The 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. Specifically, it stipulates that the applicant must be a nonprofit corporation under chapter 617 or a Florida limited partnership, with the sole general partner being either a nonprofit corporation under chapter 617 or wholly owned by such a corporation that is not licensed under chapter 429. 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 amendments made by this act will first apply to the 2027 ad valorem tax roll, and the act is set to take effect on January 1, 2027. The changes include the insertion of new language clarifying the eligibility criteria and the deletion of outdated references to previous legal language regarding nonprofit status and tax exemption qualifications.

Statutes affected:
H 1131 Filed: 196.1975