FL S0928

Modifies the definition of "qualifying housing development" to include federally-qualified low-income housing projects under IRC Section 42(g) regardless of whether they meet the state's 60-percent-eligible-persons requirement.

Eliminates the ad valorem tax exemption for affordable housing property owned by Florida-based limited partnerships, restricting the exemption to nonprofit entities qualified as charitable under IRC Section 501(c)(3).

Requires the Florida Housing Finance Corporation to reserve up to 5 percent of annual allocations for high-priority affordable housing projects and an additional 5 percent for projects serving persons with disabling conditions, with authority to adopt rules prioritizing affordable housing projects in the Florida Keys.

Revises the State Apartment Incentive Loan Program to establish a competitive evaluation and selection process and requires the corporation's strategic business plan to be consistent with a long-range program plan for affordable housing.

Expands annual reporting requirements to include detailed tenant characteristics, rental and homeownership unit data, program accomplishments, and comprehensive loan information; requires the Auditor General to conduct an operational audit by December 1, 2016; and repeals the HOPE program under Section 420.5091.