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FL S0328
Bill
AI Summary
- Counties and municipalities must allow multifamily and mixed-use residential developments in commercial, industrial, or mixed-use zones if at least 40% of units are rental units affordable for at least 30 years, with administrative approval required and no zoning changes, variances, or comprehensive plan amendments needed for height, density, or floor area ratio
- Floor area ratio for qualifying developments cannot be restricted below 150% of the highest currently allowed ratio, and height restrictions are limited to the highest allowed height within 1 mile or 3 stories (whichever is higher), with a special provision allowing height limits of 150% of adjacent buildings when bordered on two or more sides by single-family residential areas with at least 25 contiguous homes
- Parking requirements must be reduced by at least 20% for developments within one-half mile of a major transportation hub with accessible pedestrian infrastructure, and must be eliminated entirely for mixed-use developments within designated transit-oriented development areas
- Ad valorem property tax exemptions are revised for affordable housing multifamily projects, with 75% exemption for units housing families at 80–120% of area median income and full exemption for units at or below 80% of area median income, with provisions applying retroactively to January 1, 2024, and repealing December 31, 2059
- Appropriates $100 million in nonrecurring funds from federal Coronavirus State Fiscal Recovery Fund money to the State Housing Trust Fund for the Florida Hometown Hero Program, which assists first-time homebuyers with household incomes up to 150% of state or local median income
Legislative Description
Affordable Housing
Last Action
Chapter No. 2024-188, companion bill(s) passed, see CS/HB 7073 (Ch. 2024-158)
5/17/2024
Committee Referrals
Fiscal Policy1/11/2024
Full Bill Text
No bill text available