Florida Senate - 2026                                    SB 1430
       
       
        
       By Senator Wright
       
       
       
       
       
       8-00477C-26                                           20261430__
    1                        A bill to be entitled                      
    2         An act relating to an ad valorem tax exemption for
    3         nonprofit homes for the aged; amending s. 196.1975,
    4         F.S.; revising an eligibility requirement for Florida
    5         limited partnerships applying for ad valorem tax
    6         exemptions for nonprofit homes for the aged; providing
    7         applicability; providing an effective date.
    8          
    9  Be It Enacted by the Legislature of the State of Florida:
   10  
   11         Section 1. Subsection (1) of section 196.1975, Florida
   12  Statutes, is amended to read:
   13         196.1975 Exemption for property used by nonprofit homes for
   14  the aged.—Nonprofit homes for the aged are exempt to the extent
   15  that they meet the following criteria:
   16         (1) The applicant must be a corporation not for profit
   17  under pursuant to chapter 617 or a Florida limited partnership,
   18  the sole general partner of which is either a corporation not
   19  for profit under pursuant to chapter 617 or is wholly owned by a
   20  corporation not for profit under chapter 617 and not licensed
   21  under chapter 429, and the corporation not for profit must have
   22  been exempt as of January 1 of the year for which exemption from
   23  ad valorem property taxes is requested from federal income
   24  taxation by having qualified as an exempt charitable
   25  organization under the provisions of s. 501(c)(3) of the
   26  Internal Revenue Code of 1954 or of the corresponding section of
   27  a subsequently enacted federal revenue act.
   28         Section 2. The amendments made by this act to s.
   29  196.1975(1), Florida Statutes, first apply to the 2027 ad
   30  valorem tax roll.
   31         Section 3. This act shall take effect January 1, 2027.