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FL H0411
Bill
Status
Failed
6/16/2025
Primary Sponsor
Ways & Means Committee
Click for details
AI Summary
- Expands the affordable housing ad valorem tax exemption under s. 196.1978, F.S., to include land leased from a Housing Finance Authority pursuant to part IV of chapter 159, in addition to land owned entirely by a qualifying nonprofit entity
- Qualifying nonprofits must be 501(c)(3) charitable organizations in compliance with Rev. Proc. 96-32, with the land leased for a minimum of 99 years and predominantly used (more than 50% of improvement square footage) for housing persons or families at extremely-low-income through moderate-income levels
- Authorizes the Department of Revenue to adopt emergency rules to implement the changes, with emergency rules effective for 6 months after adoption and renewable while permanent rulemaking is pending
- Amendments first apply to the 2026 tax roll, with the act taking effect January 1, 2026; the overall exemption provision is set to repeal on December 31, 2059
Legislative Description
Affordable Property Ad Valorem Tax Exemption on Leased Land
Last Action
Died in Rules
6/16/2025
Committee Referrals
Commerce Committee3/26/2025
Housing, Agriculture & Tourism Subcommittee3/21/2025
Ways and Means Committee2/12/2025
Full Bill Text
No bill text available