FL H1005

Creates an essential worker housing tax credit allowing taxpayers owning interests in eligible essential worker housing developments to claim a tax credit against Florida corporate income tax.

Defines eligible developments as residential projects with at least 10 percent of units sold to essential workers below fair market value, or mixed-use projects with at least 20 percent of residential units sold to essential workers below fair market value.

Establishes tax credit amounts based on discount level: 1 percent of total tax due for 10 percent discounts, 2 percent for 20 percent discounts, and 3 percent for 30 percent discounts.

Designates essential workers as veterans or current/retired law enforcement officers, correctional officers, firefighters, emergency medical technicians, paramedics, nurses, and instructional personnel.

Grants the Florida Housing Finance Corporation authority to administer the program, determine eligible developments, adopt procedures, and issue eligibility statements; takes effect July 1, 2023.