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FL H0685
Bill
Status
Failed
6/16/2025
Primary Sponsor
Jose Alvarez
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AI Summary
- Creates the "Hotel-to-home Tax Credit Program" (s. 220.1851 and s. 420.50931, F.S.) to incentivize the redevelopment of hotels into residential housing
- Authorizes a corporate tax credit of up to 9% of total project cost per year for a 5-year credit period, capped at the amount necessary to make the project feasible
- Assigns the Florida Housing Finance Corporation responsibility for determining eligible projects, allocating tax credits, and preparing a Governor-approved annual plan with allocation guidelines
- Allows tax credit recipients to transfer credits one time, with the Department of Revenue required to adopt rules governing such transfers
- Requires allocation procedures to consider factors including application timeliness, project location, area housing need, economic feasibility, and speed of occupancy, with an effective date of July 1, 2025
Legislative Description
Conversion of Hotels into Residential Housing
Last Action
Died in Ways & Means Committee
6/16/2025
Committee Referrals
Ways and Means Committee2/26/2025
Full Bill Text
No bill text available