HB 617 2025
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hb617-00
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
A bill to be entitled 1
An act relating to local government approval of 2
affordable housing property tax exemptions; amending 3
s. 196.1978, F.S.; expanding a property tax exemption 4
on certain multifamily projects; providing 5
requirements for such exemption; authorizing local 6
governments to approve certain properties for such 7
exemption; providing requirements for the local 8
governing body; requiring an annual report; providing 9
an effective date. 10
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Be It Enacted by the Legislature of the State of Florida: 12
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Section 1. Paragraphs (b) and (g) of subsection (4) of 14
section 196.1978, Florida Statutes, are amended, and a new 15
paragraph (g) is added to that subsection, to read: 16
196.1978 Affordable housing property exemption. — 17
(4) 18
(b) The multifamily project must: 19
1. Be composed of an improvement to land where an 20
improvement did not previously exist or the construction of a 21
new improvement where an old improvement was removed, which was 22
substantially completed within 2 years before the first 23
submission of an application for exemption under this 24
subsection. For purposes of this subsection, the term 25
HB 617 2025
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
"substantially completed" has the same definition as in s. 26
192.042(1). 27
2. Contain more tha n 70 units that are used to provide 28
affordable housing to natural persons or families meeting the 29
extremely-low-income, very-low-income, or low-income limits 30
specified in s. 420.0004. 31
3. Be subject to either: 32
a. A land use restriction agreement that is recorded in 33
the public records of the county in which the property is 34
located, requiring the property to provide affordable housing 35
for a minimum of 30 years, and that has been approved to receive 36
the exemption by the local government; or 37
b. An agreement with the Florida Housing Finance 38
Corporation recorded in the official records of the county in 39
which the property is located that requires that the property be 40
used for 99 years to provide affordable housing to natural 41
persons or families meeting the ext remely-low-income, very-low-42
income, low-income, or moderate-income limits specified in s. 43
420.0004. The agreement must include a provision for a penalty 44
for ceasing to provide affordable housing under the agreement 45
before the end of the agreement term that is equal to 100 46
percent of the total amount financed by the corporation 47
multiplied by each year remaining in the agreement. The 48
agreement may be terminated or modified without penalty if the 49
exemption under this subsection is repealed. 50
HB 617 2025
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
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The property is no longer eligible for this exemption if the 52
property no longer serves extremely -low-income, very-low-income, 53
or low-income persons pursuant to the recorded agreement or 54
land-use restriction. 55
(g) A local governing body may approve a project used to 56
provide affordable housing for an ad valorem tax exemption under 57
sub-subparagraph (b)3.a. 58
1. A local governing body approving such exemption must 59
ensure: 60
a. The property serves persons or families who are 61
extremely-low-income, very-low-income, low-income, or moderate-62
income, as defined in s. 420.0004. 63
b. The property is subject to a recorded land -use 64
restriction agreement that remains in effect for at least 30 65
years. 66
c. Annual compliance reviews are conducted by the property 67
appraiser's office to confirm eligibility. 68
2. A local government that has approved an exemption under 69
this subsection must submit an annual report to the Department 70
of Revenue with the following information: 71
a. The total number exemptions approved by the local 72
government. 73
b. The total number of housing units provided by projects 74
approved for the exemption and the income categories served. 75
HB 617 2025
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
c. The number of exemptions found to be in noncompliance 76
and the number of exemptions that have been revoked. 77
(h)(g) This subsection first a pplies to the 2026 tax roll. 78
Section 2. This act shall take effect July 1, 2025. 79