This bill amends various sections of Florida Statutes to enhance affordable housing initiatives, particularly through tax exemptions and eligibility criteria for affordable housing projects. It introduces new definitions, such as "financial beneficiary" and "adaptive reuse project," while revising existing definitions to clarify tax exemption eligibility. The legislation allows certain adaptive reuse projects to qualify for tax exemptions and modifies the criteria for property owners to maintain their eligibility. Additionally, it mandates property appraisers to issue letters for qualifying projects and requires taxing authorities to assess local affordable housing needs, prohibiting emergency enactment procedures for certain purposes.

The bill also establishes a new tax credit for the rehabilitation of certified historic structures, allowing taxpayers to receive a credit equal to 20% of qualified expenses for projects that meet specific criteria, including a requirement for the structure to be used for affordable or workforce housing for at least five years. It outlines the application process for property owners seeking exemptions, including the need for a certification notice from the relevant housing corporation, and introduces provisions for local governments to utilize discretionary sales surtax proceeds for infrastructure and housing projects. Overall, the legislation aims to streamline tax exemption processes, promote the development of affordable housing, and ensure compliance with housing standards.

Statutes affected:
S 1594 Filed: 212.055, 220.02, 220.13, 220.185, 420.503, 624.509