adaptive reuse initiatives. The act is set to take effect on July 1, 2025.