Florida Senate - 2005                      COMMITTEE AMENDMENT
    Bill No. CS for SB 334
                        Barcode 473816
                            CHAMBER ACTION
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11  The Committee on Governmental Oversight and Productivity
12  (Lawson) recommended the following amendment:
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14         Senate Amendment 
15         On page 2, line 30, through
16            page 3, line 27, delete those lines
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18  and insert:  
19         (8)(a)  To organize for the purpose of creating a
20  for-profit or not-for-profit corporation, limited liability
21  company, or other similar business entity pursuant to all
22  applicable laws of this state in which the housing authority
23  may hold an ownership interest or participate in its
24  governance in order to develop, acquire, lease, construct,
25  rehabilitate, manage, or operate multifamily or single-family
26  residential projects. These projects may include
27  nonresidential uses and may use public and private funds to
28  serve individuals or families who meet the applicable income
29  requirements of the state or federal program involved; whose
30  income does not exceed 150 percent of the applicable median
31  income for the area, as established by the United States
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    Florida Senate - 2005                      COMMITTEE AMENDMENT
    Bill No. CS for SB 334
                        Barcode 473816
 1  Department of Housing and Urban Development; and who, in the
 2  determination of the housing authority, lack sufficient income
 3  or assets to enable them to purchase or rent a decent, safe,
 4  and sanitary dwelling. These corporations, limited liability
 5  companies, or other business entities may join partnerships,
 6  joint ventures, or limited liability companies pursuant to
 7  applicable laws or may otherwise engage with business entities
 8  in developing, acquiring, leasing, constructing,
 9  rehabilitating, managing, or operating such projects.
10         (b)  The creation by a housing authority of such a
11  corporation, limited liability company, or other business
12  entity that is properly registered pursuant to all applicable
13  laws before the effective date of this act is ratified and
14  validated if the creation of such corporation, limited
15  liability company, or other business entity would have been
16  valid had this act been in effect at the time such
17  corporation, limited liability company, or other business
18  entity was created and registered.
19         (c)  Proceedings or acts performed by a housing
20  authority or a corporation, limited liability company, or
21  other business entity authorized pursuant to paragraph (b) are
22  ratified and validated if such proceedings or acts were in
23  furtherance of the purposes set forth in this chapter and
24  would have been valid had this act been in effect at the time
25  such proceedings or acts were performed.
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