Florida Senate - 2017                                    SB 1658
       
       
        
       By Senator Torres
       
       
       
       
       
       15-01350-17                                           20171658__
    1                        A bill to be entitled                      
    2         An act relating to the State Housing Tax Credit
    3         Program; amending s. 220.185, F.S.; requiring a
    4         minimum allocation to be appropriated to the State
    5         Housing Tax Credit Program for each fiscal year;
    6         providing an effective date.
    7          
    8  Be It Enacted by the Legislature of the State of Florida:
    9  
   10         Section 1. Paragraph (b) of subsection (2) of section
   11  220.185, Florida Statutes, is amended to read:
   12         220.185 State housing tax credit.—
   13         (2) AUTHORIZATION TO GRANT STATE HOUSING TAX CREDITS;
   14  LIMITATION.—
   15         (b) The total amount of tax credits allocated for all
   16  projects may shall not exceed the amount appropriated for the
   17  State Housing Tax Credit Program in the General Appropriations
   18  Act. Subject to annual appropriations in the General
   19  Appropriations Act, at least $500,000 shall be appropriated to
   20  the State Housing Tax Credit Program for each fiscal year. The
   21  total tax credits allocated is defined as the total credits
   22  pledged over a 5-year period for all projects.
   23         Section 2. This act shall take effect July 1, 2017.