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| 3 | 3 | | HB 675 2025 |
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| 7 | 7 | | CODING: Words stricken are deletions; words underlined are additions. |
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| 8 | 8 | | hb675-00 |
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| 9 | 9 | | Page 1 of 2 |
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| 10 | 10 | | 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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| 14 | 14 | | A bill to be entitled 1 |
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| 15 | 15 | | An act relating to grants for low-income senior 2 |
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| 16 | 16 | | citizen condominium unit owners; amending s. 420.507, 3 |
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| 17 | 17 | | F.S.; requiring the Florida Housing Finance 4 |
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| 18 | 18 | | Corporation to establish by rule requirements for a 5 |
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| 19 | 19 | | specified grant; providing the maximum amount for such 6 |
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| 20 | 20 | | grant; providing definitions; providing an effective 7 |
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| 21 | 21 | | date. 8 |
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| 22 | 22 | | 9 |
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| 23 | 23 | | Be It Enacted by the Legislature of the State of Florida: 10 |
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| 24 | 24 | | 11 |
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| 25 | 25 | | Section 1. Subsection (51) is added t o section 420.507, 12 |
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| 26 | 26 | | Florida Statutes, to read: 13 |
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| 27 | 27 | | 420.507 Powers of the corporation. —The corporation shall 14 |
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| 28 | 28 | | have all the powers necessary or convenient to carry out and 15 |
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| 29 | 29 | | effectuate the purposes and provisions of this part, including 16 |
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| 30 | 30 | | the following powers which are in addition to all other powers 17 |
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| 31 | 31 | | granted by other provisions of this part: 18 |
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| 32 | 32 | | (51)(a) To establish by rule requirements for low -income 19 |
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| 33 | 33 | | senior citizens who own a condominium unit that is his or her 20 |
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| 34 | 34 | | homestead to apply to the corporation for a one -time grant to 21 |
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| 35 | 35 | | assist with the payment of special assessments levied by the 22 |
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| 36 | 36 | | condominium association to fund the condominium's reserve 23 |
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| 37 | 37 | | accounts in accordance with s. 718.112(2)(f). The maximum grant 24 |
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| 38 | 38 | | allowed for each homesteaded condominium unit is $2,500. 25 |
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| 39 | 39 | | |
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| 40 | 40 | | HB 675 2025 |
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| 44 | 44 | | CODING: Words stricken are deletions; words underlined are additions. |
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| 45 | 45 | | hb675-00 |
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| 46 | 46 | | Page 2 of 2 |
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| 47 | 47 | | 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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| 50 | 50 | | |
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| 51 | 51 | | (b) As used in this subsection, the term: 26 |
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| 52 | 52 | | 1. "Low income" has the same meaning as in s. 420.602. 27 |
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| 53 | 53 | | 2. "Senior citizen" has the same meaning as in s. 28 |
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| 54 | 54 | | 501.2077(1). 29 |
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| 55 | 55 | | Section 2. This act shall take effect July 1, 2025. 30 |
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