The proposed bill establishes a new section, 212.1836, in the Florida Statutes, which introduces the Homebuyer Workforce Tax Credit. This credit allows eligible taxpayers, specifically employers who have operated in Florida for at least three consecutive years, to receive a tax credit for contributions made to assist eligible employees with expenses related to purchasing a home. Eligible employees are defined as individuals who have established permanent residency in Florida and have not previously owned a home in the state. The bill specifies that employers can receive a tax credit for 100% of their contributions, capped at $5,000 per employee, and also allows credits for contributions to government programs that assist with down payments.

The bill outlines the application process for taxpayers seeking these credits, which will be approved by the Department of Revenue on a first-come, first-served basis, with a total of $5 million in credits authorized for each of the fiscal years 2026-2027, 2027-2028, and 2028-2029. Unused credits can be carried forward for up to three years, but they cannot be sold or transferred to another entity. The Department of Revenue is also granted the authority to adopt necessary rules for the administration of this section. The bill is set to take effect on July 1, 2026, and includes a provision for repeal on January 1, 2030, unless reenacted by the Legislature.