Florida Senate - 2023                                    SB 1684
       By Senator Davis
       5-01518-23                                            20231684__
    1                        A bill to be entitled                      
    2         An act relating to youth housing and employment;
    3         creating s. 212.0975, F.S.; defining terms; providing
    4         a sales tax credit to certain businesses that hire
    5         specified employees; requiring such employees be
    6         employed for a minimum amount of time; specifying the
    7         amount of the tax credit; providing requirements to
    8         apply for the tax credit; requiring the Department of
    9         Economic Opportunity to review and approve
   10         applications that meet specified requirements;
   11         creating s. 220.1991, F.S.; defining terms; providing
   12         a tax credit against corporate income taxes to
   13         landlords who lease dwelling units under specified
   14         conditions to recent college graduates; providing an
   15         additional credit if the qualified lease agreement is
   16         at an affordable rate; specifying a minimum number of
   17         qualified lease agreements to qualify for the credit;
   18         providing an additional credit if the dwelling unit
   19         owned by the landlord is purchased as part of a lease
   20         option agreement for no more than fair market value;
   21         specifying the amount of such additional credit;
   22         specifying a limitation on the amount of credits
   23         claimed in any one year; specifying a limitation on a
   24         the transfer of credits; requiring a landlord to
   25         affirmatively demonstrate to the Department of Revenue
   26         that requirements have been met to receive a tax
   27         credit; authorizing the department to adopt rules
   28         regarding eligibility for tax credits; requiring the
   29         department to consult with the Shimberg Center for
   30         Affordable Housing Studies at the University of
   31         Florida in determining the affordable rate; requiring
   32         the Office of Economic and Demographic Research to
   33         publish the rate; amending s. 420.6075, F.S.;
   34         requiring the Shimberg Center for Affordable Housing
   35         Studies to include certain recommendations relating to
   36         affordable housing rental needs in its annual report;
   37         amending s. 420.622, F.S.; requiring the State Office
   38         on Homelessness to coordinate certain entities for a
   39         specified purpose; amending s. 1003.21, F.S.;
   40         specifying that free public education required to be
   41         provided to certain children and youths must include
   42         certain programs; providing an effective date.
   44  Be It Enacted by the Legislature of the State of Florida:
   46         Section 1. Section 212.0975, Florida Statutes, is created
   47  to read:
   48         212.0975Homeless Youth Employment Tax Credit Program.—
   49         (1)As used in this section, the term:
   50         (a)“Eligible business” means any sole proprietorship,
   51  firm, partnership, or corporation. Commonly owned and controlled
   52  entities are to be considered a single business entity.
   53         (b)“Qualified employee” means any employee who meets the
   54  definition of homeless children and youths in s. 725 of the
   55  McKinney-Vento Homeless Assistance Act, 42 U.S.C. s. 11434a(2),
   56  and performs duties in connection with the operations of the
   57  business on a regular basis for at least 3 months.
   58         (2)An eligible business shall be allowed a credit of 10
   59  percent of any tax due under this chapter if they employ at
   60  least one qualified employee during the taxable year.
   61         (3)(a)In order to claim this credit, an eligible business
   62  must file under oath with the Department of Economic Opportunity
   63  a statement that includes the name and address of the eligible
   64  business, proof that the business employed an eligible employee,
   65  and any other information that the Department of Revenue
   66  requires.
   67         (b)The Department of Economic Opportunity shall review the
   68  application to determine whether it contains all the information
   69  required by this subsection and meets the criteria set out in
   70  this section. The Department of Economic Opportunity shall
   71  approve all applications that contain the information required
   72  by this subsection and meet the criteria set out in this section
   73  as eligible to receive a credit.
   74         Section 2. Section 220.1991, Florida Statutes, is created
   75  to read:
   76         220.1991Tax credits for housing for recent college
   77  graduates.—
   78         (1)As used in this section, the term:
   79         (a)“Affordable rate” means a monthly rental rate that has
   80  been classified as affordable for that year under paragraph
   81  (6)(b).
   82         (b)“Fair market value” means the appraised value of a
   83  dwelling house as stated in an appraisal report, as defined in
   84  s. 475.611.
   85         (c)“Landlord” means the owner, manager, managing agent,
   86  lessor, sublessor, or any agent of such persons or entities, or
   87  other person who has the right to rent, sell, or manage any
   88  housing unit or rental property, and whose primary business for
   89  the purposes of this chapter meets the description of NAICS code
   90  53110.
   91         (d)“Lease option agreement” means a written lease
   92  agreement that grants a recent college graduate the right to
   93  purchase the rental dwelling unit in fee simple at the end of
   94  the lease term.
   95         (e)“Qualified lease agreement” means a written lease
   96  agreement for a dwelling unit made between a landlord and a
   97  recent college graduate for a minimum term of 12 months with an
   98  option for a 12-month renewal.
   99         (f)“Recent college graduate” means a person who has
  100  graduated from a state university, a Florida College System
  101  institution, or an independent college or university in this
  102  state, including a historically black college and university,
  103  within the previous 5 years, calculated from the date the
  104  college graduate enters into a lease with a landlord for a
  105  dwelling unit.
  106         (2)(a)Subject to the limitation of paragraph (c), a
  107  landlord is allowed a tax credit of $500 against any tax imposed
  108  under this chapter for each qualified lease agreement, if such
  109  lease limits rent increases to no more than 5 percent per year
  110  for the duration of the lease.
  111         (b)Subject to the limitation of paragraph (c), a landlord
  112  is allowed an additional tax credit of $1,000 against any tax
  113  imposed under this chapter for each qualified lease agreement at
  114  an affordable rate.
  115         (c)To qualify for the tax credit under this subsection,
  116  the landlord must have entered into 25 or more qualified lease
  117  agreements during the taxable year.
  118         (3)There is allowed an additional tax credit against any
  119  tax imposed under this chapter to the landlord for each year in
  120  which a dwelling unit owned by the landlord is purchased as part
  121  of a lease option agreement for no more than fair market value.
  122  The amount of the tax credit is determined as follows:
  123         (a)If the dwelling unit’s selling price is less than 5
  124  percent below fair market value, the credit shall equal 5
  125  percent of the dwelling unit’s fair market value.
  126         (b)If the dwelling unit’s selling price is 5 percent or
  127  more below fair market value, the credit shall equal 10 percent
  128  of the dwelling unit’s fair market value.
  129         (4)The total amount of tax credits allocated to a landlord
  130  in any one year under this section may not exceed 25 percent of
  131  that landlord’s total tax liability under this chapter.
  132         (5)(a)A tax credit belongs to a landlord and may not be
  133  transferred unless the transferee is also a landlord who would
  134  otherwise meet the criteria for receiving tax credits under this
  135  section.
  136         (b)Before receiving tax credits under this section, a
  137  landlord must affirmatively demonstrate to the satisfaction of
  138  the department that the landlord has met the requirements of
  139  this section.
  140         (6)(a)The department is authorized, and all conditions are
  141  deemed met, to adopt an emergency rule under s. 120.54(4) to
  142  specify the methods by which a landlord’s eligibility for tax
  143  credits under this section is determined.
  144         (b)The department, in consultation with the Shimberg
  145  Center for Affordable Housing Studies at the University of
  146  Florida, shall annually determine the affordable rate.
  147         (c)The Office of Economic and Demographic Research, in
  148  consultation with the department and the Shimberg Center for
  149  Affordable Housing Studies at the University of Florida, shall
  150  publish the affordable rate.
  151         Section 3. Paragraph (d) is added to subsection (2) of
  152  section 420.6075, Florida Statutes, to read:
  153         420.6075 Research and planning for affordable housing;
  154  annual housing report.—
  155         (2) By December 31 of each year, the Shimberg Center for
  156  Affordable Housing Studies shall submit to the Legislature an
  157  updated housing report describing the supply of and need for
  158  affordable housing. This annual housing report shall include:
  159         (d)Recommendations for affordable housing rental needs for
  160  this state.
  161         Section 4. Subsection (11) is added to section 420.622,
  162  Florida Statutes, to read:
  163         420.622 State Office on Homelessness; Council on
  164  Homelessness.—
  165         (11)The State Office on Homelessness will coordinate state
  166  colleges and universities to develop plans and procedures to
  167  give priority access for campus housing to students who would
  168  otherwise be homeless.
  169         Section 5. Paragraph (f) of subsection (1) of section
  170  1003.21, Florida Statutes, is amended to read:
  171         1003.21 School attendance.—
  172         (1)
  173         (f) Children and youths who are experiencing homelessness
  174  and children who are known to the department, as defined in s.
  175  39.0016, must have access to a free public education and must be
  176  admitted to school in the school district in which they or their
  177  families live. School districts shall assist such children in
  178  meeting the requirements of subsection (4) and s. 1003.22, as
  179  well as local requirements for documentation. For the purposes
  180  of this paragraph, free public education includes programs that
  181  allow a youth experiencing homelessness to graduate from high
  182  school.
  183         Section 6. This act shall take effect July 1, 2023.