CS for CS for SB 482 First Engrossed
2008482e1
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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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193.018, F.S.; providing for the assessment of property
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receiving the low-income housing tax credit; defining the
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term "community land trust"; providing for the assessment
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of structural improvements, condominium parcels, and
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cooperative parcels on land owned by a community land
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trust and used to provide affordable housing; providing
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for the conveyance of structural improvements, condominium
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parcels, and cooperative parcels subject to certain
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conditions; specifying the criteria to be used in arriving
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at just valuation of a structural improvement, condominium
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parcel, or cooperative parcel; amending s. 212.055, F.S.;
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redefining the term "infrastructure" to allow the proceeds
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of a local government infrastructure surtax to be used to
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purchase land for the construction of affordable or
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workforce housing units; amending s. 420.503, F.S.;
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defining the term "moderate rehabilitation" for purposes
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of the Florida Housing Finance Corporation Act; amending
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s. 420.5087, F.S.; revising purposes for which State
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Apartment Incentive Loans may be used; amending s.
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420.5095, F.S.; requiring that certain funds related to
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the Community Workforce Housing Innovation Pilot Program
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be made available for workforce housing for teachers and
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instructional personnel; requiring that the Florida
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Housing Finance Corporation select projects for funding
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based on certain criteria; amending s. 420.9071, F.S.;
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defining the terms "assisted housing," "assisted housing
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development," and "preservation"; revising the definition
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of "eligible housing," "local housing incentive
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strategies," and "recaptured funds" for purposes of the
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State Housing Initiatives Partnership Act; amending s.
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420.9072, F.S.; revising provisions related to the
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administration of certain funds in the Local Government
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Housing Trust Fund; amending s. 420.9073, F.S.; revising
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requirements for distribution of funds in the Local
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Government Housing Trust Fund; specifying purposes for
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which such withheld funds may be used; clarifying purposes
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for which certain local governments may expend funds from
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the Local Government Housing Trust Fund; amending s.
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420.9075, F.S.; requiring that local housing assistance
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plans address the special housing needs of persons with
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disabilities; authorizing the Florida Housing Finance
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Corporation to define "high-cost counties" by rule;
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authorizing high-cost counties or eligible municipalities
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within high-cost counties to assist persons meeting
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specific income requirements; revising requirements to be
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included in the local housing assistance plan; requiring
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counties and certain municipalities to include certain
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strategies in the local housing assistance plan; revising
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criteria that applies to awards made for the purpose of
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providing affordable housing; authorizing and limiting the
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percentage of funds from the local housing distribution
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that may be used for certain manufactured housing;
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extending the expiration date of an exemption from certain
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income requirements in specified areas; authorizing the
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use of certain funds for preconstruction activities;
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providing that certain costs are a program expense;
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authorizing counties and certain municipalities to award
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grant funds under certain conditions; providing for the
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repayment of funds by counties or certain municipalities;
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amending 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. 420.9076, F.S.; revising appointments to a
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local affordable housing advisory committee; deleting
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cross-references to conform to changes made by the act;
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deleting provisions related to the administration of
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certain funds by the Local Government Housing Trust Fund;
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amending s. 420.9079, F.S.; conforming cross-references;
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amending s. 421.08, F.S.; limiting the authority of
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housing authorities in certain circumstances; amending s.
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1001.43, F.S.; revising district school board powers and
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duties in relation to use of land for affordable housing
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in certain areas for certain personnel; amending s.
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159.807, F.S.; revising an exemption for the Florida
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Housing Finance Corporation from the applicability of
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certain uses of the state allocation pool; repealing s.
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420.9078, F.S., relating to state administration of funds
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remaining in the Local Government Housing Trust Fund;
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cross-references to changes made by the act; amending s.
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624.5105, F.S.; conforming cross-references to changes
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made by the act; providing an effective date.
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Be It Enacted by the Legislature of the State of Florida:
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Section 1. Section 193.018, Florida Statutes, is created to
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read:
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193.018 Land owned by a community land trust used to
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provide affordable housing.--
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(1) As used in this section, the term "community land
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trust" means a nonprofit entity that is qualified as charitable
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under s. 501(c)(3) of the Internal Revenue Code and has as one of
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its purposes the acquisition of land to be held in perpetuity for
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the primary purpose of providing affordable homeownership.
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(2) A community land trust may convey structural
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improvements, condominium parcels, or cooperative parcels,
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located on specific parcels of land which are identified by a
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legal description contained in and subject to a ground lease
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having a term of at least 99 years, for the purpose of providing
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affordable housing to natural persons or families who meet the
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extremely low, very-low, low, or moderate income limits specified
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in s. 420.0004, or the income limits for workforce housing as
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specified in s. 420.5095(3). A community land trust shall retain
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a preemptive option to purchase any structural improvements,
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condominium parcels, or cooperative parcels on the land at a
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price determined by a formula specified in the ground lease
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designed to ensure that such structural improvements, condominium
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parcels, or cooperative parcels remain affordable.
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(3) In arriving at just valuation under s. 193.011, a
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structural improvement, condominium parcel, or cooperative parcel
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providing affordable housing on land owned by a community land
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trust, and the land owned by a community land trust that is
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subject to a 99-year or longer ground lease, shall be assessed
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using the following criteria:
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(a) The amount a willing purchaser would pay a willing
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seller for the land is limited to an amount commensurate with the
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terms of the ground lease which restricts the use of the land to
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the provision of affordable housing in perpetuity.
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(b) The amount a willing purchaser would pay a willing
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seller for the resale-restricted improvements, condominium
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parcel, or cooperative parcel is limited to the amount determined
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by the formula in the ground lease.
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(c) If the ground lease and all amendments and supplements
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thereto, or a memorandum documenting how such lease and
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amendments or supplements restrict the price at which the
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improvements, condominium parcel, or cooperative parcel may be
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sold, is recorded in the official public records of the county in
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which the leased land is located, the recorded lease and any
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amendments or supplements, or the recorded memorandum, shall be
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deemed a land use regulation during the term of the lease as
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amended or supplemented.
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Section 2. Subsection (5) is added to section 196.196,
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Florida Statutes, to read:
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196.196 Determining whether property is entitled to
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charitable, religious, scientific, or literary exemption.--
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(5) Property owned by an exempt organization qualified as
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charitable under s. 501(c)(3) of the Internal Revenue Code is
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used for a charitable purpose if the organization has taken
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affirmative steps to prepare the property to provide affordable
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housing to persons or families that meet the extremely-low-
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income, very-low-income, low-income, or moderate-income limits
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specified in s. 420.0004. For purposes of this subsection, the
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term "affirmative steps" means environmental or land use
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permitting activities, the creation of architectural plans or
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schematic drawings, land clearing or site preparation,
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construction or renovation activities, or other similar
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activities that demonstrate a commitment by the exempt entity to
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use of the property to provide affordable housing.
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Section 3. Section 196.1978, Florida Statutes, is amended
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to read:
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196.1978 Affordable housing property exemption.--
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(1) Property used to provide affordable housing serving
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eligible persons as defined by s. 159.603(7) and natural persons
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or families meeting the extremely-low-income, very-low-income,
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low-income, or moderate-income persons meeting income limits
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which property is owned entirely by a nonprofit entity that is a
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corporation not for profit, qualified as charitable under s.
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501(c)(3) of the Internal Revenue Code, and in compliance with
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Rev. Proc. 96-32, 1996-1 C.B. 717, or a Florida-based limited
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partnership, the sole general partner of which is a corporation
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not for profit which is qualified as charitable under s.
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501(c)(3) of the Internal Revenue Code and which complies with
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Rev. Proc. 96-32, 1996-1 C.B. 717, shall be considered property
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owned by an exempt entity and used for a charitable purpose, and
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those portions of the affordable housing property which provide
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housing to natural persons or families classified as extremely-
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low income, very-low income, low-income, or moderate-income under
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s. 420.0004 individuals with incomes as defined in s.
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420.0004(10) and (15) shall be exempt from ad valorem taxation to
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the extent authorized in s. 196.196. All property identified in
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this section shall comply with the criteria for determination of
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exempt status to be applied by property appraisers on an annual
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basis as defined in s. 196.195. The Legislature intends that any
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property owned by a limited liability company or limited
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partnership which is disregarded as an entity for federal income
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tax purposes pursuant to Treasury Regulation 301.7701-3(b)(1)(ii)
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shall be treated as owned by its sole member or sole general
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partner.
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(2) If property owned by an organization granted an
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exemption under s. 196.196(5) is transferred for a purpose other
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than directly providing affordable housing to persons or families
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who meet the extremely-low-income, very-low-income, low-income,
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or moderate-income limits, as specified in s. 420.0004, or is not
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actually used to provide affordable housing within 5 years after
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the date the organization is initially granted the exemption, the
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property appraiser making the determination shall serve upon the
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organization that illegally or improperly received the exemption
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a notice of intent to record in the public records of the county
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where the property is located a notice of tax lien against any
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property owned by that organization in the county, and such
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property shall be identified in the notice of tax lien. The
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organization owning such property is subject to the taxes
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otherwise due and owing as a result of the failure to use the
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property to provide affordable housing plus 15 percent interest
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per annum and a penalty of 50 percent of the taxes owed. The tax
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lien, when filed, attaches to any property identified in the
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notice of tax lien owned by the organization that illegally or
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improperly received the exemption. If the organization no longer
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owns property in the county but owns property in any other county
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in the state, the property appraiser shall record in each other
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county a notice of tax lien identifying the property owned by
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such organization in the county which shall become a tax lien
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against the identified property. If an exemption is improperly
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granted as a result of a clerical mistake or an omission by the
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property appraiser, the organization improperly receiving the
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exemption may not be assessed penalty and interest. Prior to the
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filing of a tax lien, the organization that received the written
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notice of intent must be given 30 days to pay the taxes,
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penalties, and interest. The 5-year limitation specified in this
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subsection may be extended provided the holder of the exemption
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continues to take affirmative steps to develop the property for
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the purposes specified in s. 196.196(5).
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Section 4. Paragraph (d) of subsection (2) of section
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212.055, Florida Statutes, is amended to read:
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212.055 Discretionary sales surtaxes; legislative intent;
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authorization and use of proceeds.--It is the legislative intent
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that any authorization for imposition of a discretionary sales
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surtax shall be published in the Florida Statutes as a subsection
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of this section, irrespective of the duration of the levy. Each
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enactment shall specify the types of counties authorized to levy;
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the rate or rates which may be imposed; the maximum length of
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time the surtax may be imposed, if any; the procedure which must
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be followed to secure voter approval, if required; the purpose
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for which the proceeds may be expended; and such other
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requirements as the Legislature may provide. Taxable transactions
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and administrative procedures shall be as provided in s. 212.054.
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(2) LOCAL GOVERNMENT INFRASTRUCTURE SURTAX.--
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(d)1. The proceeds of the surtax authorized by this
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subsection and any accrued interest accrued thereto shall be
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expended by the school district, or within the county and
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municipalities within the county, or, in the case of a negotiated
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joint county agreement, within another county, to finance, plan,
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and construct infrastructure; and to acquire land for public
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recreation, or conservation, or protection of natural resources;
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or and to finance the closure of county-owned or municipally
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owned solid waste landfills that have been are already closed or
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are required to be closed close by order of the Department of
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Environmental Protection. Any use of the such proceeds or
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interest for purposes of landfill closure before prior to July 1,
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1993, is ratified. Neither The proceeds and nor any interest may
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not accrued thereto shall be used for the operational expenses of
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any infrastructure, except that a any county that has with a
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population of fewer less than 75,000 and that is required to
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close a landfill by order of the Department of Environmental
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Protection may use the proceeds or any interest accrued thereto
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for long-term maintenance costs associated with landfill closure.
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counties may, in addition, use the proceeds or and any interest
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accrued thereto to retire or service indebtedness incurred for
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bonds issued before prior to July 1, 1987, for infrastructure
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purposes, and for bonds subsequently issued to refund such bonds.
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Any use of the such proceeds or interest for purposes of retiring
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or servicing indebtedness incurred for such refunding bonds
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before prior to July 1, 1999, is ratified.
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1.2. For the purposes of this paragraph, the term
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"infrastructure" means:
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a. Any fixed capital expenditure or fixed capital outlay
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associated with the construction, reconstruction, or improvement
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of public facilities that have a life expectancy of 5 or more
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years and any related land acquisition, land improvement, design,
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and engineering costs related thereto.
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b. A fire department vehicle, an emergency medical service
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vehicle, a sheriff's office vehicle, a police department vehicle,
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or any other vehicle, and the such equipment necessary to outfit
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the vehicle for its official use or equipment that has a life
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expectancy of at least 5 years.
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c. Any expenditure for the construction, lease, or
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maintenance of, or provision of utilities or security for,
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facilities, as defined in s. 29.008.
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d. Any fixed capital expenditure or fixed capital outlay
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associated with the improvement of private facilities that have a
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life expectancy of 5 or more years and that the owner agrees to
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make available for use on a temporary basis as needed by a local
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government as a public emergency shelter or a staging area for
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emergency response equipment during an emergency officially
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declared by the state or by the local government under s. 252.38.
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Such improvements under this sub-subparagraph are limited to
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those necessary to comply with current standards for public
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emergency evacuation shelters. The owner must shall enter into a
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written contract with the local government providing the
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improvement funding to make the such private facility available
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to the public for purposes of emergency shelter at no cost to the
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local government for a minimum period of 10 years after
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completion of the improvement, with the provision that the such
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obligation will transfer to any subsequent owner until the end of
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the minimum period.
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e. Any land acquisition expenditure for a residential
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housing project in which at least 30 percent of the units are
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affordable to individuals or families whose total annual
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household income does not exceed 120 percent of the area median
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income adjusted for household size, if the land is owned by a
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local government or by a special district that enters into a
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written agreement with the local government to provide such
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housing. The local government or special district may enter into
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a ground lease with a public or private person or entity for
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nominal or other consideration for the construction of the
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residential housing project on land acquired pursuant to this
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sub-subparagraph.
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2.3. Notwithstanding any other provision of this
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subsection, a local government infrastructure discretionary sales
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surtax imposed or extended after July 1, 1998, the effective date
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of this act may allocate up to provide for an amount not to
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exceed 15 percent of the local option sales surtax proceeds to be
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allocated for deposit in to a trust fund within the county's
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accounts created for the purpose of funding economic development
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projects having of a general public purpose of improving targeted
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to improve local economies, including the funding of operational
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costs and incentives related to such economic development. The
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ballot statement must indicate the intention to make an
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allocation under the authority of this subparagraph.
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Section 5. 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 unit but not
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less than $10,000.
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Section 6. 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 that which creates or preserves affordable, safe,
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and sanitary housing units.
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Section 7. Subsection (17) is added to section 420.5095,
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Florida Statutes, to read:
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420.5095 Community Workforce Housing Innovation Pilot
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Program.--
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(17) Funds appropriated by s. 33, chapter 2006-69, Laws of
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Florida, which were awarded but have been declined or returned,
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shall be made available for projects that otherwise comply with
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this section and are created to provide workforce housing for
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teachers and instructional personnel employed by the school
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district in the county in which the project is located.
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(a) Projects shall be given priority for funding if:
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1. The school district provides the property for the
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project pursuant to s. 1001.43;
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2. The public-private partnership includes the school
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district and a national nonprofit organization to provide
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financial support, technical assistance, and training for
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community-based revitalization efforts; or
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3. The project is located in a county in which a project
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selected for funding under this section did not go forward.
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(b) Projects shall be selected for funding by requests for
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proposals.
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Section 8. 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
503
of professional services relating to affordable housing. The term
504
includes initiatives to provide support services for housing
505
program beneficiaries such as training to prepare persons for the
506
responsibility of homeownership, counseling of tenants, and the
507
establishing of support services such as day care, health care,
508
and transportation.
509
(20)(19) "Low-income person" or "low-income household"
510
means one or more natural persons or a family that has a total
511
annual gross household income that does not exceed 80 percent of
512
the median annual income adjusted for family size for households
513
within the metropolitan statistical area, the county, or the
514
nonmetropolitan median for the state, whichever amount is
515
greatest. With respect to rental units, the low-income
516
household's annual income at the time of initial occupancy may
517
not exceed 80 percent of the area's median income adjusted for
518
family size. While occupying the rental unit, a low-income
519
household's annual income may increase to an amount not to exceed
520
140 percent of 80 percent of the area's median income adjusted
521
for family size.
522
(21)(20) "Moderate-income person" or "moderate-income
523
household" means one or more natural persons or a family that has
524
a total annual gross household income that does not exceed 120
525
percent of the median annual income adjusted for family size for
526
households within the metropolitan statistical area, the county,
527
or the nonmetropolitan median for the state, whichever is
528
greatest. With respect to rental units, the moderate-income
529
household's annual income at the time of initial occupancy may
530
not exceed 120 percent of the area's median income adjusted for
531
family size. While occupying the rental unit, a moderate-income
532
household's annual income may increase to an amount not to exceed
533
140 percent of 120 percent of the area's median income adjusted
534
for family size.
535
(22)(21) "Personal property" means major appliances,
536
including a freestanding refrigerator or stove, to be identified
537
on the encumbering documents.
538
(23)(22) "Plan amendment" means the addition or deletion of
539
a local housing assistance strategy or local housing incentive
540
strategy. Plan amendments must at all times maintain consistency
541
with program requirements and must be submitted to the
542
corporation for review pursuant to s. 420.9072(3). Technical or
543
clarifying revisions may not be considered plan amendments but
544
must be transmitted to the corporation for purposes of
545
notification.
546
(24) "Preservation" means efforts taken to keep rents in
547
existing assisted housing or existing assisted housing
548
developments affordable for extremely low, very-low, low, and
549
moderate-income households while ensuring that such property
550
stays in good physical and financial condition for an extended
551
period.
552
(25)(23) "Population" means the latest official state
553
estimate of population certified pursuant to s. 186.901 prior to
554
the beginning of the state fiscal year.
555
(26)(24) "Program income" means the proceeds derived from
556
interest earned on or investment of the local housing
557
distribution and other funds deposited into the local housing
558
assistance trust fund, proceeds from loan repayments, recycled
559
funds, and all other income derived from use of funds deposited
560
in the local housing assistance trust fund. It does not include
561
recaptured funds as defined in subsection (27) (25).
562
(27)(25) "Recaptured funds" means funds that are recouped
563
by a county or eligible municipality in accordance with the
564
recapture provisions of its local housing assistance plan
566
persons or eligible sponsors where the funds were not used for
567
assistance to an eligible household for an eligible activity, or
568
where there is a who default on the terms of a grant award or
569
loan award.
570
(28)(26) "Rent subsidies" means ongoing monthly rental
571
assistance. The term does not include initial assistance to
572
tenants, such as grants or loans for security and utility
573
deposits.
574
(29)(27) "Sales price" or "value" means, in the case of
575
acquisition of an existing or newly constructed unit, the amount
576
on the executed sales contract. For eligible persons who are
577
building a unit on land that they own, the sales price is
578
determined by an appraisal performed by a state-certified
579
appraiser. The appraisal must include the value of the land and
580
the improvements using the after-construction value of the
581
property and must be dated within 12 months of the date
582
construction is to commence. The sales price of any unit must
583
include the value of the land in order to qualify as eligible
584
housing as defined in subsection (9) (8). In the case of
585
rehabilitation or emergency repair of an existing unit that does
586
not create additional living space, sales price or value means
587
the value of the real property, as determined by an appraisal
588
performed by a state-certified appraiser and dated within 12
589
months of the date construction is to commence or the assessed
590
value of the real property as determined by the county property
591
appraiser. In the case of rehabilitation of an existing unit that
592
includes the addition of new living space, sales price or value
593
means the value of the real property, as determined by an
594
appraisal performed by a state-certified appraiser and dated
595
within 12 months of the date construction is to commence or the
596
assessed value of the real property as determined by the county
597
property appraiser, plus the cost of the improvements in either
598
case.
599
(30)(28) "Very-low-income person" or "very-low-income
600
household" means one or more natural persons or a family that has
601
a total annual gross household income that does not exceed 50
602
percent of the median annual income adjusted for family size for
603
households within the metropolitan statistical area, the county,
604
or the nonmetropolitan median for the state, whichever is
605
greatest. With respect to rental units, the very-low-income
606
household's annual income at the time of initial occupancy may
607
not exceed 50 percent of the area's median income adjusted for
608
family size. While occupying the rental unit, a very-low-income
609
household's annual income may increase to an amount not to exceed
610
140 percent of 50 percent of the area's median income adjusted
611
for family size.
612
Section 9. Subsection (6) of section 420.9072, Florida
613
Statutes, is amended to read:
614
420.9072 State Housing Initiatives Partnership
615
Program.--The State Housing Initiatives Partnership Program is
616
created for the purpose of providing funds to counties and
617
eligible municipalities as an incentive for the creation of local
618
housing partnerships, to expand production of and preserve
619
affordable housing, to further the housing element of the local
620
government comprehensive plan specific to affordable housing, and
621
to increase housing-related employment.
622
(6) The moneys that otherwise would be distributed pursuant
623
to s. 420.9073 to a local government that does not meet the
624
program's requirements for receipts of such distributions shall
625
remain in the Local Government Housing Trust Fund to be
626
administered by the corporation pursuant to s. 420.9078.
627
Section 10. Subsections (1), (2), and (3) of section
628
420.9073, Florida Statutes, are amended, and subsections (5),
629
(6), and (7) are added to that section, to read:
630
420.9073 Local housing distributions.--
631
(1) Subject to the availability of funds, distributions
632
calculated in this subsection section shall be disbursed on a
633
quarterly or more frequent monthly basis by the corporation
634
beginning the first day of the month after program approval
635
pursuant to s. 420.9072. Each county's share of the funds to be
636
distributed from the portion of the funds in the Local Government
637
Housing Trust Fund received pursuant to s. 201.15(9) shall be
638
calculated by the corporation for each fiscal year as follows:
639
(a) Each county other than a county that has implemented
640
the provisions of chapter 83-220, Laws of Florida, as amended by
641
chapters 84-270, 86-152, and 89-252, Laws of Florida, shall
642
receive the guaranteed amount for each fiscal year.
643
(b) Each county other than a county that has implemented
644
the provisions of chapter 83-220, Laws of Florida, as amended by
645
chapters 84-270, 86-152, and 89-252, Laws of Florida, may receive
646
an additional share calculated as follows:
647
1. Multiply each county's percentage of the total state
648
population excluding the population of any county that has
649
implemented the provisions of chapter 83-220, Laws of Florida, as
650
amended by chapters 84-270, 86-152, and 89-252, Laws of Florida,
651
by the total funds to be distributed.
652
2. If the result in subparagraph 1. is less than the
653
guaranteed amount as determined in subsection (3), that county's
654
additional share shall be zero.
655
3. For each county in which the result in subparagraph 1.
656
is greater than the guaranteed amount as determined in subsection
657
(3), the amount calculated in subparagraph 1. shall be reduced by
658
the guaranteed amount. The result for each such county shall be
659
expressed as a percentage of the amounts so determined for all
660
counties. Each such county shall receive an additional share
661
equal to such percentage multiplied by the total funds received
662
by the Local Government Housing Trust Fund pursuant to s.
663
201.15(9) reduced by the guaranteed amount paid to all counties.
664
(2) Subject to the availability of funds Effective July 1,
665
1995, distributions calculated in this subsection section shall
666
be disbursed on a quarterly or more frequent monthly basis by the
667
corporation beginning the first day of the month after program
668
approval pursuant to s. 420.9072. Each county's share of the
669
funds to be distributed from the portion of the funds in the
670
Local Government Housing Trust Fund received pursuant to s.
671
201.15(10) shall be calculated by the corporation for each fiscal
672
year as follows:
673
(a) Each county shall receive the guaranteed amount for
674
each fiscal year.
675
(b) Each county may receive an additional share calculated
676
as follows:
677
1. Multiply each county's percentage of the total state
678
population, by the total funds to be distributed.
679
2. If the result in subparagraph 1. is less than the
680
guaranteed amount as determined in subsection (3), that county's
681
additional share shall be zero.
682
3. For each county in which the result in subparagraph 1.
683
is greater than the guaranteed amount, the amount calculated in
684
subparagraph 1. shall be reduced by the guaranteed amount. The
685
result for each such county shall be expressed as a percentage of
686
the amounts so determined for all counties. Each such county
687
shall receive an additional share equal to this percentage
688
multiplied by the total funds received by the Local Government
689
Housing Trust Fund pursuant to s. 201.15(10) as reduced by the
690
guaranteed amount paid to all counties.
691
(3) Calculation of guaranteed amounts:
692
(a) The guaranteed amount under subsection (1) shall be
693
calculated for each state fiscal year by multiplying $350,000 by
694
a fraction, the numerator of which is the amount of funds
695
distributed to the Local Government Housing Trust Fund pursuant
696
to s. 201.15(9) and the denominator of which is the total amount
697
of funds distributed to the Local Government Housing Trust Fund
698
pursuant to s. 201.15 less the total amount withheld, but not
699
more than $10 million as provided in subsections (5) and (6).
700
(b) The guaranteed amount under subsection (2) shall be
701
calculated for each state fiscal year by multiplying $350,000 by
702
a fraction, the numerator of which is the amount of funds
703
distributed to the Local Government Housing Trust Fund pursuant
704
to s. 201.15(10) and the denominator of which is the total amount
705
of funds distributed to the Local Government Housing Trust Fund
706
pursuant to s. 201.15 less the total amount withheld, but not
707
more than $10 million as provided in subsections (5) and (6).
708
(5) Notwithstanding subsections (1)-(4), the corporation
709
may withhold up to $5 million of the total amount distributed
710
each fiscal year from the Local Government Housing Trust Fund to
711
provide additional funding to counties and eligible
712
municipalities where a state of emergency has been declared by
713
the Governor under chapter 252. Any portion of the withheld funds
714
not distributed by the end of the fiscal year shall be
715
distributed as provided in subsections (1) and (2).
716
(6) Notwithstanding subsections (1)-(4), the corporation
717
may withhold up to $5 million of the total amount distributed
718
each fiscal year from the Local Government Housing Trust Fund to
719
provide funding to counties and eligible municipalities to
720
purchase properties subject to a State Housing Initiatives
721
Partnership Program lien and on which foreclosure proceedings
722
have been instituted by a mortgagee. Each county and eligible
723
municipality receiving funds under this subsection shall repay
724
such funds to the corporation on or before the expenditure
725
deadline for the fiscal year in which the funds were awarded.
726
Amounts not repaid by the county or eligible municipality shall
727
be withheld from the subsequent year's distribution under
728
subsections (1) and (2). Any portion of such funds not
729
distributed under this subsection by the end of the fiscal year
730
shall be distributed as provided in subsections (1) and (2).
731
(7) A county receiving local housing distributions under
732
this section or an eligible municipality receiving local housing
733
distributions under an interlocal agreement shall expend those
735
rules of the corporation, and the county's local housing
736
assistance plan.
737
Section 11. Subsections (1), (3), (5), (7), and (8),
738
paragraphs (a) and (h) of subsection (10), and paragraph (b) of
739
subsection (13) of section 420.9075, Florida Statutes, are
740
amended, and subsection (14) is added to that section, to read:
741
420.9075 Local housing assistance plans; partnerships.--
742
(1)(a) Each county or eligible municipality participating
743
in the State Housing Initiatives Partnership Program shall
744
develop and implement a local housing assistance plan created to
745
make affordable residential units available to persons of very
746
low income, low income, or moderate income and to persons who
747
have special housing needs, including, but not limited to,
748
homeless people, the elderly, and migrant farmworkers, and
749
persons with disabilities. High-cost counties as defined by rule
750
of the corporation or eligible municipalities within high-cost
751
counties may include strategies to assist persons and households
752
having annual incomes of not more than 140 percent of area median
753
income. The plans are intended to increase the availability of
754
affordable residential units by combining local resources and
755
cost-saving measures into a local housing partnership and using
756
private and public funds to reduce the cost of housing.
757
(b) Local housing assistance plans may allocate funds to:
758
1. Implement local housing assistance strategies for the
759
provision of affordable housing.
760
2. Supplement funds available to the corporation to provide
761
enhanced funding of state housing programs within the county or
762
the eligible municipality.
763
3. Provide the local matching share of federal affordable
764
housing grants or programs.
765
4. Fund emergency repairs, including, but not limited to,
766
repairs performed by existing service providers under
768
5. Further the housing element of the local government
769
comprehensive plan adopted pursuant to s. 163.3184, specific to
770
affordable housing.
771
(3)(a) Each local housing assistance plan shall include a
772
definition of essential service personnel for the county or
773
eligible municipality, including, but not limited to, teachers
774
and educators, other school district, community college, and
775
university employees, police and fire personnel, health care
776
personnel, skilled building trades personnel, and other job
777
categories.
778
(b) Each county and each eligible municipality is
779
encouraged to develop a strategy within its local housing
780
assistance plan that emphasizes the recruitment and retention of
781
essential service personnel. The local government is encouraged
782
to involve public and private sector employers. Compliance with
783
the eligibility criteria established under this strategy shall be
784
verified by the county or eligible municipality.
785
(c) Each county and each eligible municipality is
786
encouraged to develop a strategy within its local housing
787
assistance plan that addresses the needs of persons who are
788
deprived of affordable housing due to the closure of a mobile
789
home park or the conversion of affordable rental units to
790
condominiums.
791
(d) Each county and each eligible municipality shall
792
describe initiatives in the local housing assistance plan to
793
encourage or require innovative design, green building
794
principles, storm-resistant construction, or other elements that
795
reduce long-term costs relating to maintenance, utilities, or
796
insurance.
797
(e) Each county and each eligible municipality is
798
encouraged to develop a strategy within its local housing
799
assistance plan which provides program funds for the preservation
800
of assisted housing or assisted housing developments.
801
(5) The following criteria apply to awards made to eligible
802
sponsors or eligible persons for the purpose of providing
803
eligible housing:
804
(a) At least 65 percent of the funds made available in each
805
county and eligible municipality from the local housing
806
distribution must be reserved for home ownership for eligible
807
persons.
808
(b) At least 75 percent of the funds made available in each
809
county and eligible municipality from the local housing
810
distribution must be reserved for construction, rehabilitation,
811
or emergency repair of affordable, eligible housing.
812
(c) Not more than 15 percent of the funds made available in
813
each county and eligible municipality from the local housing
814
distribution may be used for manufactured housing constructed
815
after June 1994 and installed in accordance with the installation
816
standards for mobile or manufactured homes contained in rules of
817
the Department of Highway Safety and Motor Vehicles.
818
(d)(c) The sales price or value of new or existing eligible
819
housing may not exceed 90 percent of the average area purchase
820
price in the statistical area in which the eligible housing is
821
located. Such average area purchase price may be that calculated
822
for any 12-month period beginning not earlier than the fourth
823
calendar year prior to the year in which the award occurs or as
824
otherwise established by the United States Department of the
825
Treasury.
826
(e)(d)1. All units constructed, rehabilitated, or otherwise
827
assisted with the funds provided from the local housing
828
assistance trust fund must be occupied by very-low-income
829
persons, low-income persons, and moderate-income persons except
830
as otherwise provided in this section.
831
2. At least 30 percent of the funds deposited into the
832
local housing assistance trust fund must be reserved for awards
833
to very-low-income persons or eligible sponsors who will serve
834
very-low-income persons and at least an additional 30 percent of
835
the funds deposited into the local housing assistance trust fund
836
must be reserved for awards to low-income persons or eligible
837
sponsors who will serve low-income persons. This subparagraph
838
does not apply to a county or an eligible municipality that
839
includes, or has included within the previous 5 years, an area of
840
critical state concern designated or ratified by the Legislature
841
for which the Legislature has declared its intent to provide
842
affordable housing. The exemption created by this act expires on
843
July 1, 2013 2008.
844
(f)(e) Loans shall be provided for periods not exceeding 30
845
years, except for deferred payment loans or loans that extend
846
beyond 30 years which continue to serve eligible persons.
847
(g)(f) Loans or grants for eligible rental housing
848
constructed, rehabilitated, or otherwise assisted from the local
849
housing assistance trust fund must be subject to recapture
850
requirements as provided by the county or eligible municipality
851
in its local housing assistance plan unless reserved for eligible
852
persons for 15 years or the term of the assistance, whichever
853
period is longer. Eligible sponsors that offer rental housing for
854
sale before 15 years or that have remaining mortgages funded
855
under this program must give a first right of refusal to eligible
856
nonprofit organizations for purchase at the current market value
857
for continued occupancy by eligible persons.
858
(h)(g) Loans or grants for eligible owner-occupied housing
859
constructed, rehabilitated, or otherwise assisted from proceeds
860
provided from the local housing assistance trust fund shall be
861
subject to recapture requirements as provided by the county or
862
eligible municipality in its local housing assistance plan.
863
(i)(h) The total amount of monthly mortgage payments or the
864
amount of monthly rent charged by the eligible sponsor or her or
865
his designee must be made affordable.
866
(j)(i) The maximum sales price or value per unit and the
867
maximum award per unit for eligible housing benefiting from
868
awards made pursuant to this section must be established in the
869
local housing assistance plan.
870
(k)(j) The benefit of assistance provided through the State
871
Housing Initiatives Partnership Program must accrue to eligible
872
persons occupying eligible housing. This provision shall not be
873
construed to prohibit use of the local housing distribution funds
874
for a mixed income rental development.
875
(l)(k) Funds from the local housing distribution not used
876
to meet the criteria established in paragraph (a) or paragraph
877
(b) or not used for the administration of a local housing
878
assistance plan must be used for housing production and finance
879
activities, including, but not limited to, financing
880
preconstruction activities or the purchase of existing units,
881
providing rental housing, and providing home ownership training
882
to prospective home buyers and owners of homes assisted through
883
the local housing assistance plan.
884
1. Notwithstanding the provisions of paragraphs (a) and
886
may also be used to fund activities described in this paragraph.
887
2. Where preconstruction due diligence activities conducted
888
as part of a preservation strategy show that preservation of the
889
units is not feasible and will not result in the production of an
890
eligible unit, such costs shall be deemed a program expense
891
rather than an administrative expense if such program expenses do
892
not exceed 3 percent of the annual local housing distribution.
893
(m) Each county and each eligible municipality may award
894
funds as a grant for construction, rehabilitation, or repair as
895
part of disaster recovery or emergency repairs or to remedy
896
accessibility or health and safety deficiencies. Any other grants
897
must be approved as part of the local housing assistance plan.
898
899
If both an award under the local housing assistance plan and
900
federal low-income housing tax credits are used to assist a
901
project and there is a conflict between the criteria prescribed
902
in this subsection and the requirements of s. 42 of the Internal
903
Revenue Code of 1986, as amended, the county or eligible
904
municipality may resolve the conflict by giving precedence to the
905
requirements of s. 42 of the Internal Revenue Code of 1986, as
906
amended, in lieu of following the criteria prescribed in this
907
subsection with the exception of paragraphs (a) and (e) (d) of
908
this subsection.
909
(7) The moneys deposited in the local housing assistance
910
trust fund shall be used to administer and implement the local
911
housing assistance plan. The cost of administering the plan may
912
not exceed 5 percent of the local housing distribution moneys and
913
program income deposited into the trust fund. A county or an
914
eligible municipality may not exceed the 5-percent limitation on
915
administrative costs, unless its governing body finds, by
916
resolution, that 5 percent of the local housing distribution plus
917
5 percent of program income is insufficient to adequately pay the
918
necessary costs of administering the local housing assistance
919
plan. The cost of administering the program may not exceed 10
920
percent of the local housing distribution plus 10 5 percent of
921
program income deposited into the trust fund, except that small
922
counties, as defined in s. 120.52(17), and eligible
923
municipalities receiving a local housing distribution of up to
924
$350,000 may use up to 10 percent of program income for
925
administrative costs.
926
(8) Pursuant to s. 420.531, the corporation shall provide
927
training and technical assistance to local governments regarding
928
the creation of partnerships, the design of local housing
929
assistance strategies, the implementation of local housing
930
incentive strategies, and the provision of support services.
931
(10) Each county or eligible municipality shall submit to
932
the corporation by September 15 of each year a report of its
933
affordable housing programs and accomplishments through June 30
934
immediately preceding submittal of the report. The report shall
935
be certified as accurate and complete by the local government's
936
chief elected official or his or her designee. Transmittal of the
937
annual report by a county's or eligible municipality's chief
938
elected official, or his or her designee, certifies that the
939
local housing incentive strategies, or, if applicable, the local
940
housing incentive plan, have been implemented or are in the
941
process of being implemented pursuant to the adopted schedule for
942
implementation. The report must include, but is not limited to:
943
(a) The number of households served by income category,
944
age, family size, and race, and data regarding any special needs
945
populations such as farmworkers, homeless persons, persons with
946
disabilities, and the elderly. Counties shall report this
947
information separately for households served in the
948
unincorporated area and each municipality within the county.
949
(h) Such other data or affordable housing accomplishments
950
considered significant by the reporting county or eligible
951
municipality or by the corporation.
952
(13)
953
(b) If, as a result of its review of the annual report, the
954
corporation determines that a county or eligible municipality has
955
failed to implement a local housing incentive strategy, or, if
956
applicable, a local housing incentive plan, it shall send a
957
notice of termination of the local government's share of the
958
local housing distribution by certified mail to the affected
959
county or eligible municipality.
960
1. The notice must specify a date of termination of the
961
funding if the affected county or eligible municipality does not
962
implement the plan or strategy and provide for a local response.
963
A county or eligible municipality shall respond to the
964
corporation within 30 days after receipt of the notice of
965
termination.
966
2. The corporation shall consider the local response that
967
extenuating circumstances precluded implementation and grant an
968
extension to the timeframe for implementation. Such an extension
969
shall be made in the form of an extension agreement that provides
970
a timeframe for implementation. The chief elected official of a
971
county or eligible municipality or his or her designee shall have
972
the authority to enter into the agreement on behalf of the local
973
government.
974
3. If the county or the eligible municipality has not
975
implemented the incentive strategy or entered into an extension
976
agreement by the termination date specified in the notice, the
977
local housing distribution share terminates, and any uncommitted
978
local housing distribution funds held by the affected county or
979
eligible municipality in its local housing assistance trust fund
980
shall be transferred to the Local Government Housing Trust Fund
981
to the credit of the corporation to administer pursuant to s.
983
4.a. If the affected local government fails to meet the
984
timeframes specified in the agreement, the corporation shall
985
terminate funds. The corporation shall send a notice of
986
termination of the local government's share of the local housing
987
distribution by certified mail to the affected local government.
988
The notice shall specify the termination date, and any
989
uncommitted funds held by the affected local government shall be
990
transferred to the Local Government Housing Trust Fund to the
991
credit of the corporation to administer pursuant to s. 420.9072
992
s. 420.9078.
993
b. If the corporation terminates funds to a county, but an
994
eligible municipality receiving a local housing distribution
995
pursuant to an interlocal agreement maintains compliance with
996
program requirements, the corporation shall thereafter distribute
997
directly to the participating eligible municipality its share
998
calculated in the manner provided in s. 420.9072.
999
c. Any county or eligible municipality whose local
1000
distribution share has been terminated may subsequently elect to
1001
receive directly its local distribution share by adopting the
1002
ordinance, resolution, and local housing assistance plan in the
1003
manner and according to the procedures provided in ss. 420.907-
1004
1005
(14) If the corporation determines that a county or
1006
eligible municipality has expended program funds for an
1007
ineligible activity, the corporation shall require such funds to
1008
be repaid to the Local Housing Assistance Trust Fund. Such
1009
repayment may not be made with funds from the State Housing
1010
Initiatives Partnership Program.
1011
Section 12. Subsections (2), (5), and (6) and paragraph (a)
1012
of subsection (7) of section 420.9076, Florida Statutes, are
1013
amended to read:
1014
420.9076 Adoption of affordable housing incentive
1015
strategies; committees.--
1016
(2) The governing board of a county or municipality shall
1017
appoint the members of the affordable housing advisory committee
1018
by resolution. Pursuant to the terms of any interlocal agreement,
1019
a county and municipality may create and jointly appoint an
1020
advisory committee to prepare a joint plan. The ordinance adopted
1021
pursuant to s. 420.9072 which creates the advisory committee or
1022
the resolution appointing the advisory committee members must
1023
provide for 11 committee members and their terms. The committee
1024
must include:
1025
(a) One citizen who is actively engaged in the residential
1026
home building industry in connection with affordable housing.
1027
(b) One citizen who is actively engaged in the banking or
1028
mortgage banking industry in connection with affordable housing.
1029
(c) One citizen who is a representative of those areas of
1030
labor actively engaged in home building in connection with
1031
affordable housing.
1032
(d) One citizen who is actively engaged as an advocate for
1033
low-income persons in connection with affordable housing.
1034
(e) One citizen who is actively engaged as a for-profit
1035
provider of affordable housing.
1036
(f) One citizen who is actively engaged as a not-for-profit
1037
provider of affordable housing.
1038
(g) One citizen who is actively engaged as a real estate
1039
professional in connection with affordable housing.
1040
(h) One citizen who actively serves on the local planning
1041
agency pursuant to s. 163.3174. If the local planning agency is
1042
comprised of the county or municipality governing body, the
1043
governing body may appoint a designee who is knowledgeable in the
1044
local planning process.
1045
(i) One citizen who resides within the jurisdiction of the
1046
local governing body making the appointments.
1047
(j) One citizen who represents employers within the
1048
jurisdiction.
1049
(k) One citizen who represents essential services
1050
personnel, as defined in the local housing assistance plan.
1051
1052
If a county or eligible municipality whether due to its small
1053
size, the presence of a conflict of interest by prospective
1054
appointees, or other reasonable factor, is unable to appoint a
1055
citizen actively engaged in these activities in connection with
1056
affordable housing, a citizen engaged in the activity without
1057
regard to affordable housing may be appointed. Local governments
1058
that receive the minimum allocation under the State Housing
1059
Initiatives Partnership Program may elect to appoint an
1060
affordable housing advisory committee with fewer than 11
1061
representatives if they are unable to find representatives who
1062
meet the criteria of paragraphs (a)-(k).
1063
(5) The approval by the advisory committee of its local
1064
housing incentive strategies recommendations and its review of
1065
local government implementation of previously recommended
1066
strategies must be made by affirmative vote of a majority of the
1067
membership of the advisory committee taken at a public hearing.
1068
Notice of the time, date, and place of the public hearing of the
1069
advisory committee to adopt its evaluation and final local
1070
housing incentive strategies recommendations must be published in
1071
a newspaper of general paid circulation in the county. The notice
1072
must contain a short and concise summary of the evaluation and
1073
local housing incentives strategies recommendations to be
1074
considered by the advisory committee. The notice must state the
1075
public place where a copy of the evaluation and tentative
1076
advisory committee recommendations can be obtained by interested
1077
persons. The final report, evaluation, and recommendations shall
1078
be submitted to the corporation.
1079
(6) Within 90 days after the date of receipt of the
1080
evaluation and local housing incentive strategies recommendations
1081
from the advisory committee, the governing body of the appointing
1082
local government shall adopt an amendment to its local housing
1083
assistance plan to incorporate the local housing incentive
1084
strategies it will implement within its jurisdiction. The
1085
amendment must include, at a minimum, the local housing incentive
1087
local government must consider the strategies specified in
1088
paragraphs (4)(a)-(k) as recommended by the advisory committee.
1089
(7) The governing board of the county or the eligible
1090
municipality shall notify the corporation by certified mail of
1091
its adoption of an amendment of its local housing assistance plan
1092
to incorporate local housing incentive strategies. The notice
1093
must include a copy of the approved amended plan.
1094
(a) If the corporation fails to receive timely the approved
1095
amended local housing assistance plan to incorporate local
1096
housing incentive strategies, a notice of termination of its
1097
share of the local housing distribution shall be sent by
1098
certified mail by the corporation to the affected county or
1099
eligible municipality. The notice of termination must specify a
1100
date of termination of the funding if the affected county or
1101
eligible municipality has not adopted an amended local housing
1102
assistance plan to incorporate local housing incentive
1103
strategies. If the county or the eligible municipality has not
1104
adopted an amended local housing assistance plan to incorporate
1105
local housing incentive strategies by the termination date
1106
specified in the notice of termination, the local distribution
1107
share terminates; and any uncommitted local distribution funds
1108
held by the affected county or eligible municipality in its local
1109
housing assistance trust fund shall be transferred to the Local
1110
Government Housing Trust Fund to the credit of the corporation to
1111
administer the local government housing program pursuant to s.
1113
Section 13. Section 420.9079, Florida Statutes, is amended
1114
to read:
1115
420.9079 Local Government Housing Trust Fund.--
1116
(1) There is created in the State Treasury the Local
1117
Government Housing Trust Fund, which shall be administered by the
1118
corporation on behalf of the department according to the
1120
section. There shall be deposited into the fund a portion of the
1121
documentary stamp tax revenues as provided in s. 201.15, moneys
1122
received from any other source for the purposes of ss. 420.907-
1124
derived from the investment of such moneys. Moneys in the fund
1125
that are not currently needed for the purposes of the programs
1127
and this section shall be deposited to the credit of the fund and
1128
may be invested as provided by law. The interest received on any
1129
such investment shall be credited to the fund.
1130
(2) The corporation shall administer the fund exclusively
1131
for the purpose of implementing the programs described in ss.
1133
exception of monitoring the activities of counties and eligible
1134
municipalities to determine local compliance with program
1135
requirements, the corporation shall not receive appropriations
1136
from the fund for administrative or personnel costs. For the
1137
purpose of implementing the compliance monitoring provisions of
1138
s. 420.9075(9), the corporation may request a maximum of one-
1139
quarter of 1 percent of the annual appropriation per state fiscal
1140
year. When such funding is appropriated, the corporation shall
1141
deduct the amount appropriated prior to calculating the local
1143
Section 14. Subsection (6) of section 421.08, Florida
1144
Statutes, is amended to read:
1145
421.08 Powers of authority.--An authority shall constitute
1146
a public body corporate and politic, exercising the public and
1147
essential governmental functions set forth in this chapter, and
1148
having all the powers necessary or convenient to carry out and
1149
effectuate the purpose and provisions of this chapter, including
1150
the following powers in addition to others herein granted:
1151
(6) Within its area of operation: to investigate into
1152
living, dwelling, and housing conditions and into the means and
1153
methods of improving such conditions; to determine where slum
1154
areas exist or where there is a shortage of decent, safe, and
1155
sanitary dwelling accommodations for persons of low income; to
1156
make studies and recommendations relating to the problem of
1157
clearing, replanning, and reconstruction of slum areas and the
1158
problem of providing dwelling accommodations for persons of low
1159
income; to administer fair housing ordinances and other
1160
ordinances as adopted by cities, counties, or other authorities
1161
who wish to contract for administrative services and to cooperate
1162
with the city, the county, the state or any political subdivision
1163
thereof in action taken in connection with such problems; and to
1164
engage in research, studies, and experimentation on the subject
1165
of housing. However, the housing authority may not take action to
1166
prohibit access to a housing project by a state or local elected
1167
official or a candidate for state or local government office.
1168
Section 15. Subsection (12) of section 1001.43, Florida
1169
Statutes, is amended to read:
1170
1001.43 Supplemental powers and duties of district school
1171
board.--The district school board may exercise the following
1172
supplemental powers and duties as authorized by this code or
1173
State Board of Education rule.
1174
(12) AFFORDABLE HOUSING.--A district school board may use
1175
portions of school sites purchased within the guidelines of the
1176
State Requirements for Educational Facilities, land deemed not
1177
usable for educational purposes because of location or other
1178
factors, or land declared as surplus by the board to provide
1179
sites for affordable housing for teachers and other district
1180
personnel and, in areas of critical state concern, for other
1181
essential services personnel as defined by local affordable
1182
housing eligibility requirements, independently or in conjunction
1183
with other agencies as described in subsection (5).
1184
Section 16. Subsection (4) of section 159.807, Florida
1185
Statutes, is amended to read:
1186
159.807 State allocation pool.--
1187
(4)(a) The state allocation pool shall also be used to
1188
provide written confirmations for private activity bonds that are
1189
to be issued by state agencies, which bonds, notwithstanding any
1190
other provisions of this part, shall receive priority in the use
1191
of the pool available at the time the notice of intent to issue
1192
such bonds is filed with the division.
1193
(b) Notwithstanding the provisions of paragraph (a), on or
1194
before November 15 of each year, the Florida Housing Finance
1195
Corporation's access to the state allocation pool is limited to
1196
the amount of the corporation's initial allocation under s.
1197
159.804. Thereafter, the corporation may not receive more than 80
1198
percent of the amount in the state allocation pool on November 16
1199
of each year, and may not receive more than 80 percent of any
1200
additional amounts that become available each year. This
1201
subsection does not apply to the Florida Housing Finance
1202
Corporation:
1203
1. Until its allocation pursuant to s. 159.804(3) has been
1204
exhausted, is unavailable, or is inadequate to provide an
1205
allocation pursuant to s. 159.804(3) and any carryforwards of
1206
volume limitation from prior years for the same carryforward
1207
purpose, as that term is defined in s. 146 of the Code, as the
1208
bonds it intends to issue have been completely utilized or have
1209
expired.
1210
2. Prior to July 1 of any year, when housing bonds for
1211
which the Florida Housing Finance Corporation has made an
1212
assignment of its allocation permitted by s. 159.804(3)(c) have
1213
not been issued.
1214
Section 17. Section 420.9078, Florida Statutes, is repealed.
1215
Section 18. Paragraph (p) of subsection (5) of section
1216
212.08, Florida Statutes, is amended to read:
1217
212.08 Sales, rental, use, consumption, distribution, and
1218
storage tax; specified exemptions.--The sale at retail, the
1219
rental, the use, the consumption, the distribution, and the
1220
storage to be used or consumed in this state of the following are
1221
hereby specifically exempt from the tax imposed by this chapter.
1222
(5) EXEMPTIONS; ACCOUNT OF USE.--
1223
(p) Community contribution tax credit for donations.--
1224
1. Authorization.--Persons who are registered with the
1225
department under s. 212.18 to collect or remit sales or use tax
1226
and who make donations to eligible sponsors are eligible for tax
1227
credits against their state sales and use tax liabilities as
1228
provided in this paragraph:
1229
a. The credit shall be computed as 50 percent of the
1230
person's approved annual community contribution.
1231
b. The credit shall be granted as a refund against state
1232
sales and use taxes reported on returns and remitted in the 12
1233
months preceding the date of application to the department for
1234
the credit as required in sub-subparagraph 3.c. If the annual
1235
credit is not fully used through such refund because of
1236
insufficient tax payments during the applicable 12-month period,
1237
the unused amount may be included in an application for a refund
1238
made pursuant to sub-subparagraph 3.c. in subsequent years
1239
against the total tax payments made for such year. Carryover
1240
credits may be applied for a 3-year period without regard to any
1241
time limitation that would otherwise apply under s. 215.26.
1242
c. A person may not receive more than $200,000 in annual
1243
tax credits for all approved community contributions made in any
1244
one year.
1245
d. All proposals for the granting of the tax credit require
1246
the prior approval of the Office of Tourism, Trade, and Economic
1247
Development.
1248
e. The total amount of tax credits which may be granted for
1249
all programs approved under this paragraph, s. 220.183, and s.
1250
624.5105 is $10.5 million annually for projects that provide
1251
homeownership opportunities for low-income or very-low-income
1253
and (28) and $3.5 million annually for all other projects.
1254
f. A person who is eligible to receive the credit provided
1256
credit only under the one section of the person's choice.
1257
2. Eligibility requirements.--
1258
a. A community contribution by a person must be in the
1259
following form:
1260
(I) Cash or other liquid assets;
1261
(II) Real property;
1262
(III) Goods or inventory; or
1263
(IV) Other physical resources as identified by the Office
1264
of Tourism, Trade, and Economic Development.
1265
b. All community contributions must be reserved exclusively
1266
for use in a project. As used in this sub-subparagraph, the term
1267
"project" means any activity undertaken by an eligible sponsor
1268
which is designed to construct, improve, or substantially
1269
rehabilitate housing that is affordable to low-income or very-
1270
low-income households as defined in s. 420.9071(20) and (30) s.
1271
420.9071(19) and (28); designed to provide commercial,
1272
industrial, or public resources and facilities; or designed to
1273
improve entrepreneurial and job-development opportunities for
1274
low-income persons. A project may be the investment necessary to
1275
increase access to high-speed broadband capability in rural
1276
communities with enterprise zones, including projects that result
1277
in improvements to communications assets that are owned by a
1278
business. A project may include the provision of museum
1279
educational programs and materials that are directly related to
1280
any project approved between January 1, 1996, and December 31,
1281
1999, and located in an enterprise zone designated pursuant to s.
1282
290.0065. This paragraph does not preclude projects that propose
1283
to construct or rehabilitate housing for low-income or very-low-
1284
income households on scattered sites. With respect to housing,
1285
contributions may be used to pay the following eligible low-
1286
income and very-low-income housing-related activities:
1287
(I) Project development impact and management fees for low-
1288
income or very-low-income housing projects;
1289
(II) Down payment and closing costs for eligible persons,
1291
(III) Administrative costs, including housing counseling
1292
and marketing fees, not to exceed 10 percent of the community
1293
contribution, directly related to low-income or very-low-income
1294
projects; and
1295
(IV) Removal of liens recorded against residential property
1296
by municipal, county, or special district local governments when
1297
satisfaction of the lien is a necessary precedent to the transfer
1298
of the property to an eligible person, as defined in s.
1300
of promoting home ownership. Contributions for lien removal must
1301
be received from a nonrelated third party.
1302
c. The project must be undertaken by an "eligible sponsor,"
1303
which includes:
1304
(I) A community action program;
1305
(II) A nonprofit community-based development organization
1306
whose mission is the provision of housing for low-income or very-
1307
low-income households or increasing entrepreneurial and job-
1308
development opportunities for low-income persons;
1309
(III) A neighborhood housing services corporation;
1310
(IV) A local housing authority created under chapter 421;
1311
(V) A community redevelopment agency created under s.
1312
1313
(VI) The Florida Industrial Development Corporation;
1314
(VII) A historic preservation district agency or
1315
organization;
1316
(VIII) A regional workforce board;
1317
(IX) A direct-support organization as provided in s.
1318
1319
(X) An enterprise zone development agency created under s.
1320
1321
(XI) A community-based organization incorporated under
1322
chapter 617 which is recognized as educational, charitable, or
1323
scientific pursuant to s. 501(c)(3) of the Internal Revenue Code
1324
and whose bylaws and articles of incorporation include affordable
1325
housing, economic development, or community development as the
1326
primary mission of the corporation;
1327
(XII) Units of local government;
1328
(XIII) Units of state government; or
1329
(XIV) Any other agency that the Office of Tourism, Trade,
1330
and Economic Development designates by rule.
1331
1332
In no event may A contributing person may not have a financial
1333
interest in the eligible sponsor.
1334
d. The project must be located in an area designated an
1335
enterprise zone or a Front Porch Florida Community pursuant to s.
1336
20.18(6), unless the project increases access to high-speed
1337
broadband capability for rural communities with enterprise zones
1338
but is physically located outside the designated rural zone
1339
boundaries. Any project designed to construct or rehabilitate
1340
housing for low-income or very-low-income households as defined
1342
from the area requirement of this sub-subparagraph.
1343
e.(I) If, during the first 10 business days of the state
1344
fiscal year, eligible tax credit applications for projects that
1345
provide homeownership opportunities for low-income or very-low-
1346
income households as defined in s. 420.9071(20) and (30) s.
1347
420.9071(19) and (28) are received for less than the annual tax
1348
credits available for those projects, the Office of Tourism,
1349
Trade, and Economic Development shall grant tax credits for those
1350
applications and shall grant remaining tax credits on a first-
1351
come, first-served basis for any subsequent eligible applications
1352
received before the end of the state fiscal year. If, during the
1353
first 10 business days of the state fiscal year, eligible tax
1354
credit applications for projects that provide homeownership
1355
opportunities for low-income or very-low-income households as
1357
received for more than the annual tax credits available for those
1358
projects, the office shall grant the tax credits for those
1359
applications as follows:
1360
(A) If tax credit applications submitted for approved
1361
projects of an eligible sponsor do not exceed $200,000 in total,
1362
the credits shall be granted in full if the tax credit
1363
applications are approved.
1364
(B) If tax credit applications submitted for approved
1365
projects of an eligible sponsor exceed $200,000 in total, the
1366
amount of tax credits granted pursuant to sub-sub-sub-
1367
subparagraph (A) shall be subtracted from the amount of available
1368
tax credits, and the remaining credits shall be granted to each
1369
approved tax credit application on a pro rata basis.
1370
(II) If, during the first 10 business days of the state
1371
fiscal year, eligible tax credit applications for projects other
1372
than those that provide homeownership opportunities for low-
1373
income or very-low-income households as defined in s.
1375
less than the annual tax credits available for those projects,
1376
the office shall grant tax credits for those applications and
1377
shall grant remaining tax credits on a first-come, first-served
1378
basis for any subsequent eligible applications received before
1379
the end of the state fiscal year. If, during the first 10
1380
business days of the state fiscal year, eligible tax credit
1381
applications for projects other than those that provide
1382
homeownership opportunities for low-income or very-low-income
1384
and (28) are received for more than the annual tax credits
1385
available for those projects, the office shall grant the tax
1386
credits for those applications on a pro rata basis.
1387
3. Application requirements.--
1388
a. Any eligible sponsor seeking to participate in this
1389
program must submit a proposal to the Office of Tourism, Trade,
1390
and Economic Development which sets forth the name of the
1391
sponsor, a description of the project, and the area in which the
1392
project is located, together with such supporting information as
1393
is prescribed by rule. The proposal must also contain a
1394
resolution from the local governmental unit in which the project
1395
is located certifying that the project is consistent with local
1396
plans and regulations.
1397
b. Any person seeking to participate in this program must
1398
submit an application for tax credit to the office which sets
1399
forth the name of the sponsor, a description of the project, and
1400
the type, value, and purpose of the contribution. The sponsor
1401
shall verify the terms of the application and indicate its
1402
receipt of the contribution, which verification must be in
1403
writing and accompany the application for tax credit. The person
1404
must submit a separate tax credit application to the office for
1405
each individual contribution that it makes to each individual
1406
project.
1407
c. Any person who has received notification from the office
1408
that a tax credit has been approved must apply to the department
1409
to receive the refund. Application must be made on the form
1410
prescribed for claiming refunds of sales and use taxes and be
1411
accompanied by a copy of the notification. A person may submit
1412
only one application for refund to the department within any 12-
1413
month period.
1414
4. Administration.--
1415
a. The Office of Tourism, Trade, and Economic Development
1417
to administer this paragraph, including rules for the approval or
1418
disapproval of proposals by a person.
1419
b. The decision of the office must be in writing, and, if
1420
approved, the notification shall state the maximum credit
1421
allowable to the person. Upon approval, the office shall transmit
1422
a copy of the decision to the Department of Revenue.
1423
c. The office shall periodically monitor all projects in a
1424
manner consistent with available resources to ensure that
1425
resources are used in accordance with this paragraph; however,
1426
each project must be reviewed at least once every 2 years.
1427
d. The office shall, in consultation with the Department of
1428
Community Affairs and the statewide and regional housing and
1429
financial intermediaries, market the availability of the
1430
community contribution tax credit program to community-based
1431
organizations.
1432
5. Expiration.--This paragraph expires June 30, 2015;
1433
however, any accrued credit carryover that is unused on that date
1434
may be used until the expiration of the 3-year carryover period
1435
for such credit.
1436
Section 19. Paragraph (t) of subsection (1) of section
1437
220.03, Florida Statutes, is amended to read:
1438
220.03 Definitions.--
1439
(1) SPECIFIC TERMS.--When used in this code, and when not
1440
otherwise distinctly expressed or manifestly incompatible with
1441
the intent thereof, the following terms shall have the following
1442
meanings:
1443
(t) "Project" means any activity undertaken by an eligible
1444
sponsor, as defined in s. 220.183(2)(c), which is designed to
1445
construct, improve, or substantially rehabilitate housing that is
1446
affordable to low-income or very-low-income households as defined
1448
provide commercial, industrial, or public resources and
1449
facilities; or designed to improve entrepreneurial and job-
1450
development opportunities for low-income persons. A project may
1451
be the investment necessary to increase access to high-speed
1452
broadband capability in rural communities with enterprise zones,
1453
including projects that result in improvements to communications
1454
assets that are owned by a business. A project may include the
1455
provision of museum educational programs and materials that are
1456
directly related to any project approved between January 1, 1996,
1457
and December 31, 1999, and located in an enterprise zone
1458
designated pursuant to s. 290.0065. This paragraph does not
1459
preclude projects that propose to construct or rehabilitate low-
1460
income or very-low-income housing on scattered sites. With
1461
respect to housing, contributions may be used to pay the
1462
following eligible project-related activities:
1463
1. Project development, impact, and management fees for
1464
low-income or very-low-income housing projects;
1465
2. Down payment and closing costs for eligible persons, as
1467
3. Administrative costs, including housing counseling and
1468
marketing fees, not to exceed 10 percent of the community
1469
contribution, directly related to low-income or very-low-income
1470
projects; and
1471
4. Removal of liens recorded against residential property
1472
by municipal, county, or special-district local governments when
1473
satisfaction of the lien is a necessary precedent to the transfer
1474
of the property to an eligible person, as defined in s.
1476
of promoting home ownership. Contributions for lien removal must
1477
be received from a nonrelated third party.
1478
1479
The provisions of this paragraph shall expire and be void on June
1480
30, 2015.
1481
Section 20. Paragraph (c) of subsection (1) and paragraphs
1482
(b) and (d) of subsection (2) of section 220.183, Florida
1483
Statutes, are amended to read:
1484
220.183 Community contribution tax credit.--
1485
(1) AUTHORIZATION TO GRANT COMMUNITY CONTRIBUTION TAX
1486
CREDITS; LIMITATIONS ON INDIVIDUAL CREDITS AND PROGRAM
1487
SPENDING.--
1488
(c) The total amount of tax credit which may be granted for
1489
all programs approved under this section, s. 212.08(5)(p), and s.
1490
624.5105 is $10.5 million annually for projects that provide
1491
homeownership opportunities for low-income or very-low-income
1493
and (28) and $3.5 million annually for all other projects.
1494
(2) ELIGIBILITY REQUIREMENTS.--
1495
(b)1. All community contributions must be reserved
1496
exclusively for use in projects as defined in s. 220.03(1)(t).
1497
2. If, during the first 10 business days of the state
1498
fiscal year, eligible tax credit applications for projects that
1499
provide homeownership opportunities for low-income or very-low-
1500
income households as defined in s. 420.9071(20) and (30) s.
1501
420.9071(19) and (28) are received for less than the annual tax
1502
credits available for those projects, the Office of Tourism,
1503
Trade, and Economic Development shall grant tax credits for those
1504
applications and shall grant remaining tax credits on a first-
1505
come, first-served basis for any subsequent eligible applications
1506
received before the end of the state fiscal year. If, during the
1507
first 10 business days of the state fiscal year, eligible tax
1508
credit applications for projects that provide homeownership
1509
opportunities for low-income or very-low-income households as
1511
received for more than the annual tax credits available for those
1512
projects, the office shall grant the tax credits for those
1513
applications as follows:
1514
a. If tax credit applications submitted for approved
1515
projects of an eligible sponsor do not exceed $200,000 in total,
1516
the credit shall be granted in full if the tax credit
1517
applications are approved.
1518
b. If tax credit applications submitted for approved
1519
projects of an eligible sponsor exceed $200,000 in total, the
1520
amount of tax credits granted under sub-subparagraph a. shall be
1521
subtracted from the amount of available tax credits, and the
1522
remaining credits shall be granted to each approved tax credit
1523
application on a pro rata basis.
1524
3. If, during the first 10 business days of the state
1525
fiscal year, eligible tax credit applications for projects other
1526
than those that provide homeownership opportunities for low-
1527
income or very-low-income households as defined in s.
1529
less than the annual tax credits available for those projects,
1530
the office shall grant tax credits for those applications and
1531
shall grant remaining tax credits on a first-come, first-served
1532
basis for any subsequent eligible applications received before
1533
the end of the state fiscal year. If, during the first 10
1534
business days of the state fiscal year, eligible tax credit
1535
applications for projects other than those that provide
1536
homeownership opportunities for low-income or very-low-income
1538
and (28) are received for more than the annual tax credits
1539
available for those projects, the office shall grant the tax
1540
credits for those applications on a pro rata basis.
1541
(d) The project shall be located in an area designated as
1542
an enterprise zone or a Front Porch Florida Community pursuant to
1543
s. 20.18(6). Any project designed to construct or rehabilitate
1544
housing for low-income or very-low-income households as defined
1546
from the area requirement of this paragraph. This section does
1547
not preclude projects that propose to construct or rehabilitate
1548
housing for low-income or very-low-income households on scattered
1549
sites. Any project designed to provide increased access to high-
1550
speed broadband capabilities which includes coverage of a rural
1551
enterprise zone may locate the project's infrastructure in any
1552
area of a rural county.
1553
Section 21. Paragraph (c) of subsection (1) and paragraphs
1554
(d) and (e) of subsection (2) of section 624.5105, Florida
1555
Statutes, are amended to read:
1556
624.5105 Community contribution tax credit; authorization;
1557
limitations; eligibility and application requirements;
1558
administration; definitions; expiration.--
1559
(1) AUTHORIZATION TO GRANT TAX CREDITS; LIMITATIONS.--
1560
(c) The total amount of tax credit which may be granted for
1561
all programs approved under this section and ss. 212.08(5)(p) and
1562
220.183 is $10.5 million annually for projects that provide
1563
homeownership opportunities for low-income or very-low-income
1565
and (28) and $3.5 million annually for all other projects.
1566
(2) ELIGIBILITY REQUIREMENTS.--
1567
(d) The project shall be located in an area designated as
1568
an enterprise zone or a Front Porch Community pursuant to s.
1569
20.18(6). Any project designed to construct or rehabilitate
1570
housing for low-income or very-low-income households as defined
1572
from the area requirement of this paragraph.
1573
(e)1. If, during the first 10 business days of the state
1574
fiscal year, eligible tax credit applications for projects that
1575
provide homeownership opportunities for low-income or very-low-
1576
income households as defined in s. 420.9071(20) and (30) s.
1577
420.9071(19) and (28) are received for less than the annual tax
1578
credits available for those projects, the Office of Tourism,
1579
Trade, and Economic Development shall grant tax credits for those
1580
applications and shall grant remaining tax credits on a first-
1581
come, first-served basis for any subsequent eligible applications
1582
received before the end of the state fiscal year. If, during the
1583
first 10 business days of the state fiscal year, eligible tax
1584
credit applications for projects that provide homeownership
1585
opportunities for low-income or very-low-income households as
1587
received for more than the annual tax credits available for those
1588
projects, the office shall grant the tax credits for those
1589
applications as follows:
1590
a. If tax credit applications submitted for approved
1591
projects of an eligible sponsor do not exceed $200,000 in total,
1592
the credits shall be granted in full if the tax credit
1593
applications are approved.
1594
b. If tax credit applications submitted for approved
1595
projects of an eligible sponsor exceed $200,000 in total, the
1596
amount of tax credits granted under sub-subparagraph a. shall be
1597
subtracted from the amount of available tax credits, and the
1598
remaining credits shall be granted to each approved tax credit
1599
application on a pro rata basis.
1600
2. If, during the first 10 business days of the state
1601
fiscal year, eligible tax credit applications for projects other
1602
than those that provide homeownership opportunities for low-
1603
income or very-low-income households as defined in s.
1605
less than the annual tax credits available for those projects,
1606
the office shall grant tax credits for those applications and
1607
shall grant remaining tax credits on a first-come, first-served
1608
basis for any subsequent eligible applications received before
1609
the end of the state fiscal year. If, during the first 10
1610
business days of the state fiscal year, eligible tax credit
1611
applications for projects other than those that provide
1612
homeownership opportunities for low-income or very-low-income
1614
and (28) are received for more than the annual tax credits
1615
available for those projects, the office shall grant the tax
1616
credits for those applications on a pro rata basis.
1617
Section 22. This act shall take effect July 1, 2008.
CODING: Words stricken are deletions; words underlined are additions.