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FL S1672
Bill
Status
Introduced
1/9/2026
Primary Sponsor
Stan McClain
Click for details
AI Summary
- Employers that have operated in Florida for at least 3 consecutive years may claim a 100% tax credit for monetary contributions (minimum $1,000) made to employees for down payments or closing costs on a first home purchase, capped at $5,000 per employee
- Eligible employees must be Florida permanent residents who have never previously owned a home in the state, and the purchased property must serve as their primary residence
- Employers may also claim a 100% tax credit for contributions made to government down payment assistance programs, including the Florida Hometown Hero program
- The Department of Revenue may authorize up to $5 million in tax credits per year for fiscal years 2026-2027, 2027-2028, and 2028-2029, approved on a first-come, first-served basis; unused credits may carry forward up to 3 years but may not be sold or transferred
- The provision is set to repeal on January 1, 2030, unless reenacted by the Legislature, and takes effect July 1, 2026
Legislative Description
Tax Credits for Contributions to Assist Homebuyers
Last Action
Now in Finance and Tax
1/28/2026
Committee Referrals
Finance and Tax1/28/2026
Full Bill Text
No bill text available