The bill amends various sections of the Florida Statutes related to the Florida Housing Finance Corporation, specifically updating definitions and cross-references. In section 420.503, new definitions are added, including "demonstrated capacity," which outlines the necessary skills and experience for affordable housing providers, and "qualifying principal," which specifies ownership requirements for individuals involved in housing projects. Additionally, the definition of "community housing development organization" is revised to remove the phrase "the capacity" and replace it with a more detailed description of the organization's qualifications. The bill also renumbers existing subsections and updates the definition of "elderly" to align with the new numbering.

Furthermore, in section 420.628, the bill updates the cross-reference for young adults leaving the child welfare system to ensure they are recognized as eligible persons for affordable housing programs. The changes aim to clarify and enhance the legal framework surrounding affordable housing in Florida, ensuring that definitions are precise and relevant to current practices. The act is set to take effect upon becoming law.

Statutes affected:
H 489 Filed: 420.628