Florida 2025 Regular Session

Florida House Bill H0923 Compare Versions

Only one version of the bill is available at this time.

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3	3	HB 923 2025
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7	7	CODING: Words stricken are deletions; words underlined are additions.
8	8	hb923-00
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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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12	12
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14	14	A bill to be entitled 1
15	15	An act relating to housing; amending s. 196.1978, 2
16	16	F.S.; providing and revising definitions; revising 3
17	17	eligibility requirements for a specified affordable 4
18	18	housing tax exemption; authorizing certain adaptive 5
19	19	reuse projects to be eligible for a certain tax 6
20	20	exemption; revising the period of time to determine 7
21	21	eligibility for such exemption; providing that certain 8
22	22	property owners continue to be eligible for such 9
23	23	exemption if certain conditions are met; authorizing 10
24	24	subsequent property owners to continue receiving s uch 11
25	25	exemption; providing requirements for receiving a 12
26	26	certification notice; authorizing specified actions by 13
27	27	foreclosed property owners; requiring property 14
28	28	appraisers to issue certain letters; providing that 15
29	29	projects that have received such letters may con tinue 16
30	30	receiving a specified tax exemption and may begin 17
31	31	receiving such exemption on a specified date; revising 18
32	32	requirements for taxing authorities; prohibiting such 19
33	33	authorities from using specified emergency enactment 20
34	34	procedures for specified purposes; req uiring certain 21
35	35	projects and developments to continue to be exempt 22
36	36	from specified ordinances and resolutions; authorizing 23
37	37	certain projects a cause of action to recover 24
38	38	specified relief; revising penalties that must be 25
39	39
40	40	HB 923 2025
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44	44	CODING: Words stricken are deletions; words underlined are additions.
45	45	hb923-00
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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
48	48
49	49
50	50
51	51	included in a certain land use restrict ion; providing 26
52	52	applicability; amending s. 196.1979, F.S.; providing a 27
53	53	definition for the term "adaptive reuse project"; 28
54	54	revising eligibility requirements for a specified tax 29
55	55	exemption; authorizing certain developments to abate 30
56	56	certain future ad valorem pro perty taxes by paying a 31
57	57	specified amount at the time a building permit is 32
58	58	issued; requiring the Florida Housing Finance 33
59	59	Corporation to adopt certain rules; amending s. 34
60	60	212.055, F.S.; revising the types of expenditures for 35
61	61	which the proceeds of a specified surtax may be used; 36
62	62	amending s. 213.053, F.S.; authorizing the Department 37
63	63	of Revenue to share certain information with specified 38
64	64	parties; amending s. 220.02, F.S.; revising the order 39
65	65	in which credits against specified taxes may be taken; 40
66	66	amending s. 220.13, F.S.; revising adjustments for 41
67	67	adjusted federal income; amending s. 220.197, F.S.; 42
68	68	providing a short title; providing definitions; 43
69	69	authorizing a tax credit for qualified expenses 44
70	70	incurred for a specified purpose beginning on a 45
71	71	certain date; providing app licability; prohibiting a 46
72	72	taxpayer from receiving more than a specified amount 47
73	73	in tax credits for a single project; providing 48
74	74	eligibility requirements for such tax credit; 49
75	75	authorizing forfeiture of such tax credit under 50
76	76
77	77	HB 923 2025
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84	84	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
85	85
86	86
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88	88	certain circumstances; authorizing t he carryforward of 51
89	89	such tax credit; authorizing the sale or transfer of 52
90	90	such tax credit under certain conditions; authorizing 53
91	91	the department to conduct audits; authorizing the 54
92	92	Division of Historical Resources of the Department of 55
93	93	State to assist in such au dits; authorizing forfeiture 56
94	94	of certain tax credits under certain circumstances; 57
95	95	requiring repayment of certain funds into a specified 58
96	96	account; requiring the filing of an amended revenue in 59
97	97	specified circumstances; authorizing the department to 60
98	98	issue a notice of deficiency in certain circumstances; 61
99	99	providing applicability; requiring the department to 62
100	100	submit a certain annual report; providing reporting 63
101	101	requirements; providing department duties in 64
102	102	administering a specified tax credit program; 65
103	103	authorizing the Department of Revenue, the Division of 66
104	104	Historical Resources, and the Florida Housing Finance 67
105	105	Corporation to adopt rules; amending s. 420.503, F.S.; 68
106	106	revising the definition of the term "qualified 69
107	107	contract"; amending s. 420.50871, F.S.; revising the 70
108	108	types of affordable housing projects funded by the 71
109	109	Florida Housing Finance Corporation; prohibiting the 72
110	110	corporation from requiring certain projects to use 73
111	111	specified tax credits or financing; amending s. 74
112	112	420.50872, F.S.; prohibiting projects financed through 75
113	113
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121	121	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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125	125	the Live Local Program from being required to use 76
126	126	specified tax credits or financing; amending s. 77
127	127	624.509, F.S.; revising the order of credits and 78
128	128	deductions taken against a specified tax; providing 79
129	129	applicability; providing an effective date. 80
130	130	81
131	131	Be It Enacted by the Legislature of the State of Florida: 82
132	132	83
133	133	Section 1. Subsections (1) through (4) of section 84
134	134	196.1978, Florida Statutes, are renumbered as subsections (2) 85
135	135	through (5), respectively, paragraphs (n) and (o) of present 86
136	136	subsection (3) are redesignated as paragraphs (o) and (p), 87
137	137	respectively, present subsection (1), paragraphs (b) and (d) of 88
138	138	present subsection (2), paragraphs (a), (b), (d), (e), and (f) 89
139	139	and present paragraph (o) of present subsection (3), and 90
140	140	paragraphs (b), (d), and (f) of present subsect ion (4) are 91
141	141	amended, a new paragraph (n) is added to present subsection (3), 92
142	142	and a new subsection (1) and subsection (6) are added to that 93
143	143	section, to read: 94
144	144	196.1978 Affordable housing property exemption. — 95
145	145	(1) As used in this section, the term: 96
146	146	(a) "Financial beneficiary" means any principal of the 97
147	147	developer or applicant entity that receives or will receive any 98
148	148	direct or indirect financial benefit from a development. A 99
149	149	financial beneficiary does not include third -party lenders, 100
150	150
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158	158	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
159	159
160	160
161	161
162	162	third-party management agents or companies, third -party service 101
163	163	providers, housing credit syndicators, or credit enhancers 102
164	164	regulated by a state or federal agency. 103
165	165	(b) "Multifamily project" includes all parcels or 104
166	166	properties which have one or more of the same financial 105
167	167	beneficiaries, submitted together for a single exemption under 106
168	168	this section, for which any of the following conditions are met: 107
169	169	1. Any part of any of the property site is contiguous with 108
170	170	any part of any of the other property sites; 109
171	171	2. Any of the property sites are divided only by a street 110
172	172	or easement; or 111
173	173	3. It is readily apparent from the applications, 112
174	174	proximity, chain of title, or other information made available 113
175	175	to the Florida Housing Finance Corporation or property appraiser 114
176	176	that the properties are part of a common or related scheme of 115
177	177	development. 116
178	178	(2)(a)(1)(a) Property used to provide affordable housing 117
179	179	to eligible persons as defined by s. 159.603 and natural persons 118
180	180	or families meeting the extremely -low-income, very-low-income, 119
181	181	low-income, or moderate-income limits specified in s. 420.0004, 120
182	182	which is owned entirely by a governmental entity or nonprofit 121
183	183	entity that is a corporation not for profit, qualified as 122
184	184	charitable under s. 501(c)(3) of the Internal Revenue Code and 123
185	185	in compliance with Rev. Proc. 96 -32, 1996-1 C.B. 717, is 124
186	186	considered property owned by an exempt entity and used for a 125
187	187
188	188	HB 923 2025
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195	195	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
196	196
197	197
198	198
199	199	charitable purpose, and those portions of the affordable housing 126
200	200	property that provide housing to natural persons or families 127
201	201	classified as extremely low income, very low i ncome, low income, 128
202	202	or moderate income under s. 420.0004 are exempt from ad valorem 129
203	203	taxation to the extent authorized under s. 196.196. All property 130
204	204	identified in this subsection must comply with the criteria 131
205	205	provided under s. 196.195 for determining exempt status and 132
206	206	applied by property appraisers on an annual basis. The 133
207	207	Legislature intends that any property owned by a limited 134
208	208	liability company which is disregarded as an entity for federal 135
209	209	income tax purposes pursuant to Treasury Regulation 301.7701 -136
210	210	3(b)(1)(ii) be treated as owned by its sole member. If the sole 137
211	211	member of the limited liability company that owns the property 138
212	212	is also a limited liability company that is disregarded as an 139
213	213	entity for federal income tax purposes pursuant to Treasury 140
214	214	Regulation 301.7701-3(b)(1)(ii), the Legislature intends that 141
215	215	the property be treated as owned by the sole member of the 142
216	216	limited liability company that owns the limited liability 143
217	217	company that owns the property. Units that are vacant and units 144
218	218	that are occupied by natura l persons or families whose income no 145
219	219	longer meets the income limits of this subsection, but whose 146
220	220	income met those income limits at the time they became tenants, 147
221	221	shall be treated as portions of the affordable housing property 148
222	222	exempt under this subsection if a recorded land use restriction 149
223	223	agreement in favor of the Florida Housing Finance Corporation , a 150
224	224
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232	232	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
233	233
234	234
235	235
236	236	housing finance authority as defined in s. 159.603(3), or any 151
237	237	other governmental or quasi -governmental jurisdiction requires 152
238	238	that all residential units with in the property be used in a 153
239	239	manner that qualifies for the exemption under this subsection 154
240	240	and if the units are being offered for rent. 155
241	241	(b) Property Land that is owned entirely by a governmental 156
242	242	entity or a nonprofit entity that is a corporation not for 157
243	243	profit, qualified as charitable under s. 501(c)(3) of the 158
244	244	Internal Revenue Code and in compliance with Rev. Proc. 96 -32, 159
245	245	1996-1 C.B. 717, and is leased for a minimum of 90 99 years for 160
246	246	the purpose of, and is predominantly used for, providing housing 161
247	247	to natural persons or families meeting the extremely -low-income, 162
248	248	very-low-income, low-income, or moderate-income limits specified 163
249	249	in s. 420.0004 is exempt from ad valorem taxation. For purposes 164
250	250	of this paragraph, property land is predominantly used for 165
251	251	qualifying purposes if the square footage of the improvements on 166
252	252	the land used to provide qualifying housing is greater than 50 167
253	253	percent of the square footage of all improvements on the land. 168
254	254	All improvements used to provide qualifying housing on the 169
255	255	exempt property are also exempt from such taxation. This 170
256	256	paragraph first applies to the 2024 tax roll and is repealed 171
257	257	December 31, 2059. 172
258	258	(3)(2) 173
259	259	(b) The multifamily project must: 174
260	260	1. Contain at least one unit that is more than 70 units 175
261	261
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269	269	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
270	270
271	271
272	272
273	273	that are used to, or, for an adaptive reuse project as defined 176
274	274	in s. 196.1979(1), at least 20 percent of the project's 177
275	275	residential units must be used to, provide affordable housing to 178
276	276	natural persons or families meeting the extremely -low-income, 179
277	277	very-low-income, or low-income limits specified in s. 420.0004; 180
278	278	and 181
279	279	2. Be subject to an agreement with the Florida Housing 182
280	280	Finance Corporation, or a housing finance authority as defined 183
281	281	in s. 159.603(3), recorded in the official records of the county 184
282	282	in which the property is located to provide affordable housing 185
283	283	to natural persons or families meeting the extremely -low-income, 186
284	284	very-low-income, or low-income limits specified in s. 420.0004. 187
285	285	188
286	286	This exemption terminates if the property no longer serves 189
287	287	extremely-low-income, very-low-income, or low-income persons 190
288	288	pursuant to the recorded agreement. 191
289	289	(d) The property appraiser shall apply the exemption to 192
290	290	those portions of the affordable housing property that are 193
291	291	dedicated to providing provide housing to natural persons or 194
292	292	families meeting the extremely -low-income, very-low-income, or 195
293	293	low-income limits specified in s. 420.0004 before certifying the 196
294	294	tax roll to the tax collector. 197
295	295	(4)(a)(3)(a) As used in this subsection, the term: 198
296	296	1. "Corporation" means the Florida Housing Finance 199
297	297	Corporation. 200
298	298
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306	306	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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308	308
309	309
310	310	2. "Improvement to real property" includes new 201
311	311	construction, substantial rehabilitation of an existing 202
312	312	multifamily project, or conversion from another use to 203
313	313	multifamily. 204
314	314	3.2. "Newly constructed" means an improvement , or the 205
315	315	substantial rehabilitation of an existing improvement, to real 206
316	316	property which was substantially completed within 5 years before 207
317	317	the date of the property owner's an applicant's first submission 208
318	318	of a request for a certification notice pursuant to this 209
319	319	subsection. 210
320	320	4. "Substantial rehabilitation" means the meaningful 211
321	321	repair or restoration of a property when the total value of such 212
322	322	meaningful repair or restoration is equal to the greater of 213
323	323	$15,000 per unit or $750 per unit, per year of building age, 214
324	324	which is the difference between the year in which the property 215
325	325	received the certificate of occupancy and the year in which the 216
326	326	property first received the certification notice. Meaningful 217
327	327	repairs or restorations may be reasonably allocated among in -218
328	328	unit, common area, superstructure, substructure, mechanical, 219
329	329	electrical, plumbing, and other property repairs or restorations 220
330	330	that prolong the useful life of the building. Meaningful repairs 221
331	331	or restorations include onsite improvements, offsite 222
332	332	improvements, rehabilitation costs for physical improvements to 223
333	333	the property, and construction contingency but do not include 224
334	334	general contractor fees or overhead, general requirements, 225
335	335
336	336	HB 923 2025
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343	343	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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345	345
346	346
347	347	architect and engineering fees, permit fe es, financing or soft 226
348	348	costs, and developer fees. 227
349	349	5.3. "Substantially completed" means the date on which a 228
350	350	project receives its certificate of occupancy. If the project 229
351	351	has multiple buildings or phases, the property owner must submit 230
352	352	its first submission of a request for a certification notice 231
353	353	within 5 years after the date on which the last certificate of 232
354	354	occupancy was issued for the project has the same meaning as in 233
355	355	s. 192.042(1). 234
356	356	(b) Notwithstanding ss. 196.195 and 196.196, portions of 235
357	357	property in a multifamily project are considered property used 236
358	358	for a charitable purpose and are eligible to receive an ad 237
359	359	valorem property tax exemption if such portions meet all of the 238
360	360	following conditions: 239
361	361	1. Provide affordable housing to natural persons or 240
362	362	families meeting the income limitations provided in paragraph 241
363	363	(d). 242
364	364	1.a.2.a. Are within a newly constructed multifamily 243
365	365	project that contains at least one unit that is more than 70 244
366	366	units dedicated to, or, for an adaptive reuse project as defined 245
367	367	in s. 196.1979(1), at least 20 percent of the project's 246
368	368	residential units are dedicated to, housing natural persons or 247
369	369	families meeting the income limitations provided in paragraph 248
370	370	(d); or 249
371	371	b. Are within a newly constructed multifamily project , or 250
372	372
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380	380	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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382	382
383	383
384	384	an adaptive reuse project as defined in s. 196.1979(1), in an 251
385	385	area of critical state concern, as designated by s. 380.0552 or 252
386	386	chapter 28-36, Florida Administrative Code, which contains more 253
387	387	than 10 units dedicated to , or, for an adaptive reuse project, 254
388	388	at least 20 percent of the p roject's residential units are 255
389	389	dedicated to, housing natural persons or families meeting the 256
390	390	income limitations provided in paragraph (d). 257
391	391	2.3. Are rented or, if vacant, posted for rent for an 258
392	392	amount that does not exceed the amount as specified by the mo st 259
393	393	recent multifamily rental programs income and rent limit chart 260
394	394	posted by the corporation and derived from the Multifamily Tax 261
395	395	Subsidy Projects Income Limits published by the United States 262
396	396	Department of Housing and Urban Development or 90 percent of the 263
397	397	fair market value rent as determined by a rental market study 264
398	398	meeting the requirements of paragraph (l), whichever is less. 265
399	399	(d)1. The property appraiser shall exempt: 266
400	400	a. Seventy-five percent of the assessed value of the units 267
401	401	in multifamily projects th at meet the requirements of this 268
402	402	subsection and are used to house natural persons or families 269
403	403	whose annual household income at the time the lease is executed 270
404	404	is greater than 80 percent but not more than 120 percent of the 271
405	405	median annual adjusted gross incom e for households within the 272
406	406	metropolitan statistical area or, if not within a metropolitan 273
407	407	statistical area, within the county in which the person or 274
408	408	family resides; and 275
409	409
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417	417	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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421	421	b. From ad valorem property taxes the units in multifamily 276
422	422	projects that meet the re quirements of this subsection and are 277
423	423	used to house natural persons or families whose annual household 278
424	424	income at the time the lease is executed does not exceed 80 279
425	425	percent of the median annual adjusted gross income for 280
426	426	households within the metropolitan sta tistical area or, if not 281
427	427	within a metropolitan statistical area, within the county in 282
428	428	which the person or family resides ; and 283
429	429	c. At least 75 percent of the assessed value of all 284
430	430	affordable units within a qualified development authorized 285
431	431	pursuant to s. 125.01055 or s. 166.04151 . 286
432	432	287
433	433	However, if the income of tenants residing in a unit that 288
434	434	received the exemption in the previous year increases above the 289
435	435	income thresholds prescribed in sub -subparagraphs a. and b., the 290
436	436	unit remains eligible for the exemption if such tenants 291
437	437	voluntarily vacate the unit and the tenants to whom the property 292
438	438	owner subsequently rents the unit to satisfy the income 293
439	439	thresholds. 294
440	440	2. When determining the value of a unit for purposes of 295
441	441	applying an exemption pursuant to this paragraph, th e property 296
442	442	appraiser must include in such valuation the proportionate share 297
443	443	of the residential common areas, including the land, fairly 298
444	444	attributable to such unit. The property appraiser shall 299
445	445	calculate the value of the exemption based on the number of 300
446	446
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454	454	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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457	457
458	458	units satisfying the income and rent requirements of this 301
459	459	subsection, which shall include the proportionate share of the 302
460	460	residential common areas attributable to each unit. 303
461	461	(e) To be eligible to receive an exemption under this 304
462	462	subsection, a property owner mu st submit an application on a 305
463	463	form prescribed by the department by March 1 for the exemption, 306
464	464	accompanied by a certification notice from the corporation to 307
465	465	the property appraiser. The property appraiser shall review the 308
466	466	application and determine whether th e original applicant or 309
467	467	subsequent property owner meets all of the requirements of this 310
468	468	subsection and is entitled to an exemption. A property appraiser 311
469	469	may request and review additional information necessary to make 312
470	470	such determination. A property appraise r may grant an exemption 313
471	471	only for a property for which the corporation has issued a 314
472	472	certification notice and which the property appraiser determines 315
473	473	is entitled to an exemption. 316
474	474	(f) To receive a certification notice, a property owner 317
475	475	must submit a reques t to the corporation on a form provided by 318
476	476	the corporation which includes all of the following: 319
477	477	1. The most recently completed rental market study meeting 320
478	478	the requirements of paragraph (l). 321
479	479	2. A list of the units for which the property owner seeks 322
480	480	an exemption. The property owner of a multifamily project that 323
481	481	receives an exemption in any taxable year may: 324
482	482	a. Revise the list for an exemption sought in any 325
483	483
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491	491	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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493	493
494	494
495	495	subsequent taxable year by adding units to the list or removing 326
496	496	units from the list or both; or 327
497	497	b. Increase or decrease the number of units for which an 328
498	498	exemption is sought in any subsequent taxable year, 329
499	499	330
500	500	so long as the multifamily project continues to meet any minimum 331
501	501	number of percentage of units dedicated to affordable housing, 332
502	502	which is required by law for the exemption. 333
503	503	3. The rent amount received by the property owner for each 334
504	504	occupied unit and the published rent amount for each vacant unit 335
505	505	for which the property owner seeks an exemption. If a unit is 336
506	506	vacant and qualifies for an exemption unde r paragraph (c), the 337
507	507	property owner must provide evidence of the published rent 338
508	508	amount for each vacant unit. 339
509	509	4. A sworn statement, under penalty of perjury, from the 340
510	510	applicant restricting the property for a period of not less than 341
511	511	3 years to housing pers ons or families who meet the income 342
512	512	limitations under this subsection. If the property is 343
513	513	foreclosed, the foreclosing party may elect to void the sworn 344
514	514	statement and remove the project from qualifying for the 345
515	515	exemption or, if the project remains in complia nce with this 346
516	516	subsection, continue to apply for and receive the exemption. 347
517	517	(n) Upon the request of a property owner, the property 348
518	518	appraiser must issue a letter to verify that a multifamily 349
519	519	project, if constructed and leased as described in the site 350
520	520
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528	528	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
529	529
530	530
531	531
532	532	plan, qualifies for the exemption under this section. Within 30 351
533	533	days after receipt of the request described in this paragraph, 352
534	534	the property appraiser must issue a verification letter or 353
535	535	explain why the project is ineligible for the exemption. A 354
536	536	project that has received a verification letter before the 355
537	537	adoption of the ordinance described in paragraph (p) is exempt 356
538	538	from such ordinance. The verification letter is prima facie 357
539	539	evidence that the project is eligible for the exemption if the 358
540	540	project is constructed and leased as described in the site plan 359
541	541	used to receive the verification letter. This letter shall 360
542	542	qualify the project, if constructed and leased as described in 361
543	543	the site plan, to obtain the exemption beginning with the 362
544	544	January 1 assessment immediately after the date on which the 363
545	545	property obtains a certificate of occupancy and is placed in 364
546	546	service allowing the property to be used as an affordable 365
547	547	housing property. 366
548	548	(p)1.(o)1. Beginning with the 2025 tax roll, a taxing 367
549	549	authority may elect, upon adoption of an ordinance or resolution 368
550	550	approved by a two-thirds vote of the governing body, not to 369
551	551	exempt property under sub -subparagraph (d)1.a. located in a 370
552	552	county specified pursuant to subparagraph 2., subject to the 371
553	553	conditions of this paragraph. 372
554	554	2. A taxing authori ty must make a finding in the ordinance 373
555	555	or resolution that annual housing reports the most recently 374
556	556	published by the Shimberg Center for Housing Studies Annual 375
557	557
558	558	HB 923 2025
559	559
560	560
561	561
562	562	CODING: Words stricken are deletions; words underlined are additions.
563	563	hb923-00
564	564	Page 16 of 51
565	565	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
566	566
567	567
568	568
569	569	Report, prepared pursuant to s. 420.6075 identify, identifies 376
570	570	that a county that is part of the jurisdiction of the taxing 377
571	571	authority is within a metropolitan statistical area or region 378
572	572	where, for each of the previous 3 years, the number of 379
573	573	affordable and available units in the metropolitan statistical 380
574	574	area or region is greater than the number of rent er households 381
575	575	in the metropolitan statistical area or region for the category 382
576	576	entitled "0-120 percent AMI." 383
577	577	3. An election made pursuant to this paragraph may apply 384
578	578	only to the ad valorem property tax levies imposed within a 385
579	579	county specified pursuant to subparagraph 2. by the taxing 386
580	580	authority making the election. 387
581	581	4. The ordinance or resolution must take effect on the 388
582	582	January 1 immediately succeeding adoption and shall expire on 389
583	583	the following second January 1 after the January 1 in which the 390
584	584	ordinance or resolution takes effect . The ordinance or 391
585	585	resolution may be renewed before prior to its expiration 392
586	586	pursuant to this paragraph if the taxing authority makes the 393
587	587	same finding required in subparagraph 2 . 394
588	588	5. The taxing authority proposing to make an electio n 395
589	589	under this paragraph must advertise the ordinance or resolution 396
590	590	or renewal thereof pursuant to the requirements of s. 50.011(1) 397
591	591	before prior to adoption. The taxing authority may not utilize 398
592	592	the emergency enactment procedures under s. 125.66. 399
593	593	6. The taxing authority must provide to the property 400
594	594
595	595	HB 923 2025
596	596
597	597
598	598
599	599	CODING: Words stricken are deletions; words underlined are additions.
600	600	hb923-00
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602	602	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
603	603
604	604
605	605
606	606	appraiser the adopted ordinance or resolution or renewal thereof 401
607	607	by the effective date of the ordinance or resolution or renewal 402
608	608	thereof. 403
609	609	7. Notwithstanding an ordinance or resolution or renewal 404
610	610	thereof adopted pursuant to this paragraph, a property owner of 405
611	611	a multifamily project that who was granted an exemption , at 406
612	612	least in part, pursuant to sub-subparagraph (d)1.a. before the 407
613	613	adoption or renewal of an such ordinance or resolution ma y 408
614	614	continue to receive an such exemption for each subsequent 409
615	615	consecutive year that the property owner , or a subsequent owner, 410
616	616	transferee, or assignee, applies for and is granted the 411
617	617	exemption. 412
618	618	8. Notwithstanding an ordinance or resolution, or renewal 413
619	619	thereof, adopted pursuant to this paragraph, a proposed 414
620	620	development that has been administratively approved under s. 415
621	621	125.01055(7)(e) or s. 166.04151(7)(e) before the adoption or 416
622	622	renewal of such ordinance or resolution must be eligible to 417
623	623	receive the exemption for each year it applies for and is 418
624	624	granted the exemption. 419
625	625	9. Before adoption of an ordinance or resolution pursuant 420
626	626	to this paragraph, the taxing authority must conduct an 421
627	627	assessment on the taxing authority's current need for affordable 422
628	628	housing at each of the extremely-low-income, very-low-income, 423
629	629	and low-income limits specified in s. 420.0004, including supply 424
630	630	and demand projections of such need for at least the next 5 425
631	631
632	632	HB 923 2025
633	633
634	634
635	635
636	636	CODING: Words stricken are deletions; words underlined are additions.
637	637	hb923-00
638	638	Page 18 of 51
639	639	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
640	640
641	641
642	642
643	643	years. The needs assessment must be presented at the same public 426
644	644	meeting at which the proposed ordinance or resolution not to 427
645	645	exempt property is adopted by the taxing authority's governing 428
646	646	body. 429
647	647	10. A taxing authority adopting or renewing an ordinance 430
648	648	or resolution pursuant to this paragraph must provide notice of 431
649	649	such ordinance or resol ution to the corporation in the format 432
650	650	prescribed by the corporation. Each year, within 60 days before 433
651	651	the regular session of the Legislature, the corporation shall 434
652	652	submit an annual report to the Governor, the President of the 435
653	653	Senate, and the Speaker of th e House of Representatives on the 436
654	654	adoption or renewal of such ordinances and resolutions. 437
655	655	11. The owner of a multifamily project that would 438
656	656	otherwise qualify for an affordable housing ad valorem tax 439
657	657	exemption under this subsection, which is adversely aff ected by 440
658	658	an ordinance or resolution adopted or renewed in violation of 441
659	659	this paragraph, has a cause of action against the taxing 442
660	660	authority and may recover injunctive relief and compensatory 443
661	661	damages therefor before a court of competent jurisdiction. The 444
662	662	court may also award reasonable attorney fees and costs, not to 445
663	663	exceed $100,000, to a prevailing plaintiff. For purposes of this 446
664	664	subparagraph, the term "reasonable attorney fees and costs" 447
665	665	means the reasonable and necessary attorney fees and costs 448
666	666	incurred for all preparations, motions, hearings, trials, and 449
667	667	appeals in a proceeding. The term does not include attorney fees 450
668	668
669	669	HB 923 2025
670	670
671	671
672	672
673	673	CODING: Words stricken are deletions; words underlined are additions.
674	674	hb923-00
675	675	Page 19 of 51
676	676	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
677	677
678	678
679	679
680	680	or costs directly incurred by or associated with litigation to 451
681	681	determine an award of reasonable attorney fees or costs. 452
682	682	(5)(4) 453
683	683	(b) The multifamily project must: 454
684	684	1. Be composed of an improvement to land where an 455
685	685	improvement did not previously exist or the construction of a 456
686	686	new improvement where an old improvement was removed, which was 457
687	687	substantially completed within 2 years before the first 458
688	688	submission of an application for exemption under this 459
689	689	subsection. For purposes of this subsection, the term 460
690	690	"substantially completed" has the same definition as in s. 461
691	691	192.042(1). 462
692	692	2. Contain at least one unit that is more than 70 units 463
693	693	that are used to, or, for an adaptive reuse project as defined 464
694	694	in s. 196.1979(1), at least 20 percent of the project's 465
695	695	residential units are used to, provide affordable housing to 466
696	696	natural persons or families meeting the extremely -low-income, 467
697	697	very-low-income, or low-income limits specified in s. 420.0004. 468
698	698	3. Be subject to a land use restriction agreement with the 469
699	699	Florida Housing Finance Corporation , or a housing finance 470
700	700	authority pursuant to part IV of chapter 159, recorded in the 471
701	701	official records of the county in which the property is located 472
702	702	that requires that the property be used for 99 years to provide 473
703	703	affordable housing to natural persons or families meeting the 474
704	704	extremely-low-income, very-low-income, low-income, or moderate-475
705	705
706	706	HB 923 2025
707	707
708	708
709	709
710	710	CODING: Words stricken are deletions; words underlined are additions.
711	711	hb923-00
712	712	Page 20 of 51
713	713	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
714	714
715	715
716	716
717	717	income limits specified in s. 420.0004. The ag reement must 476
718	718	include a provision for a penalty for ceasing to provide 477
719	719	affordable housing under the agreement before the end of the 478
720	720	agreement term that is equal to 100 percent of the total value 479
721	721	of the ad valorem tax exemption received to date amount financed 480
722	722	by the corporation multiplied by each year remaining in the 481
723	723	agreement. The agreement may be terminated or modified without 482
724	724	penalty if the exemption under this subsection is repealed. 483
725	725	484
726	726	The property is no longer eligible for this exemption if the 485
727	727	property no longer serves extremely -low-income, very-low-income, 486
728	728	or low-income persons pursuant to the recorded agreement. 487
729	729	(d)1. The property appraiser shall apply the exemption to 488
730	730	those portions of the affordable housing property that are 489
731	731	dedicated to providing provide housing to natural persons or 490
732	732	families meeting the extremely -low-income, very-low-income, or 491
733	733	low-income limits specified in s. 420.0004 before certifying the 492
734	734	tax roll to the tax collector. 493
735	735	2. When determining the value of the portion of property 494
736	736	used to provide affordable housing for purposes of applying an 495
737	737	exemption pursuant to this subsection, the property appraiser 496
738	738	must include in such valuation the proportionate share of the 497
739	739	residential common areas, including the land, fairly 498
740	740	attributable to such portion of property. 499
741	741	(f) Property receiving an exemption pursuant to subsection 500
742	742
743	743	HB 923 2025
744	744
745	745
746	746
747	747	CODING: Words stricken are deletions; words underlined are additions.
748	748	hb923-00
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750	750	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
751	751
752	752
753	753
754	754	(4) (3) or s. 196.1979 is not eligible for this exemption. 501
755	755	(6) A person who purchases a property described in 502
756	756	subparagraph (3)(b)2. is eligible to continue to receive an 503
757	757	exemption under this section until December 31, 2059, as long as 504
758	758	the property complies with the requirements of this section. 505
759	759	Section 2. Subsections (1) through (8) and (9) of section 506
760	760	196.1979, Florida Statutes, are renumbered as subsections (2) 507
761	761	through (9) and (12), respectively, present subsection (1), 508
762	762	paragraphs (c), (e), (i), and (j) of present subsection (3), and 509
763	763	present subsection (4) are amended, and a new subsection (1) and 510
764	764	subsections (10) and (11) are added to that section, to read: 511
765	765	196.1979 County and municipal affordable housing property 512
766	766	exemption.— 513
767	767	(1) As used in this section, the term "adaptive reuse 514
768	768	project" means a conversion of an existing nonresidential 515
769	769	building or structure into multifamily or mixed -use residential 516
770	770	housing. 517
771	771	(2)(a)(1)(a) Notwithstanding ss. 196.195 and 196.196, the 518
772	772	board of county commissioners of a county or the governing body 519
773	773	of a municipality may adopt an ordinance to exempt those 520
774	774	portions of property used to provide affordable housing meeting 521
775	775	the requirements of this section. Such property is considered 522
776	776	property used for a charitable purpose. To be eligible for the 523
777	777	exemption, the portions of property: 524
778	778	1. Must be used to house natural persons or families whose 525
779	779
780	780	HB 923 2025
781	781
782	782
783	783
784	784	CODING: Words stricken are deletions; words underlined are additions.
785	785	hb923-00
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787	787	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
788	788
789	789
790	790
791	791	annual household income: 526
792	792	a. Is greater than 30 percent but not more than 60 percent 527
793	793	of the median annual adjusted gross income for households within 528
794	794	the metropolitan statistical area or, if not within a 529
795	795	metropolitan statistical area, within the county in which the 530
796	796	person or family resides; or 531
797	797	b. Does not exceed 30 percent of the median annual 532
798	798	adjusted gross income for households within the metropolitan 533
799	799	statistical area or, if not within a metropolitan statistical 534
800	800	area, within the county in which the person or family resides; 535
801	801	2. Must be within a multifamily project containing 50 or 536
802	802	more residential units , or less as provided in subparagraph 537
803	803	(c)2., or an adaptive reuse project of which at least 20 percent 538
804	804	of the project's residential units which are used to provide 539
805	805	affordable housing that meets the requirements of this section; 540
806	806	3. Must be rented for an amount no greater than the amount 541
807	807	as specified by the most recent multifamily rental programs 542
808	808	income and rent limit chart posted by the corporation and 543
809	809	derived from the Multifamily Tax Subsidy Proje cts Income Limits 544
810	810	published by the United States Department of Housing and Urban 545
811	811	Development or 90 percent of the fair market value rent as 546
812	812	determined by a rental market study meeting the requirements of 547
813	813	subsection (5) (4), whichever is less; 548
814	814	4. May not have been cited for code violations on three or 549
815	815	more occasions in the 24 months before the submission of a tax 550
816	816
817	817	HB 923 2025
818	818
819	819
820	820
821	821	CODING: Words stricken are deletions; words underlined are additions.
822	822	hb923-00
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824	824	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
825	825
826	826
827	827
828	828	exemption application; 551
829	829	5. May not have any cited code violations that have not 552
830	830	been properly remedied by the property owner before the 553
831	831	submission of a tax exemption application; and 554
832	832	6. May not have any unpaid fines or charges relating to 555
833	833	the cited code violations. Payment of unpaid fines or charges 556
834	834	before a final determination on a property's qualification for 557
835	835	an exemption under this section wi ll not exclude such property 558
836	836	from eligibility if the property otherwise complies with all 559
837	837	other requirements for the exemption. 560
838	838	(b) Qualified property may receive an ad valorem property 561
839	839	tax exemption of: 562
840	840	1. Up to 75 percent of the assessed value of eac h 563
841	841	residential unit used to provide affordable housing if fewer 564
842	842	than 100 percent of the multifamily project's or adaptive reuse 565
843	843	project's residential units are used to provide affordable 566
844	844	housing meeting the requirements of this section. 567
845	845	2. Up to 100 percent of the assessed value of each 568
846	846	residential unit used to provide affordable housing if 100 569
847	847	percent of the multifamily project's or adaptive reuse project's 570
848	848	residential units are used to provide affordable housing meeting 571
849	849	the requirements of this section. 572
850	850	(c) The board of county commissioners of the county or the 573
851	851	governing body of the municipality, as applicable, may choose to 574
852	852	adopt an ordinance that exempts property : 575
853	853
854	854	HB 923 2025
855	855
856	856
857	857
858	858	CODING: Words stricken are deletions; words underlined are additions.
859	859	hb923-00
860	860	Page 24 of 51
861	861	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
862	862
863	863
864	864
865	865	1. Used to provide affordable housing for natural persons 576
866	866	or families meeting the inco me limits of sub-subparagraph 577
867	867	(a)1.a., natural persons or families meeting the income limits 578
868	868	of sub-subparagraph (a)1.b., or both. 579
869	869	2. Within a multifamily project containing at least five 580
870	870	units. 581
871	871	(4)(3) An ordinance granting the exemption authorized by 582
872	872	this section must: 583
873	873	(c) Require the property owner to apply for certification 584
874	874	by the local entity in order to receive the exemption. The 585
875	875	application for certification must be on a form provided by the 586
876	876	local entity designated pursuant to paragraph (b) and include 587
877	877	all of the following: 588
878	878	1. The most recently completed rental market study meeting 589
879	879	the requirements of subsection (5) (4). 590
880	880	2. A list of the units for which the property owner seeks 591
881	881	an exemption. 592
882	882	3. The rent amount received by the property owner for each 593
883	883	unit for which the property owner seeks an exemption. If a unit 594
884	884	is vacant and qualifies for an exemption under subsection (3) 595
885	885	(2), the property owner must provide evidence of the published 596
886	886	rent amount for the vacant unit. 597
887	887	(e) Require the eligible unit to meet the eligibility 598
888	888	criteria of paragraph (2)(a) (1)(a). 599
889	889	(i) Identify the percentage of the assessed value which is 600
890	890
891	891	HB 923 2025
892	892
893	893
894	894
895	895	CODING: Words stricken are deletions; words underlined are additions.
896	896	hb923-00
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898	898	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
899	899
900	900
901	901
902	902	exempted, subject to the percentage limitations in paragraph 601
903	903	(2)(b) (1)(b). 602
904	904	(j) Identify whether the exemption applies to natural 603
905	905	persons or families meeting the income limits of sub -604
906	906	subparagraph (2)(a)1.a. (1)(a)1.a., natural persons or families 605
907	907	meeting the income limits of sub -subparagraph (2)(a)1.b. 606
908	908	(1)(a)1.b., or both. 607
909	909	(5)(4) A rental market study submitted as required by 608
910	910	paragraph (4)(c) (3)(c) must identify the fair market value rent 609
911	911	of each unit for which a property owner seeks an exemption. Only 610
912	912	a certified general appraiser, as defined in s. 475.611, may 611
913	913	issue a rental market study. The certified general appraiser 612
914	914	must be independent of the property owner who requests a rental 613
915	915	market study. In preparing the rental market study, a certified 614
916	916	general appraiser shall comply with the standards of 615
917	917	professional practice purs uant to part II of chapter 475 and use 616
918	918	comparable property within the same geographic area and of the 617
919	919	same type as the property for which the exemption is sought. A 618
920	920	rental market study must have been completed within 3 years 619
921	921	before submission of the applic ation. 620
922	922	(10) Qualifying developments authorized pursuant to s. 621
923	923	125.01055 or s. 166.04151 may abate up to 20 percent of the 622
924	924	development's ad valorem property tax for a period of 10 years 623
925	925	by paying an amount equal to 20 percent of the total amount of 624
926	926	the ad valorem property taxes to be abated at the time a 625
927	927
928	928	HB 923 2025
929	929
930	930
931	931
932	932	CODING: Words stricken are deletions; words underlined are additions.
933	933	hb923-00
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935	935	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
936	936
937	937
938	938
939	939	building permit is issued for the qualifying development. 626
940	940	(11) The Florida Housing Finance Corporation shall adopt 627
941	941	rules establishing standards for monitoring and compliance of a 628
942	942	property owner that rece ives an ad valorem property tax 629
943	943	exemption under this section, including a multifamily's or 630
944	944	adaptive reuse project's minimum number or percentage of 631
945	945	residential units used to provide affordable housing that meets 632
946	946	the requirements of this section. A county o r municipality may 633
947	947	not impose compliance monitoring requirements more stringent 634
948	948	than the standards adopted by the corporation. 635
949	949	Section 3. Paragraph (d) of subsection (2) of section 636
950	950	212.055, Florida Statutes, is amended to read: 637
951	951	212.055 Discretionary sales surtaxes; legislative intent; 638
952	952	authorization and use of proceeds. —It is the legislative intent 639
953	953	that any authorization for imposition of a discretionary sales 640
954	954	surtax shall be published in the Florida Statutes as a 641
955	955	subsection of this section, irrespecti ve of the duration of the 642
956	956	levy. Each enactment shall specify the types of counties 643
957	957	authorized to levy; the rate or rates which may be imposed; the 644
958	958	maximum length of time the surtax may be imposed, if any; the 645
959	959	procedure which must be followed to secure vote r approval, if 646
960	960	required; the purpose for which the proceeds may be expended; 647
961	961	and such other requirements as the Legislature may provide. 648
962	962	Taxable transactions and administrative procedures shall be as 649
963	963	provided in s. 212.054. 650
964	964
965	965	HB 923 2025
966	966
967	967
968	968
969	969	CODING: Words stricken are deletions; words underlined are additions.
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972	972	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
973	973
974	974
975	975
976	976	(2) LOCAL GOVERNMENT INFRASTRU CTURE SURTAX.— 651
977	977	(d) The proceeds of the surtax authorized by this 652
978	978	subsection and any accrued interest shall be expended by the 653
979	979	school district, within the county and municipalities within the 654
980	980	county, or, in the case of a negotiated joint county agreement, 655
981	981	within another county, to finance, plan, and construct 656
982	982	infrastructure; to acquire any interest in land for public 657
983	983	recreation, conservation, or protection of natural resources or 658
984	984	to prevent or satisfy private property rights claims resulting 659
985	985	from limitations imposed by th e designation of an area of 660
986	986	critical state concern; to provide loans, grants, or rebates to 661
987	987	residential or commercial property owners who make energy 662
988	988	efficiency improvements to their residential or commercial 663
989	989	property, if a local government ordinance autho rizing such use 664
990	990	is approved by referendum; or to finance the closure of county -665
991	991	owned or municipally owned solid waste landfills that have been 666
992	992	closed or are required to be closed by order of the Department 667
993	993	of Environmental Protection. Any use of the procee ds or interest 668
994	994	for purposes of landfill closure before July 1, 1993, is 669
995	995	ratified. The proceeds and any interest may not be used for the 670
996	996	operational expenses of infrastructure, except that a county 671
997	997	that has a population of fewer than 75,000 and that is requ ired 672
998	998	to close a landfill may use the proceeds or interest for long -673
999	999	term maintenance costs associated with landfill closure. 674
1000	1000	Counties, as defined in s. 125.011, and charter counties may, in 675
1001	1001
1002	1002	HB 923 2025
1003	1003
1004	1004
1005	1005
1006	1006	CODING: Words stricken are deletions; words underlined are additions.
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1009	1009	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
1010	1010
1011	1011
1012	1012
1013	1013	addition, use the proceeds or interest to retire or service 676
1014	1014	indebtedness incurred for bonds issued before July 1, 1987, for 677
1015	1015	infrastructure purposes, and for bonds subsequently issued to 678
1016	1016	refund such bonds. Any use of the proceeds or interest for 679
1017	1017	purposes of retiring or servicing indebtedness incurred for 680
1018	1018	refunding bonds before July 1, 1999, is ratified. 681
1019	1019	1. For the purposes of this paragraph, the term 682
1020	1020	"infrastructure" means: 683
1021	1021	a. Any fixed capital expenditure or fixed capital outlay 684
1022	1022	associated with the construction, reconstruction, or improvement 685
1023	1023	of public facilities that have a life expectancy of 5 or more 686
1024	1024	years, any related land acquisition, land improvement, design, 687
1025	1025	and engineering costs, and all other professional and related 688
1026	1026	costs required to bring the public facilities into service. For 689
1027	1027	purposes of this sub -subparagraph, the term "public facilities" 690
1028	1028	means facilities as defined in s. 163.3164(41), s. 163.3221(13), 691
1029	1029	or s. 189.012(5), and includes facilities that are necessary to 692
1030	1030	carry out governmental purposes, including, but not limited to, 693
1031	1031	fire stations, general governm ental office buildings, and animal 694
1032	1032	shelters, regardless of whether the facilities are owned by the 695
1033	1033	local taxing authority or another governmental entity. 696
1034	1034	b. A fire department vehicle, an emergency medical service 697
1035	1035	vehicle, a sheriff's office vehicle, a po lice department 698
1036	1036	vehicle, or any other vehicle, and the equipment necessary to 699
1037	1037	outfit the vehicle for its official use or equipment that has a 700
1038	1038
1039	1039	HB 923 2025
1040	1040
1041	1041
1042	1042
1043	1043	CODING: Words stricken are deletions; words underlined are additions.
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1046	1046	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
1047	1047
1048	1048
1049	1049
1050	1050	life expectancy of at least 5 years. 701
1051	1051	c. Any expenditure for the construction, lease, or 702
1052	1052	maintenance of, or provi sion of utilities or security for, 703
1053	1053	facilities, as defined in s. 29.008. 704
1054	1054	d. Any fixed capital expenditure or fixed capital outlay 705
1055	1055	associated with the improvement of private facilities that have 706
1056	1056	a life expectancy of 5 or more years and that the owner agree s 707
1057	1057	to make available for use on a temporary basis as needed by a 708
1058	1058	local government as a public emergency shelter or a staging area 709
1059	1059	for emergency response equipment during an emergency officially 710
1060	1060	declared by the state or by the local government under s. 711
1061	1061	252.38. Such improvements are limited to those necessary to 712
1062	1062	comply with current standards for public emergency evacuation 713
1063	1063	shelters. The owner must enter into a written contract with the 714
1064	1064	local government providing the improvement funding to make the 715
1065	1065	private facility available to the public for purposes of 716
1066	1066	emergency shelter at no cost to the local government for a 717
1067	1067	minimum of 10 years after completion of the improvement, with 718
1068	1068	the provision that the obligation will transfer to any 719
1069	1069	subsequent owner until the end of t he minimum period. 720
1070	1070	e. Any land acquisition expenditure for a residential 721
1071	1071	housing project in which at least 30 percent of the units are 722
1072	1072	affordable to individuals or families whose total annual 723
1073	1073	household income does not exceed 120 percent of the area media n 724
1074	1074	income adjusted for household size, if the land is owned by a 725
1075	1075
1076	1076	HB 923 2025
1077	1077
1078	1078
1079	1079
1080	1080	CODING: Words stricken are deletions; words underlined are additions.
1081	1081	hb923-00
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1083	1083	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
1084	1084
1085	1085
1086	1086
1087	1087	local government or by a special district that enters into a 726
1088	1088	written agreement with the local government to provide such 727
1089	1089	housing. The local government or special district may enter into 728
1090	1090	a ground lease with a public or private person or entity for 729
1091	1091	nominal or other consideration for the construction of the 730
1092	1092	residential housing project on land acquired pursuant to this 731
1093	1093	sub-subparagraph. 732
1094	1094	f. Any expenditure to construct or rehabilitate housing 733
1095	1095	that, for a period of at least 30 years, is affordable as 734
1096	1096	defined in s. 420.0004. 735
1097	1097	g.f. Instructional technology used solely in a school 736
1098	1098	district's classrooms. As used in this sub -subparagraph, the 737
1099	1099	term "instructional technology" means an interactive device t hat 738
1100	1100	assists a teacher in instructing a class or a group of students 739
1101	1101	and includes the necessary hardware and software to operate the 740
1102	1102	interactive device. The term also includes support systems in 741
1103	1103	which an interactive device may mount and is not required to b e 742
1104	1104	affixed to the facilities. 743
1105	1105	2. For the purposes of this paragraph, the term "energy 744
1106	1106	efficiency improvement" means any energy conservation and 745
1107	1107	efficiency improvement that reduces consumption through 746
1108	1108	conservation or a more efficient use of electricity, na tural 747
1109	1109	gas, propane, or other forms of energy on the property, 748
1110	1110	including, but not limited to, air sealing; installation of 749
1111	1111	insulation; installation of energy -efficient heating, cooling, 750
1112	1112
1113	1113	HB 923 2025
1114	1114
1115	1115
1116	1116
1117	1117	CODING: Words stricken are deletions; words underlined are additions.
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1120	1120	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
1121	1121
1122	1122
1123	1123
1124	1124	or ventilation systems; installation of solar panels; building 751
1125	1125	modifications to increase the use of daylight or shade; 752
1126	1126	replacement of windows; installation of energy controls or 753
1127	1127	energy recovery systems; installation of electric vehicle 754
1128	1128	charging equipment; installation of systems for natural gas fuel 755
1129	1129	as defined in s. 206.9951; and installation of efficient 756
1130	1130	lighting equipment. 757
1131	1131	3. Notwithstanding any other provision of this subsection, 758
1132	1132	a local government infrastructure surtax imposed or extended 759
1133	1133	after July 1, 1998, may allocate up to 15 percent of the surtax 760
1134	1134	proceeds for deposit into a trust fund within the county's 761
1135	1135	accounts created for the purpose of funding economic development 762
1136	1136	projects having a general public purpose of improving local 763
1137	1137	economies, including the funding of operational costs and 764
1138	1138	incentives related to economic de velopment. The ballot statement 765
1139	1139	must indicate the intention to make an allocation under the 766
1140	1140	authority of this subparagraph. 767
1141	1141	Section 4. Subsections (24) and (25) of section 213.053, 768
1142	1142	Florida Statutes, are renumbered as subsections (25) and (26), 769
1143	1143	respectively, and a new subsection (24) is added to that section 770
1144	1144	to read: 771
1145	1145	213.053 Confidentiality and information sharing. — 772
1146	1146	(24) The department may make available to the Division of 773
1147	1147	Historical Resources of the Department of State and the 774
1148	1148	Secretary of the Inter ior or his or her delegate, exclusively 775
1149	1149
1150	1150	HB 923 2025
1151	1151
1152	1152
1153	1153
1154	1154	CODING: Words stricken are deletions; words underlined are additions.
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1157	1157	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
1158	1158
1159	1159
1160	1160
1161	1161	for official purposes, information for the purposes of 776
1162	1162	administering s. 220.197. 777
1163	1163	Section 5. Subsection (8) of section 220.02, Florida 778
1164	1164	Statutes, is amended to read: 779
1165	1165	220.02 Legislative intent. — 780
1166	1166	(8) It is the intent of the Legislature that credits 781
1167	1167	against either the corporate income tax or the franchise tax be 782
1168	1168	applied in the following order: those enumerated in s. 631.828, 783
1169	1169	those enumerated in s. 220.191, those enumerated in s. 220.181, 784
1170	1170	those enumerated in s. 220. 183, those enumerated in s. 220.182, 785
1171	1171	those enumerated in s. 220.1895, those enumerated in s. 220.195, 786
1172	1172	those enumerated in s. 220.184, those enumerated in s. 220.186, 787
1173	1173	those enumerated in s. 220.1845, those enumerated in s. 220.19, 788
1174	1174	those enumerated in s. 220 .185, those enumerated in s. 220.1875, 789
1175	1175	those enumerated in s. 220.1876, those enumerated in s. 790
1176	1176	220.1877, those enumerated in s. 220.1878, those enumerated in 791
1177	1177	s. 220.193, those enumerated in former s. 288.9916, those 792
1178	1178	enumerated in former s. 220.1899, those enumerated in former s. 793
1179	1179	220.194, those enumerated in s. 220.196, those enumerated in s. 794
1180	1180	220.198, those enumerated in s. 220.1915, those enumerated in s. 795
1181	1181	220.199, those enumerated in s. 220.1991, and those enumerated 796
1182	1182	in s. 220.1992, and those enumerated in s. 220.197. 797
1183	1183	Section 6. Paragraph (a) of subsection (1) of section 798
1184	1184	220.13, Florida Statutes, is amended to read: 799
1185	1185	220.13 "Adjusted federal income" defined. — 800
1186	1186
1187	1187	HB 923 2025
1188	1188
1189	1189
1190	1190
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1194	1194	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
1195	1195
1196	1196
1197	1197
1198	1198	(1) The term "adjusted federal income" means an amount 801
1199	1199	equal to the taxpayer's taxable income as defined in subsection 802
1200	1200	(2), or such taxable income of more than one taxpayer as 803
1201	1201	provided in s. 220.131, for the taxable year, adjusted as 804
1202	1202	follows: 805
1203	1203	(a) Additions.—There shall be added to such taxable 806
1204	1204	income: 807
1205	1205	1.a. The amount of any tax upon or measure d by income, 808
1206	1206	excluding taxes based on gross receipts or revenues, paid or 809
1207	1207	accrued as a liability to the District of Columbia or any state 810
1208	1208	of the United States which is deductible from gross income in 811
1209	1209	the computation of taxable income for the taxable year. 812
1210	1210	b. Notwithstanding sub -subparagraph a., if a credit taken 813
1211	1211	under s. 220.1875, s. 220.1876, s. 220.1877, or s. 220.1878 is 814
1212	1212	added to taxable income in a previous taxable year under 815
1213	1213	subparagraph 11. and is taken as a deduction for federal tax 816
1214	1214	purposes in the current taxable year, the amount of the 817
1215	1215	deduction allowed shall not be added to taxable income in the 818
1216	1216	current year. The exception in this sub -subparagraph is intended 819
1217	1217	to ensure that the credit under s. 220.1875, s. 220.1876, s. 820
1218	1218	220.1877, or s. 220.1878 is added in the applicable taxable year 821
1219	1219	and does not result in a duplicate addition in a subsequent 822
1220	1220	year. 823
1221	1221	2. The amount of interest which is excluded from taxable 824
1222	1222	income under s. 103(a) of the Internal Revenue Code or any other 825
1223	1223
1224	1224	HB 923 2025
1225	1225
1226	1226
1227	1227
1228	1228	CODING: Words stricken are deletions; words underlined are additions.
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1231	1231	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
1232	1232
1233	1233
1234	1234
1235	1235	federal law, less the associ ated expenses disallowed in the 826
1236	1236	computation of taxable income under s. 265 of the Internal 827
1237	1237	Revenue Code or any other law, excluding 60 percent of any 828
1238	1238	amounts included in alternative minimum taxable income, as 829
1239	1239	defined in s. 55(b)(2) of the Internal Revenue Code, if the 830
1240	1240	taxpayer pays tax under s. 220.11(3). 831
1241	1241	3. In the case of a regulated investment company or real 832
1242	1242	estate investment trust, an amount equal to the excess of the 833
1243	1243	net long-term capital gain for the taxable year over the amount 834
1244	1244	of the capital gain dividends attributable to the taxable year. 835
1245	1245	4. That portion of the wages or salaries paid or incurred 836
1246	1246	for the taxable year which is equal to the amount of the credit 837
1247	1247	allowable for the taxable year under s. 220.181. This 838
1248	1248	subparagraph shall expire on the d ate specified in s. 290.016 839
1249	1249	for the expiration of the Florida Enterprise Zone Act. 840
1250	1250	5. That portion of the ad valorem school taxes paid or 841
1251	1251	incurred for the taxable year which is equal to the amount of 842
1252	1252	the credit allowable for the taxable year under s. 220 .182. This 843
1253	1253	subparagraph shall expire on the date specified in s. 290.016 844
1254	1254	for the expiration of the Florida Enterprise Zone Act. 845
1255	1255	6. The amount taken as a credit under s. 220.195 which is 846
1256	1256	deductible from gross income in the computation of taxable 847
1257	1257	income for the taxable year. 848
1258	1258	7. That portion of assessments to fund a guaranty 849
1259	1259	association incurred for the taxable year which is equal to the 850
1260	1260
1261	1261	HB 923 2025
1262	1262
1263	1263
1264	1264
1265	1265	CODING: Words stricken are deletions; words underlined are additions.
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1268	1268	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
1269	1269
1270	1270
1271	1271
1272	1272	amount of the credit allowable for the taxable year. 851
1273	1273	8. In the case of a nonprofit corporation which holds a 852
1274	1274	pari-mutuel permit and which is exempt from federal income tax 853
1275	1275	as a farmers' cooperative, an amount equal to the excess of the 854
1276	1276	gross income attributable to the pari -mutuel operations over the 855
1277	1277	attributable expenses for the taxable year. 856
1278	1278	9. The amount taken as a credit for the taxable year under 857
1279	1279	s. 220.1895. 858
1280	1280	10. Up to nine percent of the eligible basis of any 859
1281	1281	designated project which is equal to the credit allowable for 860
1282	1282	the taxable year under s. 220.185. 861
1283	1283	11. Any amount taken as a credit for the taxable year 862
1284	1284	under s. 220.1875, s. 220.1876, s. 220.1877, or s. 220.1878. The 863
1285	1285	addition in this subparagraph is intended to ensure that the 864
1286	1286	same amount is not allowed for the tax purposes of this state as 865
1287	1287	both a deduction from income and a credit against the tax. T his 866
1288	1288	addition is not intended to result in adding the same expense 867
1289	1289	back to income more than once. 868
1290	1290	12. The amount taken as a credit for the taxable year 869
1291	1291	under s. 220.193. 870
1292	1292	13. The amount taken as a credit for the taxable year 871
1293	1293	under s. 220.196. The additio n in this subparagraph is intended 872
1294	1294	to ensure that the same amount is not allowed for the tax 873
1295	1295	purposes of this state as both a deduction from income and a 874
1296	1296	credit against the tax. The addition is not intended to result 875
1297	1297
1298	1298	HB 923 2025
1299	1299
1300	1300
1301	1301
1302	1302	CODING: Words stricken are deletions; words underlined are additions.
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1305	1305	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
1306	1306
1307	1307
1308	1308
1309	1309	in adding the same expense back to inco me more than once. 876
1310	1310	14. The amount taken as a credit for the taxable year 877
1311	1311	pursuant to s. 220.198. 878
1312	1312	15. The amount taken as a credit for the taxable year 879
1313	1313	pursuant to s. 220.1915. 880
1314	1314	16. The amount taken as a credit for the taxable year 881
1315	1315	pursuant to s. 220.1 99. 882
1316	1316	17. The amount taken as a credit for the taxable year 883
1317	1317	pursuant to s. 220.1991. 884
1318	1318	18. The amount taken as a credit for the taxable year 885
1319	1319	pursuant to s. 220.197. 886
1320	1320	Section 7. Section 220.197, Florida Statutes, is created 887
1321	1321	to read: 888
1322	1322	220.197 Florida Hou sing Revitalization Act; tax credits; 889
1323	1323	reports.— 890
1324	1324	(1) SHORT TITLE.—This section may be cited as the "Florida 891
1325	1325	Housing Revitalization Act." 892
1326	1326	(2) DEFINITIONS.—As used in this section, the term: 893
1327	1327	(a) "Affordable" has the same meaning as in s. 894
1328	1328	420.0004(3). 895
1329	1329	(b) "Certified historic structure" means a building, 896
1330	1330	including its structural components, as defined in 36 C.F.R. s. 897
1331	1331	67.2, which is of a character subject to the allowance for 898
1332	1332	depreciation provided in s. 167 of the Internal Revenue Code of 899
1333	1333	1986, as amended, and which is: 900
1334	1334
1335	1335	HB 923 2025
1336	1336
1337	1337
1338	1338
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1342	1342	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
1343	1343
1344	1344
1345	1345
1346	1346	1. Individually listed in the National Register of 901
1347	1347	Historic Places; or 902
1348	1348	2. Located within a registered historic district and 903
1349	1349	certified by the Secretary of the Interior as being of historic 904
1350	1350	significance to the registered historic district as set forth in 905
1351	1351	36 C.F.R. s. 67.2. 906
1352	1352	(c) "Certified rehabilitation" means the rehabilitation of 907
1353	1353	a certified historic structure that the Secretary of the 908
1354	1354	Interior has certified to the Secretary of the Treasury as being 909
1355	1355	consistent with the historic characte r of the certified historic 910
1356	1356	structure and, if applicable, consistent with the registered 911
1357	1357	historic district in which the certified historic structure is 912
1358	1358	located as set forth in 36 C.F.R. s. 67.2. 913
1359	1359	(d) "Corporation" means the Florida Housing Finance 914
1360	1360	Corporation. 915
1361	1361	(e) "Division" means the Division of Historical Resources 916
1362	1362	of the Department of State. 917
1363	1363	(f) "Long-term leasehold" means a leasehold in a 918
1364	1364	nonresidential real property for a term of 39 years or more or a 919
1365	1365	leasehold in a residential real property for a term of 27.5 920
1366	1366	years or more. 921
1367	1367	(g) "National Register of Historic Places" means the list 922
1368	1368	of historic properties significant in American history, 923
1369	1369	architecture, archeology, engineering, and culture maintained by 924
1370	1370	the Secretary of the Interior as authorized in 54 U.S.C. s. 925
1371	1371
1372	1372	HB 923 2025
1373	1373
1374	1374
1375	1375
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1379	1379	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
1380	1380
1381	1381
1382	1382
1383	1383	3021. 926
1384	1384	(h) "Placed in service" means when the property is first 927
1385	1385	placed by the taxpayer in a condition or state of readiness and 928
1386	1386	availability for a specifically assigned function, whether for 929
1387	1387	use in a trade or business, for the production of income, or in 930
1388	1388	a tax-exempt activity. 931
1389	1389	(i) "Qualified expenses" means rehabilitation expenditures 932
1390	1390	incurred in this state that qualify for the credit under 26 933
1391	1391	U.S.C. s. 47. 934
1392	1392	(j) "Registered historic district" means a district listed 935
1393	1393	in the National Registe r of Historic Places or a district: 936
1394	1394	1. Designated under general law or local ordinance and 937
1395	1395	certified by the Secretary of the Interior as meeting criteria 938
1396	1396	that will substantially achieve the purposes of preserving and 939
1397	1397	rehabilitating buildings of historic significance to the 940
1398	1398	district; and 941
1399	1399	2. Certified by the Secretary of the Interior as meeting 942
1400	1400	substantially all of the requirements for listing a district in 943
1401	1401	the National Register of Historic Places. 944
1402	1402	(k) "Taxpayer" has the same meaning as in s. 220.03(1)(z) 945
1403	1403	and includes an insurer subject to the insurance premium tax 946
1404	1404	under s. 624.509. 947
1405	1405	(l) "Workforce housing" has the same meaning as in s. 948
1406	1406	420.5095(3). 949
1407	1407	(3) ELIGIBILITY FOR TAX CREDIT. —For taxable years 950
1408	1408
1409	1409	HB 923 2025
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1411	1411
1412	1412
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1416	1416	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
1417	1417
1418	1418
1419	1419
1420	1420	beginning on or after January 1, 2026, ther e is allowed a credit 951
1421	1421	in an amount equal to 20 percent of the total qualified expenses 952
1422	1422	incurred in rehabilitating a certified historic structure that 953
1423	1423	has been approved by the National Park Service to receive the 954
1424	1424	federal historic rehabilitation tax credit. The credit may be 955
1425	1425	used against any tax due for a taxable year under this chapter 956
1426	1426	and the insurance premium tax imposed in s. 624.509 after the 957
1427	1427	application of any other allowable credits. An insurer claiming 958
1428	1428	a credit against insurance premium liability tax under this 959
1429	1429	section may not be required to pay any additional retaliatory 960
1430	1430	tax levied pursuant to s. 624.5091 as a result of claiming such 961
1431	1431	credit. Section 624.5091 does not limit such credit in any 962
1432	1432	manner. A taxpayer may not receive more than $2.5 million in tax 963
1433	1433	credits for a single project, even if such credits are accrued 964
1434	1434	over multiple tax years. 965
1435	1435	(a) To receive a tax credit under this section, within 6 966
1436	1436	months after the date a certified historical structure is placed 967
1437	1437	into service, the taxpayer must apply t o the division, and 968
1438	1438	submit an application to the department, for a tax credit for 969
1439	1439	qualified expenses in the amount and under the conditions and 970
1440	1440	limitations provided in this section. The taxpayer must provide 971
1441	1441	the division with all of the following: 972
1442	1442	1. Documentation showing that: 973
1443	1443	a. The rehabilitation is a certified rehabilitation. 974
1444	1444	b. The structure is a certified historic structure, is 975
1445	1445
1446	1446	HB 923 2025
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1448	1448
1449	1449
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1453	1453	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
1454	1454
1455	1455
1456	1456
1457	1457	income-producing, is located within the state, and was placed 976
1458	1458	into service on or after January 1, 2026. 977
1459	1459	c. The taxpayer had an ownership or a long -term leasehold 978
1460	1460	interest in the certified historic structure during the year in 979
1461	1461	which such structure was placed into service after the certified 980
1462	1462	rehabilitation was complete. 981
1463	1463	d. The total qualified expenses incurred in rehabil itating 982
1464	1464	the certified historic structure exceeded $5,000. 983
1465	1465	e. The applicant intends to exclusively utilize the 984
1466	1466	historic structure to provide affordable or workforce housing. 985
1467	1467	2. An official certificate of eligibility from the 986
1468	1468	division, signed by the Stat e Historic Preservation Officer or 987
1469	1469	the Deputy State Historic Preservation Officer, attesting that 988
1470	1470	the project has been approved by the National Park Service. 989
1471	1471	3. National Park Service Form 10 -168c (Rev. 2023), titled 990
1472	1472	"Historic Preservation Certification A pplication Part 3-Request 991
1473	1473	for Certification of Completed Work," or a similar form, signed 992
1474	1474	by an officer of the National Park Service, attesting that the 993
1475	1475	completed rehabilitation meets the Secretary of the Interior's 994
1476	1476	Standards for Rehabilitation and is cons istent with the historic 995
1477	1477	character of the property and, if applicable, the district in 996
1478	1478	which the completed rehabilitation is located. The form may be 997
1479	1479	obtained through the National Park Service. 998
1480	1480	4. Evidence that the certified historic structure was 999
1481	1481	placed into service after the certified rehabilitation was 1000
1482	1482
1483	1483	HB 923 2025
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1487	1487	CODING: Words stricken are deletions; words underlined are additions.
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1490	1490	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
1491	1491
1492	1492
1493	1493
1494	1494	complete. Such evidence must identify the dates rehabilitation 1001
1495	1495	was started and completed and the date the structure was placed 1002
1496	1496	into service. 1003
1497	1497	5. A list of total qualified expenses incurred by the 1004
1498	1498	taxpayer in rehabilitating the certified historic structure. For 1005
1499	1499	certified rehabilitations with qualified expenses that exceeded 1006
1500	1500	$750,000, the taxpayer must submit an audited cost report issued 1007
1501	1501	by a certified public accountant which itemizes the qualified 1008
1502	1502	expenses incurred in rehabilitating the certified historic 1009
1503	1503	structure. A taxpayer may submit an audited cost report issued 1010
1504	1504	by a certified public accountant which was created for the 1011
1505	1505	purposes of applying for a federal historic rehabilitation tax 1012
1506	1506	credit and which includes all of the qualified expenses incurred 1013
1507	1507	in rehabilitating the certified historic structure. 1014
1508	1508	6. An attestation of the total qualified expenses incurred 1015
1509	1509	in rehabilitating the certified historic structure. 1016
1510	1510	7. A certification from the corporation st ating that all 1017
1511	1511	housing provided by the project meets state requirements for 1018
1512	1512	affordable or workforce housing. 1019
1513	1513	8. The information required to be reported by the 1020
1514	1514	department in subsection (7) to enable the department to compile 1021
1515	1515	its annual report. 1022
1516	1516	1023
1517	1517	A taxpayer may begin the application process before the 1024
1518	1518	certified historic structure is placed into service; however, a 1025
1519	1519
1520	1520	HB 923 2025
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1522	1522
1523	1523
1524	1524	CODING: Words stricken are deletions; words underlined are additions.
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1527	1527	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
1528	1528
1529	1529
1530	1530
1531	1531	final determination on eligibility may not be made until after 1026
1532	1532	the certified historic structure is placed into service. 1027
1533	1533	(b) The department shall only deem a project eligible for 1028
1534	1534	this tax credit if the applicant exclusively submits qualified 1029
1535	1535	expenses used to create affordable or workforce housing. 1030
1536	1536	(c) Affordable or workforce housing must be provided for 1031
1537	1537	at least 5 years or the applicant shall be subject to forfeiture 1032
1538	1538	of the tax credit as provided under paragraph (7)(g). 1033
1539	1539	(d) Within 90 days after receipt of the information 1034
1540	1540	required under paragraph (a) or the certified historic structure 1035
1541	1541	is placed into service, whichever is later, the division must 1036
1542	1542	approve or deny the application. If approved, the division must 1037
1543	1543	submit a copy of the certification and the information provided 1038
1544	1544	by the applicant to the department within 10 days after the 1039
1545	1545	division's approval. 1040
1546	1546	(4) CARRYFORWARD OF TAX CREDIT. — 1041
1547	1547	(a) If a taxpayer is eligible for a tax credit that 1042
1548	1548	exceeds taxes owed, the taxpayer may carry the unused tax credit 1043
1549	1549	forward for a period of up to 5 taxable years. 1044
1550	1550	(b) A carryforward is considered the remaining portion of 1045
1551	1551	a tax credit that cannot be claimed in th e current tax year. 1046
1552	1552	(5) SALE OR TRANSFER OF TAX CREDIT. — 1047
1553	1553	(a) A taxpayer that incurs qualified expenses may sell or 1048
1554	1554	transfer all or part of the tax credit that may otherwise be 1049
1555	1555	claimed to another taxpayer. 1050
1556	1556
1557	1557	HB 923 2025
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1559	1559
1560	1560
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1564	1564	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
1565	1565
1566	1566
1567	1567
1568	1568	(b) A taxpayer to which all or part of the ta x credit is 1051
1569	1569	sold or transferred may sell or transfer all or part of the tax 1052
1570	1570	credit that may otherwise be claimed to another taxpayer. 1053
1571	1571	(c) A taxpayer that sells or transfers a tax credit to 1054
1572	1572	another taxpayer must provide a copy of the certificate of 1055
1573	1573	eligibility together with the audited cost report to the 1056
1574	1574	purchaser or transferee. 1057
1575	1575	(d) Qualified expenses may be counted only once in 1058
1576	1576	determining the amount of an available tax credit, and more than 1059
1577	1577	one taxpayer may not claim a tax credit for the same qualified 1060
1578	1578	expenses. 1061
1579	1579	(e) There is no limit on the total number of transactions 1062
1580	1580	for the sale or transfer of all or part of a tax credit. 1063
1581	1581	(f)1. A taxpayer that sells or transfers a tax credit 1064
1582	1582	under this subsection and the purchaser or transferee shall 1065
1583	1583	jointly submit written notice of the sale or transfer to the 1066
1584	1584	department on a form adopted by the department no later than 30 1067
1585	1585	days after the date of the sale or transfer. The notice must 1068
1586	1586	include all of the following: 1069
1587	1587	a. The date of the sale or transfer. 1070
1588	1588	b. The amount of the tax credit sold or transferred. 1071
1589	1589	c. The name and federal tax identification number of the 1072
1590	1590	taxpayer that sold or transferred the tax credit and the 1073
1591	1591	purchaser or transferee. 1074
1592	1592	d. The amount of the tax credit owned by the taxpayer 1075
1593	1593
1594	1594	HB 923 2025
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1596	1596
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1601	1601	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
1602	1602
1603	1603
1604	1604
1605	1605	before the sale or transfer and the amount the selling or 1076
1606	1606	transferring taxpayer retained, if any, after the sale or 1077
1607	1607	transfer. 1078
1608	1608	2. The sale or transfer of a tax credit under this 1079
1609	1609	subsection does not extend the period for which a tax credit may 1080
1610	1610	be carried forward and does n ot increase the total amount of the 1081
1611	1611	tax credit that may be claimed. 1082
1612	1612	3. If a taxpayer claims a tax credit for qualified 1083
1613	1613	expenses, another taxpayer may not use the same expenses as the 1084
1614	1614	basis for claiming a tax credit. 1085
1615	1615	4. Notwithstanding the requirements of this subsection, a 1086
1616	1616	tax credit earned by, purchased by, or transferred to a 1087
1617	1617	partnership, limited liability company, S corporation, or other 1088
1618	1618	pass-through entity may be allocated to the partners, members, 1089
1619	1619	or shareholders of that entity and claimed under th is section in 1090
1620	1620	accordance with any agreement among the partners, members, or 1091
1621	1621	shareholders and without regard to the ownership interest of the 1092
1622	1622	partners, members, or shareholders in the rehabilitated 1093
1623	1623	certified historic structure. 1094
1624	1624	(g) If the tax credit is re duced due to a determination, 1095
1625	1625	examination, or audit by the department, the tax deficiency must 1096
1626	1626	be recovered from the taxpayer that sold or transferred the tax 1097
1627	1627	credit or the purchaser or transferee that claimed the tax 1098
1628	1628	credit up to the amount of the tax cre dit claimed. 1099
1629	1629	(h) Any subsequent deficiencies shall be assessed against 1100
1630	1630
1631	1631	HB 923 2025
1632	1632
1633	1633
1634	1634
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1638	1638	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
1639	1639
1640	1640
1641	1641
1642	1642	the purchaser or transferee that claimed the tax credit or, in 1101
1643	1643	the case of multiple succeeding entities, in the order of tax 1102
1644	1644	credit succession. 1103
1645	1645	(6) AUDIT AUTHORITY; REVOCATION AND FORFEITURE OF TAX 1104
1646	1646	CREDITS; FRAUDULENT CLAIMS. — 1105
1647	1647	(a) The department, with the assistance of the division, 1106
1648	1648	may perform any additional financial and technical audits and 1107
1649	1649	examinations, including examining the accounts, books, or 1108
1650	1650	records of the taxpayer, to ve rify the legitimacy of the 1109
1651	1651	qualified expenses included in a tax credit return and to ensure 1110
1652	1652	compliance with this section. If requested by the department, 1111
1653	1653	the division must provide technical assistance for any technical 1112
1654	1654	audits or examinations performed unde r this subsection. 1113
1655	1655	(b) It is grounds for forfeiture of previously claimed and 1114
1656	1656	received tax credits if the department determines, as a result 1115
1657	1657	of an audit or information received from the division or the 1116
1658	1658	United States Department of the Interior or Internal Revenue 1117
1659	1659	Service, that a taxpayer received a tax credit pursuant to this 1118
1660	1660	section to which the taxpayer was not entitled. In the case of 1119
1661	1661	fraud, the taxpayer may not claim any future tax credits under 1120
1662	1662	this section. 1121
1663	1663	(c) The taxpayer must return forfeited ta x credits to the 1122
1664	1664	department, and such funds shall be paid into the General 1123
1665	1665	Revenue Fund. 1124
1666	1666	(d) The taxpayer shall file with the department an amended 1125
1667	1667
1668	1668	HB 923 2025
1669	1669
1670	1670
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1675	1675	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
1676	1676
1677	1677
1678	1678
1679	1679	tax return or such other report as the department prescribes and 1126
1680	1680	shall pay any required tax within 60 days after the taxpayer 1127
1681	1681	receives notification from the United States Internal Revenue 1128
1682	1682	Service that a previously approved tax credit has been revoked 1129
1683	1683	or modified, if uncontested, or within 60 days after a final 1130
1684	1684	order is issued following proceedings involving a contested 1131
1685	1685	revocation or modification order. 1132
1686	1686	(e) A notice of deficiency may be issued by the department 1133
1687	1687	at any time within 5 years after the date on which the taxpayer 1134
1688	1688	receives notification from the United States Internal Revenue 1135
1689	1689	Service that a previously approved tax credit has been revoked 1136
1690	1690	or modified. If a taxpayer fails to notify the department of any 1137
1691	1691	change in its tax credit claimed, a notice of deficiency may be 1138
1692	1692	issued at any time. In either case, the amount of any proposed 1139
1693	1693	assessment set forth in su ch notice of deficiency is limited to 1140
1694	1694	the amount of the tax credit claimed. 1141
1695	1695	(f) A taxpayer that fails to report and timely pay any tax 1142
1696	1696	due as a result of the forfeiture of its tax credit violates 1143
1697	1697	this section and is subject to applicable penalties and 1144
1698	1698	interest. 1145
1699	1699	(g) A taxpayer that fails to provide affordable or 1146
1700	1700	workforce housing for at least 5 years forfeits the tax credit. 1147
1701	1701	The taxpayer must return the forfeited credit to the department, 1148
1702	1702	and such funds shall be paid into the General Revenue Fund. The 1149
1703	1703	forfeiture of the credit shall be prorated at a rate of 4 1150
1704	1704
1705	1705	HB 923 2025
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1707	1707
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1712	1712	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
1713	1713
1714	1714
1715	1715
1716	1716	percent of the total credit for each year that housing was not 1151
1717	1717	provided. 1152
1718	1718	(7) ANNUAL REPORT.—Based on the applications submitted and 1153
1719	1719	approved, the department must submit a report by December 1 of 1154
1720	1720	each year to the Governor, the President of the Senate, and the 1155
1721	1721	Speaker of the House of Representatives that identifies, in the 1156
1722	1722	aggregate, all of the following: 1157
1723	1723	(a) The number of employees hired during construction 1158
1724	1724	phases. 1159
1725	1725	(b) The use of each newly rehabi litated building and the 1160
1726	1726	expected number of employees hired. 1161
1727	1727	(c) The number of affordable housing or workforce housing 1162
1728	1728	units created or preserved. 1163
1729	1729	(d) The property values before and after the certified 1164
1730	1730	rehabilitations. 1165
1731	1731	(8) DEPARTMENT DUTIES. —The department shall: 1166
1732	1732	(a) Establish a cooperative agreement with the division. 1167
1733	1733	(b) Adopt any necessary form required to claim a tax 1168
1734	1734	credit under this section. 1169
1735	1735	(c) Provide administrative guidelines and procedures 1170
1736	1736	required to administer this section, including rules 1171
1737	1737	establishing an entitlement to and sale or transfer of a tax 1172
1738	1738	credit under this section. 1173
1739	1739	(d) Provide examination and audit procedures required to 1174
1740	1740	administer this section. 1175
1741	1741
1742	1742	HB 923 2025
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1749	1749	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
1750	1750
1751	1751
1752	1752
1753	1753	(9) RULES.—The department, the division, and the 1176
1754	1754	corporation may adopt rules to administer this section, 1177
1755	1755	including the form of application and establishing 1178
1756	1756	qualifications for the tax credit. 1179
1757	1757	Section 8. Subsection (36) of section 420.503, Florida 1180
1758	1758	Statutes, is amended to read: 1181
1759	1759	420.503 Definitions. —As used in this part, th e term: 1182
1760	1760	(36) "Qualified contract" has the same meaning as in 26 1183
1761	1761	U.S.C. s. 42(h)(6)(F) in effect on the date of the preliminary 1184
1762	1762	determination certificate for the low -income housing tax credits 1185
1763	1763	for the development that is the subject of the qualified 1186
1764	1764	contract request, unless the Internal Revenue Code requires a 1187
1765	1765	different statute or regulation to apply to the development. The 1188
1766	1766	corporation shall deem a bona fide contract to be a qualified 1189
1767	1767	contract at the time the second earnest money bona fide contract 1190
1768	1768	is presented to the owner and the initial deposit is deposited 1191
1769	1769	in escrow in accordance with the terms of the bona fide 1192
1770	1770	contract, and, in such event, the corporation is deemed to have 1193
1771	1771	fulfilled its responsibility to present the owner with a 1194
1772	1772	qualified contract. 1195
1773	1773	Section 9. Subsection (5) of section 420.50871, Florida 1196
1774	1774	Statutes, is renumbered as subsection (6), paragraph (b) of 1197
1775	1775	subsection (1) and present subsection (5) are amended, and a new 1198
1776	1776	subsection (5) is added to that section, to read: 1199
1777	1777	420.50871 Allocation o f increased revenues derived from 1200
1778	1778
1779	1779	HB 923 2025
1780	1780
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1786	1786	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
1787	1787
1788	1788
1789	1789
1790	1790	amendments to s. 201.15 made by ch. 2023 -17.—Funds that result 1201
1791	1791	from increased revenues to the State Housing Trust Fund derived 1202
1792	1792	from amendments made to s. 201.15 made by chapter 2023 -17, Laws 1203
1793	1793	of Florida, must be used annual ly for projects under the State 1204
1794	1794	Apartment Incentive Loan Program under s. 420.5087 as set forth 1205
1795	1795	in this section, notwithstanding ss. 420.507(48) and (50) and 1206
1796	1796	420.5087(1) and (3). The Legislature intends for these funds to 1207
1797	1797	provide for innovative projects th at provide affordable and 1208
1798	1798	attainable housing for persons and families working, going to 1209
1799	1799	school, or living in this state. Projects approved under this 1210
1800	1800	section are intended to provide housing that is affordable as 1211
1801	1801	defined in s. 420.0004, notwithstanding the income limitations 1212
1802	1802	in s. 420.5087(2). Beginning in the 2023 -2024 fiscal year and 1213
1803	1803	annually for 10 years thereafter: 1214
1804	1804	(1) The corporation shall allocate 70 percent of the funds 1215
1805	1805	provided by this section to issue competitive requests for 1216
1806	1806	application for the a ffordable housing project purposes 1217
1807	1807	specified in this subsection. The corporation shall finance 1218
1808	1808	projects that: 1219
1809	1809	(b) Address urban infill, including conversions of vacant, 1220
1810	1810	dilapidated, or functionally obsolete buildings or the use of 1221
1811	1811	underused commercial pr operty. As used in this paragraph, the 1222
1812	1812	term "urban infill" has the same meaning as in s. 163.3164(51). 1223
1813	1813	The term includes the development or redevelopment of mobile 1224
1814	1814	home parks and manufactured home communities that meet the urban 1225
1815	1815
1816	1816	HB 923 2025
1817	1817
1818	1818
1819	1819
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1823	1823	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
1824	1824
1825	1825
1826	1826
1827	1827	infill criteria and the cri teria for redevelopment of an 1226
1828	1828	existing affordable housing development as provided in paragraph 1227
1829	1829	(a). 1228
1830	1830	(5) The corporation may not require a project financed 1229
1831	1831	under this section to use low -income housing tax credits under 1230
1832	1832	s. 42 of the Internal Revenue Code o r tax-exempt bond financing. 1231
1833	1833	Section 10. Paragraph (d) is added to subsection (5) of 1232
1834	1834	section 420.50872, Florida Statutes, to read: 1233
1835	1835	420.50872 Live Local Program. — 1234
1836	1836	(5) ADMINISTRATION; RULES. — 1235
1837	1837	(d) The corporation may not require a project financed 1236
1838	1838	under this section to use low -income housing tax credits under 1237
1839	1839	s. 42 of the Internal Revenue Code or tax -exempt bond financing. 1238
1840	1840	Section 11. Subsection (7) of section 624.509, Florida 1239
1841	1841	Statutes, is amended to read: 1240
1842	1842	624.509 Premium tax; rate and computat ion.— 1241
1843	1843	(7) Credits and deductions against the tax imposed by this 1242
1844	1844	section shall be taken in the following order: deductions for 1243
1845	1845	assessments made pursuant to s. 440.51; credits for taxes paid 1244
1846	1846	under ss. 175.101 and 185.08; credits for income taxes paid 1245
1847	1847	under chapter 220 and the credit allowed under subsection (5), 1246
1848	1848	as these credits are limited by subsection (6); the credit 1247
1849	1849	allowed under s. 624.51057; the credit allowed under s. 1248
1850	1850	624.51058; the credit allowed under s. 624.5107; the credit 1249
1851	1851	allowed under s. 220.1 97; and all other available credits and 1250
1852	1852
1853	1853	HB 923 2025
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1860	1860	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
1861	1861
1862	1862
1863	1863
1864	1864	deductions. 1251
1865	1865	Section 12. The amendments made by this act to s s. 1252
1866	1866	196.1978 and 196.1979 , Florida Statutes, and the creation of s. 1253
1867	1867	220.197, Florida Statutes, first apply to the 2026 tax roll. 1254
1868	1868	Section 13. This act shall take effect July 1, 2025. 1255