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FL S0220
Bill
AI Summary
- Amends Section 196.1975, Florida Statutes, to expand eligibility for the ad valorem tax exemption for nonprofit homes for the aged
- Extends exemption eligibility to Florida limited partnerships whose sole general partner is an entity not licensed under chapter 429 (assisted living facilities) that is wholly owned by a corporation not for profit under chapter 617
- Previously, eligibility was limited to nonprofit corporations under chapter 617 or Florida limited partnerships with a sole general partner that is a nonprofit corporation
- The nonprofit corporation must have been exempt from federal income taxation under Section 501(c)(3) of the Internal Revenue Code as of January 1 of the year for which the exemption is requested
- Effective date of January 1, 2025
Legislative Description
Ad Valorem Tax Exemption for Nonprofit Homes for the Aged
Last Action
Died in Finance and Tax
3/8/2024
Committee Referrals
Finance and Tax1/10/2024
Full Bill Text
No bill text available