FL H0401

Amends section 196.1975 of Florida Statutes to expand eligible ownership structures for nonprofit homes for the aged seeking ad valorem tax exemptions to include Florida limited partnerships where the sole general partner is a nonprofit corporation under chapter 617.

Permits entities wholly owned by a nonprofit corporation under chapter 617 to serve as the general partner of a limited partnership qualifying for the exemption.

Maintains requirement that the nonprofit corporation must have been exempt from federal income taxation as of January 1 of the year exemption is requested, qualified under Internal Revenue Code section 501(c)(3).

Takes effect January 1, 2023.