Florida Senate - 2020                          SENATOR AMENDMENT
       Bill No. CS/HB 7097, 1st Eng.
       
       
       
       
       
       
                                Ì724030bÎ724030                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
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                 Floor: WD/2R          .                                
             03/12/2020 06:29 PM       .                                
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       Senator Gruters moved the following:
       
    1         Senate Amendment to Substitute Amendment (271678) (with
    2  directory and title amendments)
    3  
    4         Between lines 464 and 465
    5  insert:
    6         (2)(a) Notwithstanding ss. 196.195 and 196.196, property in
    7  a multifamily project that meets the requirements of this
    8  paragraph is considered property used for a charitable purpose
    9  and is exempt shall receive a 50 percent discount from the
   10  amount of ad valorem tax otherwise owed beginning with the
   11  January 1 assessment after the 15th completed year of the term
   12  of the recorded agreement on those portions of the affordable
   13  housing property that provide housing to natural persons or
   14  families meeting the extremely-low-income, very-low-income, or
   15  low-income limits specified in s. 420.0004. The multifamily
   16  project must:
   17         1. Contain more than 70 units that are used to provide
   18  affordable housing to natural persons or families meeting the
   19  extremely-low-income, very-low-income, or low-income limits
   20  specified in s. 420.0004; and
   21         2. Be subject to an agreement with the Florida Housing
   22  Finance Corporation recorded in the official records of the
   23  county in which the property is located to provide affordable
   24  housing to natural persons or families meeting the extremely
   25  low-income, very-low-income, or low-income limits specified in
   26  s. 420.0004.
   27  
   28  This exemption discount terminates if the property no longer
   29  serves extremely-low-income, very-low-income, or low-income
   30  persons pursuant to the recorded agreement.
   31         (b) To receive the discount under paragraph (a), a
   32  qualified applicant must submit an application to the county
   33  property appraiser by March 1.
   34         (c) The property appraiser shall apply the discount by
   35  reducing the taxable value on those portions of the affordable
   36  housing property that provide housing to natural persons or
   37  families meeting the extremely-low-income, very-low-income, or
   38  low-income limits specified in s. 420.0004 before certifying the
   39  tax roll to the tax collector.
   40         1. The property appraiser shall first ascertain all other
   41  applicable exemptions, including exemptions provided pursuant to
   42  local option, and deduct all other exemptions from the assessed
   43  value.
   44         2. Fifty percent of the remaining value shall be subtracted
   45  to yield the discounted taxable value.
   46         3. The resulting taxable value shall be included in the
   47  certification for use by taxing authorities in setting millage.
   48         4. The property appraiser shall place the discounted amount
   49  on the tax roll when it is extended.
   50  
   51  ====== D I R E C T O R Y  C L A U S E  A M E N D M E N T ======
   52  And the directory clause is amended as follows:
   53         Delete lines 424 - 425
   54  and insert:
   55         Section 12. Effective January 1, 2021, section 196.1978,
   56  Florida Statutes, as amended by this act, is
   57  
   58  ================= T I T L E  A M E N D M E N T ================
   59  And the title is amended as follows:
   60         Delete line 1854
   61  and insert:
   62         meets income limits; exempting, rather than providing
   63         a discount, from ad valorem taxation for certain
   64         multifamily project property; conforming provisions to
   65         changes made by the act; amending s. 200.065, F.S.;