Florida Senate - 2017                        COMMITTEE AMENDMENT
       Bill No. SB 1770
       
       
       
       
       
       
                                Ì766500uÎ766500                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                 Comm: UNFAV           .                                
                  04/04/2017           .                                
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       The Committee on Community Affairs (Rodriguez) recommended the
       following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Between lines 80 and 81
    4  insert:
    5         Section 2. Present subsection (11) of section 163.362,
    6  Florida Statutes, is redesignated as subsection (12), and a new
    7  subsection (11) is added to that section, to read:
    8         163.362 Contents of community redevelopment plan.—Every
    9  community redevelopment plan shall:
   10         (11)(a) For a community redevelopment agency whose annual
   11  tax increment funding exceeds $1 million, set aside 10 percent
   12  of its annual tax increment funding to be used for low-income
   13  and moderate-income affordable housing.
   14         (b) For a community redevelopment agency whose annual tax
   15  increment funding exceeds $5 million, set aside 10 percent of
   16  the annual tax increment funding to be used for low-income or
   17  moderate-income affordable housing. If the community
   18  redevelopment agency does not use the 10 percent for affordable
   19  housing within 5 years, the money shall revert to the county for
   20  use for affordable housing.
   21         (c) Permit a community redevelopment agency to carry over
   22  tax increment funding that has been designated for use for
   23  affordable housing for low-income or moderate-income residents.
   24  
   25  ================= T I T L E  A M E N D M E N T ================
   26  And the title is amended as follows:
   27         Delete line 5
   28  and insert:
   29         annual reports; amending s. 163.362, F.S.; requiring a
   30         community redevelopment plan to set aside a specified
   31         percentage of a community redevelopment agency’s
   32         annual tax increment funding for specified purposes
   33         under certain circumstances; requiring the funding to
   34         revert to the county for use for affordable housing
   35         under certain circumstances; requiring a community
   36         redevelopment plan to permit a community redevelopment
   37         agency to carry over tax increment funding that has
   38         been designated for use for affordable housing for
   39         low-income or moderate-income residents; amending s.
   40         163.367, F.S.; requiring