FL H0457

Counties may levy discretionary surtaxes on building-related permits to establish and finance a Low and Moderate Income Insurance Assistance Fund for no-interest loans to eligible homeowners.

Maximum loan amount is $2,000 per year per family, with 75% of fund revenues allocated to low-income families (≤80% of median area income) and 25% to moderate-income families (80-140% of median area income).

Surtax rates range from $1 per permit (permits under $11) to $50 per permit (permits $1,000 or more), with 90% of revenue deposited in the assistance fund and 10% available for administrative costs.

Loans must be repaid from proceeds if the homestead is sold or refinanced, and repayment amounts must be returned to the fund; checks are made directly to insurance companies.

Program may be adopted by constitutional charter counties beginning July 1, 2010, and by all remaining counties beginning July 1, 2011.