This bill amends various sections of the Florida Statutes related to the Florida Housing Finance Corporation, specifically focusing on definitions and terminology. In section 420.503, several subsections are renumbered, and new definitions are added, including "demonstrated capacity," which outlines the necessary skills and experience for providers of affordable housing projects. 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 requisite skills and experience needed. Additionally, the term "qualifying principal" is introduced to define individuals who own a significant portion of a legal entity involved in affordable housing.

Furthermore, the bill amends section 420.628 to update the cross-reference for "eligible persons" under affordable housing programs for young adults leaving the child welfare system. The previous reference to section 420.503(18) is replaced with 420.503(19), ensuring consistency with the updated definitions. The bill aims to enhance the clarity and effectiveness of the legal framework governing affordable housing in Florida, with an effective date upon becoming law.

Statutes affected:
S 1348 Filed: 420.628