Senate Bill 2310

    Florida Senate - 2000                                  SB 2310

    By Senator Kurth





    15-1276-00

  1                      A bill to be entitled

  2         An act relating to ad valorem taxation;

  3         amending s. 196.1978, F.S.; redesignating the

  4         exemption for low-income housing as the

  5         affordable housing property exemption; amending

  6         the criteria for eligibility; providing an

  7         effective date.

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  9  Be It Enacted by the Legislature of the State of Florida:

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11         Section 1.  Section 196.1978, Florida Statutes, is

12  amended to read:

13         196.1978  Affordable Low-income housing property

14  exemption.--Property used to provide affordable housing

15  serving pursuant to any state housing program authorized under

16  chapter 420 to low-income or very-low-income persons having

17  eligible incomes as defined by s. 420.0004 or s. 159.603(7),

18  which property is owned entirely by a nonprofit corporation

19  that which is qualified as charitable under s. 501(c)(3) of

20  the Internal Revenue Code and which complies with Rev. Proc.

21  96-32, 1996-1 C.B. 717, shall be considered property owned by

22  an exempt entity and used for a charitable purpose, and such

23  property shall be exempt from ad valorem taxation to the

24  extent authorized in s. 196.196. All property identified in

25  this section shall comply with the criteria for determination

26  of exempt status to be applied by property appraisers on an

27  annual basis as defined in s. 196.195.

28         Section 2.  This act shall take effect January 1, 2001.

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CODING: Words stricken are deletions; words underlined are additions.






    Florida Senate - 2000                                  SB 2310
    15-1276-00




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  2                          SENATE SUMMARY

  3    Redesignates the low-income housing property exemption
      from ad valorem taxation as the affordable housing
  4    property exemption. Modifies criteria used in determining
      eligibility for the exemption.
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