FL H0489

Adds new definition of "demonstrated capacity" requiring completion of at least three affordable housing projects in the United States within the preceding 5 years, with at least one completed in Florida

Creates new definition of "qualifying principal" as one or more persons owning at least 25 percent of a legally formed corporation, association, joint venture, or partnership

Revises "eligible housing provider" definition to require at least one qualifying principal with demonstrated capacity to construct or rehabilitate affordable housing

Adds new requirement that sponsors must have demonstrated capacity to construct or rehabilitate affordable housing

Updates cross-references in section 420.628 regarding affordable housing eligibility for young adults leaving foster care to reflect renumbered subsections