FL S7054

Overhauls Florida's private activity bond allocation system by repealing multiple existing statutes and replacing them with new procedures administered by the Division of Bond Finance of the State Board of Administration, effective January 1, 2025

Allocates the annual state volume limitation into three initial pools: 50% to affordable housing allocation pools, 25% to the Florida Housing Finance Corporation pool, and 25% to the economic development allocation pool, with unused amounts rolling into a state allocation pool on October 1 and a carryforward allocation pool on December 1

Establishes 14 geographic regions for the regional affordable housing allocation pool (January 1–May 31), with volume limitation distributed proportionally by population, then transitions unused amounts to a statewide affordable housing pool (June 1–September 30) available to all issuers

Requires issuers to file a notice of intent to issue containing project details, TEFRA approval certification, bond counsel opinion, and a nonrefundable fee (not to exceed $500) before receiving a conditional confirmation of allocation, with a final certification issued only after timely filing of an issuance report

Creates a prioritization process using random number drawings when requested allocations exceed available state volume limitation in any pool, and establishes a carryforward allocation pool for projects qualifying under IRC Section 146(f) to carry unused allocations beyond the calendar year