Florida Senate - 2008 CS for SB 482
By the Committee on Community Affairs; and Senators Garcia and Bullard
578-06015-08 2008482c1
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A bill to be entitled
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An act relating to affordable housing; amending s.
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420.503, F.S.; defining the term "moderate rehabilitation"
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for purposes of the Florida Housing Finance Corporation
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Act; amending s. 420.5087, F.S.; revising purposes for
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which State Apartment Incentive Loans may be used;
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amending s. 420.9071, F.S.; defining the terms "assisted
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housing," "assisted housing development," and
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"preservation"; revising the definition of "eligible
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housing," "local housing incentive strategies," and
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"recaptured funds" for purposes of the State Housing
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Initiatives Partnership Act; amending s. 420.9072, F.S.;
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revising provisions related to the administration of
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certain funds in the Local Government Housing Trust Fund;
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amending s. 420.9073, F.S.; revising requirements for
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distribution of funds in the Local Government Housing
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Trust Fund; specifying purposes for which such withheld
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funds may be used; clarifying purposes for which certain
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local governments may expend funds from the Local
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Government Housing Trust Fund; amending s. 420.9075, F.S.;
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requiring that local housing assistance plans address the
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special housing needs of persons with disabilities;
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authorizing the Florida Housing Finance Corporation to
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define "high-cost counties" by rule; authorizing high-cost
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counties or certain municipalities to assist persons
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meeting specific income requirements; revising
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requirements to be included in the local housing
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assistance plan; requiring counties and certain
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municipalities to include certain strategies in the local
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housing assistance plan; revising criteria that applies to
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awards made for the purpose of providing affordable
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housing; authorizing and limiting the percentage of funds
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from the local housing distribution that may be used for
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certain manufactured housing; extending the expiration
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date of an exemption from certain income requirements in
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specified areas; authorizing the use of certain funds for
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preconstruction activities; providing that certain costs
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are a program expense; authorizing counties and certain
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municipalities to award grant funds under certain
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conditions; providing for the repayment of funds by
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counties or certain municipalities; amending provisions
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related to the administration of certain funds in the
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Local Government Housing Trust Fund; amending s. 420.9076,
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F.S.; revising appointments to a local affordable housing
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advisory committee; deleting cross-references to conform
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to changes made by the act; deleting provisions related to
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the administration of certain funds by the Local
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Government Housing Trust Fund; amending s. 421.08, F.S.;
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limiting the authority of housing authorities in certain
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circumstances; amending s. 159.807, F.S.; deleting an
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exemption for the Florida Housing Finance Corporation from
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the applicability of certain uses of the state allocation
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pool; repealing s. 420.9078, F.S., relating to state
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administration of funds remaining in the Local Government
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220.183, F.S.; conforming cross-references to changes made
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by the act; amending s. 624.5105, F.S.; conforming cross-
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references to changes made by the act; providing an
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effective date.
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Be It Enacted by the Legislature of the State of Florida:
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Section 1. Present subsections (25) through (41) of section
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420.503, Florida Statutes, are redesignated as subsections (26)
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through (42), respectively, and a new subsection (25) is added to
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that section, to read:
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420.503 Definitions.--As used in this part, the term:
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(25) "Moderate rehabilitation" means repair or restoration
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of a dwelling unit when the value of such repair or restoration
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is 40 percent or less of the value of the dwelling but not less
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than $10,000.
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Section 2. Paragraph (l) of subsection (6) of section
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420.5087, Florida Statutes, is amended to read:
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420.5087 State Apartment Incentive Loan Program.--There is
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hereby created the State Apartment Incentive Loan Program for the
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purpose of providing first, second, or other subordinated
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mortgage loans or loan guarantees to sponsors, including for-
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profit, nonprofit, and public entities, to provide housing
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affordable to very-low-income persons.
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(6) On all state apartment incentive loans, except loans
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made to housing communities for the elderly to provide for
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lifesafety, building preservation, health, sanitation, or
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security-related repairs or improvements, the following
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provisions shall apply:
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(l) The proceeds of all loans shall be used for new
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construction, moderate rehabilitation, or substantial
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rehabilitation which creates or preserves affordable, safe, and
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sanitary housing units.
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Section 3. Section 420.9071, Florida Statutes, is amended
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to read:
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term:
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(1) "Adjusted for family size" means adjusted in a manner
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that results in an income eligibility level that is lower for
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households having fewer than four people, or higher for
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households having more than four people, than the base income
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eligibility determined as provided in subsection (20) (19),
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subsection (21) (20), or subsection (30) (28), based upon a
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formula established by the United States Department of Housing
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and Urban Development.
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(2) "Affordable" means that monthly rents or monthly
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mortgage payments including taxes and insurance do not exceed 30
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percent of that amount which represents the percentage of the
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median annual gross income for the households as indicated in
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subsection (20) (19), subsection (21) (20), or subsection (30)
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(28). However, it is not the intent to limit an individual
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household's ability to devote more than 30 percent of its income
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for housing, and housing for which a household devotes more than
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30 percent of its income shall be deemed affordable if the first
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institutional mortgage lender is satisfied that the household can
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afford mortgage payments in excess of the 30 percent benchmark.
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(3) "Affordable housing advisory committee" means the
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committee appointed by the governing body of a county or eligible
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municipality for the purpose of recommending specific initiatives
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and incentives to encourage or facilitate affordable housing as
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provided in s. 420.9076.
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(4) "Annual gross income" means annual income as defined
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under the Section 8 housing assistance payments programs in 24
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C.F.R. part 5; annual income as reported under the census long
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form for the recent available decennial census; or adjusted gross
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income as defined for purposes of reporting under Internal
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Revenue Service Form 1040 for individual federal annual income
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tax purposes; or other method of verifying income as provided by
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rule of the corporation. Counties and eligible municipalities
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shall calculate income by annualizing verified sources of income
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for the household as the amount of income to be received in a
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household during the 12 months following the effective date of
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the determination.
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(5) "Assisted housing" or "assisted housing development"
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means a rental housing development, including rental housing in a
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mixed-use development, which has received or currently receives
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funding from any federal or state housing program.
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(6)(5) "Award" means a loan, grant, or subsidy funded
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wholly or partially by the local housing assistance trust fund.
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(7)(6) "Community-based organization" means a nonprofit
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organization that has among its purposes the provision of
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affordable housing to persons who have special needs or have very
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low income, low income, or moderate income within a designated
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area, which may include a municipality, a county, or more than
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one municipality or county, and maintains, through a minimum of
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one-third representation on the organization's governing board,
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accountability to housing program beneficiaries and residents of
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the designated area. A community housing development organization
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established pursuant to 24 C.F.R. part 92.2 and a community
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development corporation created pursuant to chapter 290 are
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examples of community-based organizations.
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(8)(7) "Corporation" means the Florida Housing Finance
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Corporation.
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(9)(8) "Eligible housing" means any real and personal
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property located within the county or the eligible municipality
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which is designed and intended for the primary purpose of
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providing decent, safe, and sanitary residential units that are
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designed to meet the standards of the Florida Building Code or
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previous building codes adopted under chapter 553, or
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manufactured housing constructed after June 1994 and installed in
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accordance with the installation standards for mobile or
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manufactured homes contained in rules of the Department of
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Highway Safety and Motor Vehicles, for home ownership or rental
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for eligible persons as designated by each county or eligible
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municipality participating in the State Housing Initiatives
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Partnership Program.
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(10)(9) "Eligible municipality" means a municipality that
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is eligible for federal community development block grant
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entitlement moneys as an entitlement community identified in 24
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C.F.R. s. 570, subpart D, Entitlement Grants, or a nonentitlement
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municipality that is receiving local housing distribution funds
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under an interlocal agreement that provides for possession and
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administrative control of funds to be transferred to the
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nonentitlement municipality. An eligible municipality that defers
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its participation in community development block grants does not
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affect its eligibility for participation in the State Housing
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Initiatives Partnership Program.
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(11)(10) "Eligible person" or "eligible household" means
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one or more natural persons or a family determined by the county
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or eligible municipality to be of very low income, low income, or
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moderate income according to the income limits adjusted to family
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size published annually by the United States Department of
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Housing and Urban Development based upon the annual gross income
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of the household.
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(12)(11) "Eligible sponsor" means a person or a private or
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public for-profit or not-for-profit entity that applies for an
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award under the local housing assistance plan for the purpose of
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providing eligible housing for eligible persons.
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(13)(12) "Grant" means an award from the local housing
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assistance trust fund to an eligible sponsor or eligible person
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to partially assist in the construction, rehabilitation, or
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financing of eligible housing or to provide the cost of tenant or
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ownership qualifications without requirement for repayment as
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long as the condition of award is maintained.
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(14)(13) "Loan" means an award from the local housing
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assistance trust fund to an eligible sponsor or eligible person
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to partially finance the acquisition, construction, or
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rehabilitation of eligible housing with requirement for repayment
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or provision for forgiveness of repayment if the condition of the
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award is maintained.
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(15)(14) "Local housing assistance plan" means a concise
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description of the local housing assistance strategies and local
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housing incentive strategies adopted by local government
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resolution with an explanation of the way in which the program
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rule.
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(16)(15) "Local housing assistance strategies" means the
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housing construction, rehabilitation, repair, or finance program
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implemented by a participating county or eligible municipality
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with the local housing distribution or other funds deposited into
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the local housing assistance trust fund.
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(17)(16) "Local housing incentive strategies" means local
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regulatory reform or incentive programs to encourage or
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facilitate affordable housing production, which include at a
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minimum, assurance that permits as defined in s. 163.3164(7) and
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(8) for affordable housing projects are expedited to a greater
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degree than other projects; an ongoing process for review of
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local policies, ordinances, regulations, and plan provisions that
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increase the cost of housing prior to their adoption; and a
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schedule for implementing the incentive strategies. Local housing
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incentive strategies may also include other regulatory reforms,
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such as those enumerated in s. 420.9076 or those recommended by
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the affordable housing advisory committee in its triennial
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evaluation of the implementation of affordable housing
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incentives, and adopted by the local governing body.
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(18)(17) "Local housing distributions" means the proceeds
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of the taxes collected under chapter 201 deposited into the Local
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Government Housing Trust Fund and distributed to counties and
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eligible municipalities participating in the State Housing
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Initiatives Partnership Program pursuant to s. 420.9073.
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(19)(18) "Local housing partnership" means the
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implementation of the local housing assistance plan in a manner
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that involves the applicable county or eligible municipality,
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lending institutions, housing builders and developers, real
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estate professionals, advocates for low-income persons,
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community-based housing and service organizations, and providers
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of professional services relating to affordable housing. The term
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includes initiatives to provide support services for housing
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program beneficiaries such as training to prepare persons for the
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responsibility of homeownership, counseling of tenants, and the
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establishing of support services such as day care, health care,
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and transportation.
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(20)(19) "Low-income person" or "low-income household"
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means one or more natural persons or a family that has a total
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annual gross household income that does not exceed 80 percent of
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the median annual income adjusted for family size for households
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within the metropolitan statistical area, the county, or the
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nonmetropolitan median for the state, whichever amount is
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greatest. With respect to rental units, the low-income
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household's annual income at the time of initial occupancy may
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not exceed 80 percent of the area's median income adjusted for
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family size. While occupying the rental unit, a low-income
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household's annual income may increase to an amount not to exceed
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140 percent of 80 percent of the area's median income adjusted
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for family size.
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(21)(20) "Moderate-income person" or "moderate-income
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household" means one or more natural persons or a family that has
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a total annual gross household income that does not exceed 120
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percent of the median annual income adjusted for family size for
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households within the metropolitan statistical area, the county,
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or the nonmetropolitan median for the state, whichever is
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greatest. With respect to rental units, the moderate-income
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household's annual income at the time of initial occupancy may
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not exceed 120 percent of the area's median income adjusted for
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family size. While occupying the rental unit, a moderate-income
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household's annual income may increase to an amount not to exceed
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140 percent of 120 percent of the area's median income adjusted
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for family size.
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(22)(21) "Personal property" means major appliances,
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including a freestanding refrigerator or stove, to be identified
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on the encumbering documents.
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(23)(22) "Plan amendment" means the addition or deletion of
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a local housing assistance strategy or local housing incentive
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strategy. Plan amendments must at all times maintain consistency
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with program requirements and must be submitted to the
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corporation for review pursuant to s. 420.9072(3). Technical or
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clarifying revisions may not be considered plan amendments but
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must be transmitted to the corporation for purposes of
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notification.
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(24) "Preservation" means efforts taken to keep rents in
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existing assisted housing or existing assisted housing
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developments affordable for extremely low, very-low, low, and
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moderate-income households while ensuring that such property
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stays in good physical and financial condition for an extended
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period.
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(25)(23) "Population" means the latest official state
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estimate of population certified pursuant to s. 186.901 prior to
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the beginning of the state fiscal year.
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(26)(24) "Program income" means the proceeds derived from
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interest earned on or investment of the local housing
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distribution and other funds deposited into the local housing
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assistance trust fund, proceeds from loan repayments, recycled
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funds, and all other income derived from use of funds deposited
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in the local housing assistance trust fund. It does not include
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recaptured funds as defined in subsection (27) (25).
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(27)(25) "Recaptured funds" means funds that are recouped
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by a county or eligible municipality in accordance with the
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recapture provisions of its local housing assistance plan
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persons or eligible sponsors where the funds were not used for
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assistance to an eligible household for an eligible activity, or
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where there is a who default on the terms of a grant award or
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loan award.
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(28)(26) "Rent subsidies" means ongoing monthly rental
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assistance. The term does not include initial assistance to
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tenants, such as grants or loans for security and utility
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deposits.
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(29)(27) "Sales price" or "value" means, in the case of
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acquisition of an existing or newly constructed unit, the amount
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on the executed sales contract. For eligible persons who are
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building a unit on land that they own, the sales price is
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determined by an appraisal performed by a state-certified
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appraiser. The appraisal must include the value of the land and
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the improvements using the after-construction value of the
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property and must be dated within 12 months of the date
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construction is to commence. The sales price of any unit must
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include the value of the land in order to qualify as eligible
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housing as defined in subsection (9) (8). In the case of
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rehabilitation or emergency repair of an existing unit that does
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not create additional living space, sales price or value means
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the value of the real property, as determined by an appraisal
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performed by a state-certified appraiser and dated within 12
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months of the date construction is to commence or the assessed
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value of the real property as determined by the county property
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appraiser. In the case of rehabilitation of an existing unit that
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includes the addition of new living space, sales price or value
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means the value of the real property, as determined by an
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appraisal performed by a state-certified appraiser and dated
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within 12 months of the date construction is to commence or the
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assessed value of the real property as determined by the county
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property appraiser, plus the cost of the improvements in either
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case.
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(30)(28) "Very-low-income person" or "very-low-income
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household" means one or more natural persons or a family that has
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a total annual gross household income that does not exceed 50
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percent of the median annual income adjusted for family size for
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households within the metropolitan statistical area, the county,
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or the nonmetropolitan median for the state, whichever is
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greatest. With respect to rental units, the very-low-income
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household's annual income at the time of initial occupancy may
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not exceed 50 percent of the area's median income adjusted for
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family size. While occupying the rental unit, a very-low-income
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household's annual income may increase to an amount not to exceed
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140 percent of 50 percent of the area's median income adjusted
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for family size.
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Section 4. Subsection (6) of section 420.9072, Florida
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Statutes, is amended to read:
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420.9072 State Housing Initiatives Partnership
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Program.--The State Housing Initiatives Partnership Program is
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created for the purpose of providing funds to counties and
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eligible municipalities as an incentive for the creation of local
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housing partnerships, to expand production of and preserve
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affordable housing, to further the housing element of the local
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government comprehensive plan specific to affordable housing, and
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to increase housing-related employment.
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(6) The moneys that otherwise would be distributed pursuant
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to s. 420.9073 to a local government that does not meet the
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program's requirements for receipts of such distributions shall
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remain in the Local Government Housing Trust Fund to be
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administered by the corporation pursuant to s. 420.9078.
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Section 5. Subsections (1), (2), and (3) of section
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420.9073, Florida Statutes, are amended, and subsections (5),
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(6), and (7) are added to that section, to read:
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420.9073 Local housing distributions.--
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(1) Subject to the availability of funds, distributions
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calculated in this subsection section shall be disbursed on a
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quarterly or more frequent monthly basis by the corporation
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beginning the first day of the month after program approval
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pursuant to s. 420.9072. Each county's share of the funds to be
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distributed from the portion of the funds in the Local Government
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Housing Trust Fund received pursuant to s. 201.15(9) shall be
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calculated by the corporation for each fiscal year as follows:
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(a) Each county other than a county that has implemented
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the provisions of chapter 83-220, Laws of Florida, as amended by
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chapters 84-270, 86-152, and 89-252, Laws of Florida, shall
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receive the guaranteed amount for each fiscal year.
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(b) Each county other than a county that has implemented
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the provisions of chapter 83-220, Laws of Florida, as amended by
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chapters 84-270, 86-152, and 89-252, Laws of Florida, may receive
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an additional share calculated as follows:
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1. Multiply each county's percentage of the total state
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population excluding the population of any county that has
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implemented the provisions of chapter 83-220, Laws of Florida, as
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amended by chapters 84-270, 86-152, and 89-252, Laws of Florida,
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by the total funds to be distributed.
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2. If the result in subparagraph 1. is less than the
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guaranteed amount as determined in subsection (3), that county's
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additional share shall be zero.
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3. For each county in which the result in subparagraph 1.
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is greater than the guaranteed amount as determined in subsection
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(3), the amount calculated in subparagraph 1. shall be reduced by
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the guaranteed amount. The result for each such county shall be
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expressed as a percentage of the amounts so determined for all
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counties. Each such county shall receive an additional share
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equal to such percentage multiplied by the total funds received
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by the Local Government Housing Trust Fund pursuant to s.
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201.15(9) reduced by the guaranteed amount paid to all counties.
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(2) Subject to the availability of funds Effective July 1,
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1995, distributions calculated in this subsection section shall
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be disbursed on a quarterly or more frequent monthly basis by the
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corporation beginning the first day of the month after program
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approval pursuant to s. 420.9072. Each county's share of the
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funds to be distributed from the portion of the funds in the
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Local Government Housing Trust Fund received pursuant to s.
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201.15(10) shall be calculated by the corporation for each fiscal
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year as follows:
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(a) Each county shall receive the guaranteed amount for
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each fiscal year.
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(b) Each county may receive an additional share calculated
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as follows:
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1. Multiply each county's percentage of the total state
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population, by the total funds to be distributed.
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2. If the result in subparagraph 1. is less than the
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guaranteed amount as determined in subsection (3), that county's
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additional share shall be zero.
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3. For each county in which the result in subparagraph 1.
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is greater than the guaranteed amount, the amount calculated in
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subparagraph 1. shall be reduced by the guaranteed amount. The
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result for each such county shall be expressed as a percentage of
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the amounts so determined for all counties. Each such county
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shall receive an additional share equal to this percentage
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multiplied by the total funds received by the Local Government
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Housing Trust Fund pursuant to s. 201.15(10) as reduced by the
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guaranteed amount paid to all counties.
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(3) Calculation of guaranteed amounts:
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(a) The guaranteed amount under subsection (1) shall be
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calculated for each state fiscal year by multiplying $350,000 by
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a fraction, the numerator of which is the amount of funds
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distributed to the Local Government Housing Trust Fund pursuant
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to s. 201.15(9) and the denominator of which is the total amount
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of funds distributed to the Local Government Housing Trust Fund
427
pursuant to s. 201.15 less the total amount withheld, but not
428
more than $10 million as provided in subsections (5) and (6).
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(b) The guaranteed amount under subsection (2) shall be
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calculated for each state fiscal year by multiplying $350,000 by
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a fraction, the numerator of which is the amount of funds
432
distributed to the Local Government Housing Trust Fund pursuant
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to s. 201.15(10) and the denominator of which is the total amount
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of funds distributed to the Local Government Housing Trust Fund
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pursuant to s. 201.15 less the total amount withheld, but not
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more than $10 million as provided in subsections (5) and (6).
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(5) Notwithstanding subsections (1)-(4), the corporation
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may withhold up to $5 million of the total amount distributed
439
each fiscal year from the Local Government Housing Trust Fund to
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provide additional funding to counties and eligible
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municipalities where a state of emergency has been declared by
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the Governor under chapter 252. Any portion of the withheld funds
443
not distributed by the end of the fiscal year shall be
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distributed as provided in subsections (1) and (2).
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(6) Notwithstanding subsections (1)-(4), the corporation
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may withhold up to $5 million of the total amount distributed
447
each fiscal year from the Local Government Housing Trust Fund to
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provide funding to counties and eligible municipalities to
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purchase properties subject to a State Housing Initiatives
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Partnership Program lien and on which foreclosure proceedings
451
have been instituted by a mortgagee. Each county and eligible
452
municipality receiving funds under this subsection shall repay
453
such funds to the corporation on or before the expenditure
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deadline for the fiscal year in which the funds were awarded.
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Amounts not repaid by the county or eligible municipality shall
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be withheld from the subsequent year's distribution under
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subsections (1) and (2). Any portion of such funds not
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distributed under this subsection by the end of the fiscal year
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shall be distributed as provided in subsections (1) and (2).
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(7) A county receiving local housing distributions under
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this section or an eligible municipality receiving local housing
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distributions under an interlocal agreement shall expend those
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rules of the corporation, and the county's local housing
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assistance plan.
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Section 6. Subsections (1), (3), (5), (7), and (8),
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paragraphs (a) and (h) of subsection (10), and paragraph (b) of
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subsection (13) of section 420.9075, Florida Statutes, are
469
amended, and subsection (14) is added to that section, to read:
470
420.9075 Local housing assistance plans; partnerships.--
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(1)(a) Each county or eligible municipality participating
472
in the State Housing Initiatives Partnership Program shall
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develop and implement a local housing assistance plan created to
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make affordable residential units available to persons of very
475
low income, low income, or moderate income and to persons who
476
have special housing needs, including, but not limited to,
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homeless people, the elderly, and migrant farmworkers, and
478
persons with disabilities. High-cost counties as defined by rule
479
of the corporation or eligible municipalities may include
480
strategies to assist persons and households having annual incomes
481
of not more than 140 percent of area median income. The plans are
482
intended to increase the availability of affordable residential
483
units by combining local resources and cost-saving measures into
484
a local housing partnership and using private and public funds to
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reduce the cost of housing.
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(b) Local housing assistance plans may allocate funds to:
487
1. Implement local housing assistance strategies for the
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provision of affordable housing.
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2. Supplement funds available to the corporation to provide
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enhanced funding of state housing programs within the county or
491
the eligible municipality.
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3. Provide the local matching share of federal affordable
493
housing grants or programs.
494
4. Fund emergency repairs, including, but not limited to,
495
repairs performed by existing service providers under
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5. Further the housing element of the local government
498
comprehensive plan adopted pursuant to s. 163.3184, specific to
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affordable housing.
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(3)(a) Each local housing assistance plan shall include a
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definition of essential service personnel for the county or
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eligible municipality, including, but not limited to, teachers
503
and educators, other school district, community college, and
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university employees, police and fire personnel, health care
505
personnel, skilled building trades personnel, and other job
506
categories.
507
(b) Each county and each eligible municipality is
508
encouraged to develop a strategy within its local housing
509
assistance plan that emphasizes the recruitment and retention of
510
essential service personnel. The local government is encouraged
511
to involve public and private sector employers. Compliance with
512
the eligibility criteria established under this strategy shall be
513
verified by the county or eligible municipality.
514
(c) Each county and each eligible municipality is
515
encouraged to develop a strategy within its local housing
516
assistance plan that addresses the needs of persons who are
517
deprived of affordable housing due to the closure of a mobile
518
home park or the conversion of affordable rental units to
519
condominiums.
520
(d) Each county and each eligible municipality shall
521
describe initiatives in the local housing assistance plan to
522
encourage or require innovative design, green building
523
principles, storm-resistant construction, or other elements that
524
reduce long-term costs relating to maintenance, utilities, or
525
insurance.
526
(e) Each county and each eligible municipality is
527
encouraged to develop a strategy within its local housing
528
assistance plan which provides program funds for the preservation
529
of assisted housing or assisted housing developments.
530
(5) The following criteria apply to awards made to eligible
531
sponsors or eligible persons for the purpose of providing
532
eligible housing:
533
(a) At least 65 percent of the funds made available in each
534
county and eligible municipality from the local housing
535
distribution must be reserved for home ownership for eligible
536
persons.
537
(b) At least 75 percent of the funds made available in each
538
county and eligible municipality from the local housing
539
distribution must be reserved for construction, rehabilitation,
540
or emergency repair of affordable, eligible housing.
541
(c) Not more than 15 percent of the funds made available in
542
each county and eligible municipality from the local housing
543
distribution may be used for manufactured housing constructed
544
after June 1994 and installed in accordance with the installation
545
standards for mobile or manufactured homes contained in rules of
546
the Department of Highway Safety and Motor Vehicles.
547
(d)(c) The sales price or value of new or existing eligible
548
housing may not exceed 90 percent of the average area purchase
549
price in the statistical area in which the eligible housing is
550
located. Such average area purchase price may be that calculated
551
for any 12-month period beginning not earlier than the fourth
552
calendar year prior to the year in which the award occurs or as
553
otherwise established by the United States Department of the
554
Treasury.
555
(e)(d)1. All units constructed, rehabilitated, or otherwise
556
assisted with the funds provided from the local housing
557
assistance trust fund must be occupied by very-low-income
558
persons, low-income persons, and moderate-income persons except
559
as otherwise provided in this section.
560
2. At least 30 percent of the funds deposited into the
561
local housing assistance trust fund must be reserved for awards
562
to very-low-income persons or eligible sponsors who will serve
563
very-low-income persons and at least an additional 30 percent of
564
the funds deposited into the local housing assistance trust fund
565
must be reserved for awards to low-income persons or eligible
566
sponsors who will serve low-income persons. This subparagraph
567
does not apply to a county or an eligible municipality that
568
includes, or has included within the previous 5 years, an area of
569
critical state concern designated or ratified by the Legislature
570
for which the Legislature has declared its intent to provide
571
affordable housing. The exemption created by this act expires on
572
July 1, 2013 2008.
573
(f)(e) Loans shall be provided for periods not exceeding 30
574
years, except for deferred payment loans or loans that extend
575
beyond 30 years which continue to serve eligible persons.
576
(g)(f) Loans or grants for eligible rental housing
577
constructed, rehabilitated, or otherwise assisted from the local
578
housing assistance trust fund must be subject to recapture
579
requirements as provided by the county or eligible municipality
580
in its local housing assistance plan unless reserved for eligible
581
persons for 15 years or the term of the assistance, whichever
582
period is longer. Eligible sponsors that offer rental housing for
583
sale before 15 years or that have remaining mortgages funded
584
under this program must give a first right of refusal to eligible
585
nonprofit organizations for purchase at the current market value
586
for continued occupancy by eligible persons.
587
(h)(g) Loans or grants for eligible owner-occupied housing
588
constructed, rehabilitated, or otherwise assisted from proceeds
589
provided from the local housing assistance trust fund shall be
590
subject to recapture requirements as provided by the county or
591
eligible municipality in its local housing assistance plan.
592
(i)(h) The total amount of monthly mortgage payments or the
593
amount of monthly rent charged by the eligible sponsor or her or
594
his designee must be made affordable.
595
(j)(i) The maximum sales price or value per unit and the
596
maximum award per unit for eligible housing benefiting from
597
awards made pursuant to this section must be established in the
598
local housing assistance plan.
599
(k)(j) The benefit of assistance provided through the State
600
Housing Initiatives Partnership Program must accrue to eligible
601
persons occupying eligible housing. This provision shall not be
602
construed to prohibit use of the local housing distribution funds
603
for a mixed income rental development.
604
(l)(k) Funds from the local housing distribution not used
605
to meet the criteria established in paragraph (a) or paragraph
606
(b) or not used for the administration of a local housing
607
assistance plan must be used for housing production and finance
608
activities, including, but not limited to, financing
609
preconstruction activities or the purchase of existing units,
610
providing rental housing, and providing home ownership training
611
to prospective home buyers and owners of homes assisted through
612
the local housing assistance plan.
613
1. Notwithstanding the provisions of paragraphs (a) and
615
may also be used to fund activities described in this paragraph.
616
2. Where preconstruction due diligence activities conducted
617
as part of a preservation strategy show that preservation of the
618
units is not feasible and will not result in the production of an
619
eligible unit, such costs shall be deemed a program expense
620
rather than an administrative expense if such program expenses do
621
not exceed 3 percent of the annual local housing distribution.
622
(m) Each county and each eligible municipality may award
623
funds as a grant for construction, rehabilitation, or repair as
624
part of disaster recovery or emergency repairs or to remedy
625
accessibility or health and safety deficiencies. Any other grants
626
must be approved as part of the local housing assistance plan.
627
628
If both an award under the local housing assistance plan and
629
federal low-income housing tax credits are used to assist a
630
project and there is a conflict between the criteria prescribed
631
in this subsection and the requirements of s. 42 of the Internal
632
Revenue Code of 1986, as amended, the county or eligible
633
municipality may resolve the conflict by giving precedence to the
634
requirements of s. 42 of the Internal Revenue Code of 1986, as
635
amended, in lieu of following the criteria prescribed in this
636
subsection with the exception of paragraphs (a) and (d) of this
637
subsection.
638
(7) The moneys deposited in the local housing assistance
639
trust fund shall be used to administer and implement the local
640
housing assistance plan. The cost of administering the plan may
641
not exceed 5 percent of the local housing distribution moneys and
642
program income deposited into the trust fund. A county or an
643
eligible municipality may not exceed the 5-percent limitation on
644
administrative costs, unless its governing body finds, by
645
resolution, that 5 percent of the local housing distribution plus
646
5 percent of program income is insufficient to adequately pay the
647
necessary costs of administering the local housing assistance
648
plan. The cost of administering the program may not exceed 10
649
percent of the local housing distribution plus 10 5 percent of
650
program income deposited into the trust fund, except that small
651
counties, as defined in s. 120.52(17), and eligible
652
municipalities receiving a local housing distribution of up to
653
$350,000 may use up to 10 percent of program income for
654
administrative costs.
655
(8) Pursuant to s. 420.531, the corporation shall provide
656
training and technical assistance to local governments regarding
657
the creation of partnerships, the design of local housing
658
assistance strategies, the implementation of local housing
659
incentive strategies, and the provision of support services.
660
(10) Each county or eligible municipality shall submit to
661
the corporation by September 15 of each year a report of its
662
affordable housing programs and accomplishments through June 30
663
immediately preceding submittal of the report. The report shall
664
be certified as accurate and complete by the local government's
665
chief elected official or his or her designee. Transmittal of the
666
annual report by a county's or eligible municipality's chief
667
elected official, or his or her designee, certifies that the
668
local housing incentive strategies, or, if applicable, the local
669
housing incentive plan, have been implemented or are in the
670
process of being implemented pursuant to the adopted schedule for
671
implementation. The report must include, but is not limited to:
672
(a) The number of households served by income category,
673
age, family size, and race, and data regarding any special needs
674
populations such as farmworkers, homeless persons, persons with
675
disabilities, and the elderly. Counties shall report this
676
information separately for households served in the
677
unincorporated area and each municipality within the county.
678
(h) Such other data or affordable housing accomplishments
679
considered significant by the reporting county or eligible
680
municipality or by the corporation.
681
(13)
682
(b) If, as a result of its review of the annual report, the
683
corporation determines that a county or eligible municipality has
684
failed to implement a local housing incentive strategy, or, if
685
applicable, a local housing incentive plan, it shall send a
686
notice of termination of the local government's share of the
687
local housing distribution by certified mail to the affected
688
county or eligible municipality.
689
1. The notice must specify a date of termination of the
690
funding if the affected county or eligible municipality does not
691
implement the plan or strategy and provide for a local response.
692
A county or eligible municipality shall respond to the
693
corporation within 30 days after receipt of the notice of
694
termination.
695
2. The corporation shall consider the local response that
696
extenuating circumstances precluded implementation and grant an
697
extension to the timeframe for implementation. Such an extension
698
shall be made in the form of an extension agreement that provides
699
a timeframe for implementation. The chief elected official of a
700
county or eligible municipality or his or her designee shall have
701
the authority to enter into the agreement on behalf of the local
702
government.
703
3. If the county or the eligible municipality has not
704
implemented the incentive strategy or entered into an extension
705
agreement by the termination date specified in the notice, the
706
local housing distribution share terminates, and any uncommitted
707
local housing distribution funds held by the affected county or
708
eligible municipality in its local housing assistance trust fund
709
shall be transferred to the Local Government Housing Trust Fund
710
to the credit of the corporation to administer pursuant to s.
712
4.a. If the affected local government fails to meet the
713
timeframes specified in the agreement, the corporation shall
714
terminate funds. The corporation shall send a notice of
715
termination of the local government's share of the local housing
716
distribution by certified mail to the affected local government.
717
The notice shall specify the termination date, and any
718
uncommitted funds held by the affected local government shall be
719
transferred to the Local Government Housing Trust Fund to the
720
credit of the corporation to administer pursuant to s. 420.9072
721
s. 420.9078.
722
b. If the corporation terminates funds to a county, but an
723
eligible municipality receiving a local housing distribution
724
pursuant to an interlocal agreement maintains compliance with
725
program requirements, the corporation shall thereafter distribute
726
directly to the participating eligible municipality its share
727
calculated in the manner provided in s. 420.9072.
728
c. Any county or eligible municipality whose local
729
distribution share has been terminated may subsequently elect to
730
receive directly its local distribution share by adopting the
731
ordinance, resolution, and local housing assistance plan in the
732
manner and according to the procedures provided in ss. 420.907-
733
734
(14) If the corporation determines that a county or
735
eligible municipality has expended program funds for an
736
ineligible activity, the corporation shall require such funds to
737
be repaid to the Local Housing Assistance Trust Fund. Such
738
repayment may not be made with funds from the State Housing
739
Initiatives Partnership Program.
740
Section 7. Subsections (2), (5), and (6) and paragraph (a)
741
of subsection (7) of section 420.9076, Florida Statutes, are
742
amended to read:
743
420.9076 Adoption of affordable housing incentive
744
strategies; committees.--
745
(2) The governing board of a county or municipality shall
746
appoint the members of the affordable housing advisory committee
747
by resolution. Pursuant to the terms of any interlocal agreement,
748
a county and municipality may create and jointly appoint an
749
advisory committee to prepare a joint plan. The ordinance adopted
750
pursuant to s. 420.9072 which creates the advisory committee or
751
the resolution appointing the advisory committee members must
752
provide for 11 committee members and their terms. The committee
753
must include:
754
(a) One citizen who is actively engaged in the residential
755
home building industry in connection with affordable housing.
756
(b) One citizen who is actively engaged in the banking or
757
mortgage banking industry in connection with affordable housing.
758
(c) One citizen who is a representative of those areas of
759
labor actively engaged in home building in connection with
760
affordable housing.
761
(d) One citizen who is actively engaged as an advocate for
762
low-income persons in connection with affordable housing.
763
(e) One citizen who is actively engaged as a for-profit
764
provider of affordable housing.
765
(f) One citizen who is actively engaged as a not-for-profit
766
provider of affordable housing.
767
(g) One citizen who is actively engaged as a real estate
768
professional in connection with affordable housing.
769
(h) One citizen who actively serves on the local planning
770
agency pursuant to s. 163.3174. If the local planning agency is
771
comprised of the county or municipality governing body, the
772
governing body may appoint a designee who is knowledgeable in the
773
local planning process.
774
(i) One citizen who resides within the jurisdiction of the
775
local governing body making the appointments.
776
(j) One citizen who represents employers within the
777
jurisdiction.
778
(k) One citizen who represents essential services
779
personnel, as defined in the local housing assistance plan.
780
781
If a county or eligible municipality whether due to its small
782
size, the presence of a conflict of interest by prospective
783
appointees, or other reasonable factor, is unable to appoint a
784
citizen actively engaged in these activities in connection with
785
affordable housing, a citizen engaged in the activity without
786
regard to affordable housing may be appointed. Local governments
787
that receive the minimum allocation under the State Housing
788
Initiatives Partnership Program may elect to appoint an
789
affordable housing advisory committee with fewer than 11
790
representatives if they are unable to find representatives who
791
meet the criteria of paragraphs (a)-(k).
792
(5) The approval by the advisory committee of its local
793
housing incentive strategies recommendations and its review of
794
local government implementation of previously recommended
795
strategies must be made by affirmative vote of a majority of the
796
membership of the advisory committee taken at a public hearing.
797
Notice of the time, date, and place of the public hearing of the
798
advisory committee to adopt its evaluation and final local
799
housing incentive strategies recommendations must be published in
800
a newspaper of general paid circulation in the county. The notice
801
must contain a short and concise summary of the evaluation and
802
local housing incentives strategies recommendations to be
803
considered by the advisory committee. The notice must state the
804
public place where a copy of the evaluation and tentative
805
advisory committee recommendations can be obtained by interested
806
persons. The final report, evaluation, and recommendations shall
807
be submitted to the corporation.
808
(6) Within 90 days after the date of receipt of the
809
evaluation and local housing incentive strategies recommendations
810
from the advisory committee, the governing body of the appointing
811
local government shall adopt an amendment to its local housing
812
assistance plan to incorporate the local housing incentive
813
strategies it will implement within its jurisdiction. The
814
amendment must include, at a minimum, the local housing incentive
816
local government must consider the strategies specified in
817
paragraphs (4)(a)-(k) as recommended by the advisory committee.
818
(7) The governing board of the county or the eligible
819
municipality shall notify the corporation by certified mail of
820
its adoption of an amendment of its local housing assistance plan
821
to incorporate local housing incentive strategies. The notice
822
must include a copy of the approved amended plan.
823
(a) If the corporation fails to receive timely the approved
824
amended local housing assistance plan to incorporate local
825
housing incentive strategies, a notice of termination of its
826
share of the local housing distribution shall be sent by
827
certified mail by the corporation to the affected county or
828
eligible municipality. The notice of termination must specify a
829
date of termination of the funding if the affected county or
830
eligible municipality has not adopted an amended local housing
831
assistance plan to incorporate local housing incentive
832
strategies. If the county or the eligible municipality has not
833
adopted an amended local housing assistance plan to incorporate
834
local housing incentive strategies by the termination date
835
specified in the notice of termination, the local distribution
836
share terminates; and any uncommitted local distribution funds
837
held by the affected county or eligible municipality in its local
838
housing assistance trust fund shall be transferred to the Local
839
Government Housing Trust Fund to the credit of the corporation to
840
administer the local government housing program pursuant to s.
842
Section 8. Subsection (6) of section 421.08, Florida
843
Statutes, is amended to read:
844
421.08 Powers of authority.--An authority shall constitute
845
a public body corporate and politic, exercising the public and
846
essential governmental functions set forth in this chapter, and
847
having all the powers necessary or convenient to carry out and
848
effectuate the purpose and provisions of this chapter, including
849
the following powers in addition to others herein granted:
850
(6) Within its area of operation: to investigate into
851
living, dwelling, and housing conditions and into the means and
852
methods of improving such conditions; to determine where slum
853
areas exist or where there is a shortage of decent, safe, and
854
sanitary dwelling accommodations for persons of low income; to
855
make studies and recommendations relating to the problem of
856
clearing, replanning, and reconstruction of slum areas and the
857
problem of providing dwelling accommodations for persons of low
858
income; to administer fair housing ordinances and other
859
ordinances as adopted by cities, counties, or other authorities
860
who wish to contract for administrative services and to cooperate
861
with the city, the county, the state or any political subdivision
862
thereof in action taken in connection with such problems; and to
863
engage in research, studies, and experimentation on the subject
864
of housing. However, the housing authority may not take action to
865
prohibit access to a housing project by a state or local elected
866
official or a candidate for state or local government office.
867
Section 9. Subsection (4) of section 159.807, Florida
868
Statutes, is amended to read:
869
159.807 State allocation pool.--
870
(4)(a) The state allocation pool shall also be used to
871
provide written confirmations for private activity bonds that are
872
to be issued by state agencies after June 1, which bonds,
873
notwithstanding any other provisions of this part, shall receive
874
priority in the use of the pool available at the time the notice
875
of intent to issue such bonds is filed with the division.
876
(b) This subsection does not apply to the Florida Housing
877
Finance Corporation:
878
1. Until its allocation pursuant to s. 159.804(3) has been
879
exhausted, is unavailable, or is inadequate to provide an
880
allocation pursuant to s. 159.804(3) and any carryforwards of
881
volume limitation from prior years for the same carryforward
882
purpose, as that term is defined in s. 146 of the Code, as the
883
bonds it intends to issue have been completely utilized or have
884
expired.
885
2. Prior to July 1 of any year, when housing bonds for
886
which the Florida Housing Finance Corporation has made an
887
assignment of its allocation permitted by s. 159.804(3)(c) have
888
not been issued.
889
Section 10. Section 420.9078, Florida Statutes, is repealed.
890
Section 11. Paragraph (p) of subsection (5) of section
891
212.08, Florida Statutes, is amended to read:
892
212.08 Sales, rental, use, consumption, distribution, and
893
storage tax; specified exemptions.--The sale at retail, the
894
rental, the use, the consumption, the distribution, and the
895
storage to be used or consumed in this state of the following are
896
hereby specifically exempt from the tax imposed by this chapter.
897
(5) EXEMPTIONS; ACCOUNT OF USE.--
898
(p) Community contribution tax credit for donations.--
899
1. Authorization.--Persons who are registered with the
900
department under s. 212.18 to collect or remit sales or use tax
901
and who make donations to eligible sponsors are eligible for tax
902
credits against their state sales and use tax liabilities as
903
provided in this paragraph:
904
a. The credit shall be computed as 50 percent of the
905
person's approved annual community contribution.
906
b. The credit shall be granted as a refund against state
907
sales and use taxes reported on returns and remitted in the 12
908
months preceding the date of application to the department for
909
the credit as required in sub-subparagraph 3.c. If the annual
910
credit is not fully used through such refund because of
911
insufficient tax payments during the applicable 12-month period,
912
the unused amount may be included in an application for a refund
913
made pursuant to sub-subparagraph 3.c. in subsequent years
914
against the total tax payments made for such year. Carryover
915
credits may be applied for a 3-year period without regard to any
916
time limitation that would otherwise apply under s. 215.26.
917
c. A person may not receive more than $200,000 in annual
918
tax credits for all approved community contributions made in any
919
one year.
920
d. All proposals for the granting of the tax credit require
921
the prior approval of the Office of Tourism, Trade, and Economic
922
Development.
923
e. The total amount of tax credits which may be granted for
924
all programs approved under this paragraph, s. 220.183, and s.
925
624.5105 is $10.5 million annually for projects that provide
926
homeownership opportunities for low-income or very-low-income
928
and (28) and $3.5 million annually for all other projects.
929
f. A person who is eligible to receive the credit provided
931
credit only under the one section of the person's choice.
932
2. Eligibility requirements.--
933
a. A community contribution by a person must be in the
934
following form:
935
(I) Cash or other liquid assets;
936
(II) Real property;
937
(III) Goods or inventory; or
938
(IV) Other physical resources as identified by the Office
939
of Tourism, Trade, and Economic Development.
940
b. All community contributions must be reserved exclusively
941
for use in a project. As used in this sub-subparagraph, the term
942
"project" means any activity undertaken by an eligible sponsor
943
which is designed to construct, improve, or substantially
944
rehabilitate housing that is affordable to low-income or very-
945
low-income households as defined in s. 420.9071(20) and (30) s.
946
420.9071(19) and (28); designed to provide commercial,
947
industrial, or public resources and facilities; or designed to
948
improve entrepreneurial and job-development opportunities for
949
low-income persons. A project may be the investment necessary to
950
increase access to high-speed broadband capability in rural
951
communities with enterprise zones, including projects that result
952
in improvements to communications assets that are owned by a
953
business. A project may include the provision of museum
954
educational programs and materials that are directly related to
955
any project approved between January 1, 1996, and December 31,
956
1999, and located in an enterprise zone designated pursuant to s.
957
290.0065. This paragraph does not preclude projects that propose
958
to construct or rehabilitate housing for low-income or very-low-
959
income households on scattered sites. With respect to housing,
960
contributions may be used to pay the following eligible low-
961
income and very-low-income housing-related activities:
962
(I) Project development impact and management fees for low-
963
income or very-low-income housing projects;
964
(II) Down payment and closing costs for eligible persons,
966
(III) Administrative costs, including housing counseling
967
and marketing fees, not to exceed 10 percent of the community
968
contribution, directly related to low-income or very-low-income
969
projects; and
970
(IV) Removal of liens recorded against residential property
971
by municipal, county, or special district local governments when
972
satisfaction of the lien is a necessary precedent to the transfer
973
of the property to an eligible person, as defined in s.
975
of promoting home ownership. Contributions for lien removal must
976
be received from a nonrelated third party.
977
c. The project must be undertaken by an "eligible sponsor,"
978
which includes:
979
(I) A community action program;
980
(II) A nonprofit community-based development organization
981
whose mission is the provision of housing for low-income or very-
982
low-income households or increasing entrepreneurial and job-
983
development opportunities for low-income persons;
984
(III) A neighborhood housing services corporation;
985
(IV) A local housing authority created under chapter 421;
986
(V) A community redevelopment agency created under s.
987
988
(VI) The Florida Industrial Development Corporation;
989
(VII) A historic preservation district agency or
990
organization;
991
(VIII) A regional workforce board;
992
(IX) A direct-support organization as provided in s.
993
994
(X) An enterprise zone development agency created under s.
995
996
(XI) A community-based organization incorporated under
997
chapter 617 which is recognized as educational, charitable, or
998
scientific pursuant to s. 501(c)(3) of the Internal Revenue Code
999
and whose bylaws and articles of incorporation include affordable
1000
housing, economic development, or community development as the
1001
primary mission of the corporation;
1002
(XII) Units of local government;
1003
(XIII) Units of state government; or
1004
(XIV) Any other agency that the Office of Tourism, Trade,
1005
and Economic Development designates by rule.
1006
1007
In no event may A contributing person may not have a financial
1008
interest in the eligible sponsor.
1009
d. The project must be located in an area designated an
1010
enterprise zone or a Front Porch Florida Community pursuant to s.
1011
20.18(6), unless the project increases access to high-speed
1012
broadband capability for rural communities with enterprise zones
1013
but is physically located outside the designated rural zone
1014
boundaries. Any project designed to construct or rehabilitate
1015
housing for low-income or very-low-income households as defined
1017
from the area requirement of this sub-subparagraph.
1018
e.(I) If, during the first 10 business days of the state
1019
fiscal year, eligible tax credit applications for projects that
1020
provide homeownership opportunities for low-income or very-low-
1021
income households as defined in s. 420.9071(20) and (30) s.
1022
420.9071(19) and (28) are received for less than the annual tax
1023
credits available for those projects, the Office of Tourism,
1024
Trade, and Economic Development shall grant tax credits for those
1025
applications and shall grant remaining tax credits on a first-
1026
come, first-served basis for any subsequent eligible applications
1027
received before the end of the state fiscal year. If, during the
1028
first 10 business days of the state fiscal year, eligible tax
1029
credit applications for projects that provide homeownership
1030
opportunities for low-income or very-low-income households as
1032
received for more than the annual tax credits available for those
1033
projects, the office shall grant the tax credits for those
1034
applications as follows:
1035
(A) If tax credit applications submitted for approved
1036
projects of an eligible sponsor do not exceed $200,000 in total,
1037
the credits shall be granted in full if the tax credit
1038
applications are approved.
1039
(B) If tax credit applications submitted for approved
1040
projects of an eligible sponsor exceed $200,000 in total, the
1041
amount of tax credits granted pursuant to sub-sub-sub-
1042
subparagraph (A) shall be subtracted from the amount of available
1043
tax credits, and the remaining credits shall be granted to each
1044
approved tax credit application on a pro rata basis.
1045
(II) If, during the first 10 business days of the state
1046
fiscal year, eligible tax credit applications for projects other
1047
than those that provide homeownership opportunities for low-
1048
income or very-low-income households as defined in s.
1050
less than the annual tax credits available for those projects,
1051
the office shall grant tax credits for those applications and
1052
shall grant remaining tax credits on a first-come, first-served
1053
basis for any subsequent eligible applications received before
1054
the end of the state fiscal year. If, during the first 10
1055
business days of the state fiscal year, eligible tax credit
1056
applications for projects other than those that provide
1057
homeownership opportunities for low-income or very-low-income
1059
and (28) are received for more than the annual tax credits
1060
available for those projects, the office shall grant the tax
1061
credits for those applications on a pro rata basis.
1062
3. Application requirements.--
1063
a. Any eligible sponsor seeking to participate in this
1064
program must submit a proposal to the Office of Tourism, Trade,
1065
and Economic Development which sets forth the name of the
1066
sponsor, a description of the project, and the area in which the
1067
project is located, together with such supporting information as
1068
is prescribed by rule. The proposal must also contain a
1069
resolution from the local governmental unit in which the project
1070
is located certifying that the project is consistent with local
1071
plans and regulations.
1072
b. Any person seeking to participate in this program must
1073
submit an application for tax credit to the office which sets
1074
forth the name of the sponsor, a description of the project, and
1075
the type, value, and purpose of the contribution. The sponsor
1076
shall verify the terms of the application and indicate its
1077
receipt of the contribution, which verification must be in
1078
writing and accompany the application for tax credit. The person
1079
must submit a separate tax credit application to the office for
1080
each individual contribution that it makes to each individual
1081
project.
1082
c. Any person who has received notification from the office
1083
that a tax credit has been approved must apply to the department
1084
to receive the refund. Application must be made on the form
1085
prescribed for claiming refunds of sales and use taxes and be
1086
accompanied by a copy of the notification. A person may submit
1087
only one application for refund to the department within any 12-
1088
month period.
1089
4. Administration.--
1090
a. The Office of Tourism, Trade, and Economic Development
1092
to administer this paragraph, including rules for the approval or
1093
disapproval of proposals by a person.
1094
b. The decision of the office must be in writing, and, if
1095
approved, the notification shall state the maximum credit
1096
allowable to the person. Upon approval, the office shall transmit
1097
a copy of the decision to the Department of Revenue.
1098
c. The office shall periodically monitor all projects in a
1099
manner consistent with available resources to ensure that
1100
resources are used in accordance with this paragraph; however,
1101
each project must be reviewed at least once every 2 years.
1102
d. The office shall, in consultation with the Department of
1103
Community Affairs and the statewide and regional housing and
1104
financial intermediaries, market the availability of the
1105
community contribution tax credit program to community-based
1106
organizations.
1107
5. Expiration.--This paragraph expires June 30, 2015;
1108
however, any accrued credit carryover that is unused on that date
1109
may be used until the expiration of the 3-year carryover period
1110
for such credit.
1111
Section 12. Paragraph (t) of subsection (1) of section
1112
220.03, Florida Statutes, is amended to read:
1113
220.03 Definitions.--
1114
(1) SPECIFIC TERMS.--When used in this code, and when not
1115
otherwise distinctly expressed or manifestly incompatible with
1116
the intent thereof, the following terms shall have the following
1117
meanings:
1118
(t) "Project" means any activity undertaken by an eligible
1119
sponsor, as defined in s. 220.183(2)(c), which is designed to
1120
construct, improve, or substantially rehabilitate housing that is
1121
affordable to low-income or very-low-income households as defined
1123
provide commercial, industrial, or public resources and
1124
facilities; or designed to improve entrepreneurial and job-
1125
development opportunities for low-income persons. A project may
1126
be the investment necessary to increase access to high-speed
1127
broadband capability in rural communities with enterprise zones,
1128
including projects that result in improvements to communications
1129
assets that are owned by a business. A project may include the
1130
provision of museum educational programs and materials that are
1131
directly related to any project approved between January 1, 1996,
1132
and December 31, 1999, and located in an enterprise zone
1133
designated pursuant to s. 290.0065. This paragraph does not
1134
preclude projects that propose to construct or rehabilitate low-
1135
income or very-low-income housing on scattered sites. With
1136
respect to housing, contributions may be used to pay the
1137
following eligible project-related activities:
1138
1. Project development, impact, and management fees for
1139
low-income or very-low-income housing projects;
1140
2. Down payment and closing costs for eligible persons, as
1142
3. Administrative costs, including housing counseling and
1143
marketing fees, not to exceed 10 percent of the community
1144
contribution, directly related to low-income or very-low-income
1145
projects; and
1146
4. Removal of liens recorded against residential property
1147
by municipal, county, or special-district local governments when
1148
satisfaction of the lien is a necessary precedent to the transfer
1149
of the property to an eligible person, as defined in s.
1151
of promoting home ownership. Contributions for lien removal must
1152
be received from a nonrelated third party.
1153
1154
The provisions of this paragraph shall expire and be void on June
1155
30, 2015.
1156
Section 13. Paragraph (c) of subsection (1) and paragraphs
1157
(b) and (d) of subsection (2) of section 220.183, Florida
1158
Statutes, are amended to read:
1159
220.183 Community contribution tax credit.--
1160
(1) AUTHORIZATION TO GRANT COMMUNITY CONTRIBUTION TAX
1161
CREDITS; LIMITATIONS ON INDIVIDUAL CREDITS AND PROGRAM
1162
SPENDING.--
1163
(c) The total amount of tax credit which may be granted for
1164
all programs approved under this section, s. 212.08(5)(p), and s.
1165
624.5105 is $10.5 million annually for projects that provide
1166
homeownership opportunities for low-income or very-low-income
1168
and (28) and $3.5 million annually for all other projects.
1169
(2) ELIGIBILITY REQUIREMENTS.--
1170
(b)1. All community contributions must be reserved
1171
exclusively for use in projects as defined in s. 220.03(1)(t).
1172
2. If, during the first 10 business days of the state
1173
fiscal year, eligible tax credit applications for projects that
1174
provide homeownership opportunities for low-income or very-low-
1175
income households as defined in s. 420.9071(20) and (30) s.
1176
420.9071(19) and (28) are received for less than the annual tax
1177
credits available for those projects, the Office of Tourism,
1178
Trade, and Economic Development shall grant tax credits for those
1179
applications and shall grant remaining tax credits on a first-
1180
come, first-served basis for any subsequent eligible applications
1181
received before the end of the state fiscal year. If, during the
1182
first 10 business days of the state fiscal year, eligible tax
1183
credit applications for projects that provide homeownership
1184
opportunities for low-income or very-low-income households as
1186
received for more than the annual tax credits available for those
1187
projects, the office shall grant the tax credits for those
1188
applications as follows:
1189
a. If tax credit applications submitted for approved
1190
projects of an eligible sponsor do not exceed $200,000 in total,
1191
the credit shall be granted in full if the tax credit
1192
applications are approved.
1193
b. If tax credit applications submitted for approved
1194
projects of an eligible sponsor exceed $200,000 in total, the
1195
amount of tax credits granted under sub-subparagraph a. shall be
1196
subtracted from the amount of available tax credits, and the
1197
remaining credits shall be granted to each approved tax credit
1198
application on a pro rata basis.
1199
3. If, during the first 10 business days of the state
1200
fiscal year, eligible tax credit applications for projects other
1201
than those that provide homeownership opportunities for low-
1202
income or very-low-income households as defined in s.
1204
less than the annual tax credits available for those projects,
1205
the office shall grant tax credits for those applications and
1206
shall grant remaining tax credits on a first-come, first-served
1207
basis for any subsequent eligible applications received before
1208
the end of the state fiscal year. If, during the first 10
1209
business days of the state fiscal year, eligible tax credit
1210
applications for projects other than those that provide
1211
homeownership opportunities for low-income or very-low-income
1213
and (28) are received for more than the annual tax credits
1214
available for those projects, the office shall grant the tax
1215
credits for those applications on a pro rata basis.
1216
(d) The project shall be located in an area designated as
1217
an enterprise zone or a Front Porch Florida Community pursuant to
1218
s. 20.18(6). Any project designed to construct or rehabilitate
1219
housing for low-income or very-low-income households as defined
1221
from the area requirement of this paragraph. This section does
1222
not preclude projects that propose to construct or rehabilitate
1223
housing for low-income or very-low-income households on scattered
1224
sites. Any project designed to provide increased access to high-
1225
speed broadband capabilities which includes coverage of a rural
1226
enterprise zone may locate the project's infrastructure in any
1227
area of a rural county.
1228
Section 14. Paragraph (c) of subsection (1) and paragraphs
1229
(d) and (e) of subsection (2) of section 624.5105, Florida
1230
Statutes, are amended to read:
1231
624.5105 Community contribution tax credit; authorization;
1232
limitations; eligibility and application requirements;
1233
administration; definitions; expiration.--
1234
(1) AUTHORIZATION TO GRANT TAX CREDITS; LIMITATIONS.--
1235
(c) The total amount of tax credit which may be granted for
1236
all programs approved under this section and ss. 212.08(5)(p) and
1237
220.183 is $10.5 million annually for projects that provide
1238
homeownership opportunities for low-income or very-low-income
1240
and (28) and $3.5 million annually for all other projects.
1241
(2) ELIGIBILITY REQUIREMENTS.--
1242
(d) The project shall be located in an area designated as
1243
an enterprise zone or a Front Porch Community pursuant to s.
1244
20.18(6). Any project designed to construct or rehabilitate
1245
housing for low-income or very-low-income households as defined
1247
from the area requirement of this paragraph.
1248
(e)1. If, during the first 10 business days of the state
1249
fiscal year, eligible tax credit applications for projects that
1250
provide homeownership opportunities for low-income or very-low-
1251
income households as defined in s. 420.9071(20) and (30) s.
1252
420.9071(19) and (28) are received for less than the annual tax
1253
credits available for those projects, the Office of Tourism,
1254
Trade, and Economic Development shall grant tax credits for those
1255
applications and shall grant remaining tax credits on a first-
1256
come, first-served basis for any subsequent eligible applications
1257
received before the end of the state fiscal year. If, during the
1258
first 10 business days of the state fiscal year, eligible tax
1259
credit applications for projects that provide homeownership
1260
opportunities for low-income or very-low-income households as
1262
received for more than the annual tax credits available for those
1263
projects, the office shall grant the tax credits for those
1264
applications as follows:
1265
a. If tax credit applications submitted for approved
1266
projects of an eligible sponsor do not exceed $200,000 in total,
1267
the credits shall be granted in full if the tax credit
1268
applications are approved.
1269
b. If tax credit applications submitted for approved
1270
projects of an eligible sponsor exceed $200,000 in total, the
1271
amount of tax credits granted under sub-subparagraph a. shall be
1272
subtracted from the amount of available tax credits, and the
1273
remaining credits shall be granted to each approved tax credit
1274
application on a pro rata basis.
1275
2. If, during the first 10 business days of the state
1276
fiscal year, eligible tax credit applications for projects other
1277
than those that provide homeownership opportunities for low-
1278
income or very-low-income households as defined in s.
1280
less than the annual tax credits available for those projects,
1281
the office shall grant tax credits for those applications and
1282
shall grant remaining tax credits on a first-come, first-served
1283
basis for any subsequent eligible applications received before
1284
the end of the state fiscal year. If, during the first 10
1285
business days of the state fiscal year, eligible tax credit
1286
applications for projects other than those that provide
1287
homeownership opportunities for low-income or very-low-income
1289
and (28) are received for more than the annual tax credits
1290
available for those projects, the office shall grant the tax
1291
credits for those applications on a pro rata basis.
1292
Section 15. This act shall take effect July 1, 2008.
CODING: Words stricken are deletions; words underlined are additions.