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FL S1036
Bill
AI Summary
- Creates the "Hotel-to-home Tax Credit Program" in Florida to incentivize the redevelopment of hotel structures into residential housing
- Provides a tax credit of up to 9% of the total project cost per year for a 5-year credit period, beginning the year a project is completed, but no more than necessary to make the project feasible
- Assigns the Florida Housing Finance Corporation responsibility for determining eligible projects, allocating tax credits, and preparing an annual plan that must be approved by the Governor
- Allocation procedures must consider factors including timeliness of the application, project location, relative housing need in the area, economic feasibility, and speed at which converted housing will be occupied
- Tax credits may be transferred once by the recipient but may not be re-transferred; the bill takes effect July 1, 2025
Legislative Description
Conversion of Hotels Into Residential Housing
Last Action
Died in Community Affairs
6/16/2025
Full Bill Text
No bill text available