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A bill to be entitled |
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An act relating to community contribution tax credits; |
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amending s. 220.183, F.S.; revising reservation |
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requirements for community contributions under eligibility |
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requirements; providing an effective date. |
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Be It Enacted by the Legislature of the State of Florida: |
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Section 1. Paragraph (b) of subsection (2) of section |
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220.183, Florida Statutes, is amended to read: |
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220.183 Community contribution tax credit.-- |
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(2) ELIGIBILITY REQUIREMENTS.-- |
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(b) All community contributions must be reserved |
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exclusively for use in projects as defined in s. 220.03(1)(t). |
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No more thanThe Office of Tourism, Trade, and Economic |
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Development may reserve up to50 percent of the available annual |
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tax credits may be grantedfor housing for very-low-income |
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households pursuant to s. 420.9071(28) for the first 6 months of |
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the fiscal year. |
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Section 2. This act shall take effect upon becoming a law. |