Florida Senate - 2026                                    SB 1520
       
       
        
       By Senator Calatayud
       
       
       
       
       
       38-01062B-26                                          20261520__
    1                        A bill to be entitled                      
    2         An act relating to the affordable housing property tax
    3         exemption; amending s. 196.1978, F.S.; revising a
    4         specified finding that a taxing authority must make in
    5         order to elect not to exempt certain property from
    6         certain ad valorem taxation; authorizing certain
    7         property owners in a multifamily project to apply for
    8         and continue to receive an exemption; providing
    9         applicability; providing an effective date.
   10          
   11  Be It Enacted by the Legislature of the State of Florida:
   12  
   13         Section 1. Paragraph (o) of subsection (3) of section
   14  196.1978, Florida Statutes, is amended to read:
   15         196.1978 Affordable housing property exemption.—
   16         (3)
   17         (o)1. Beginning with the 2025 tax roll, a taxing authority
   18  may elect, upon adoption of an ordinance or resolution approved
   19  by a two-thirds vote of the governing body, not to exempt
   20  property under sub-subparagraph (d)1.a. located in a county
   21  specified pursuant to subparagraph 2., subject to the conditions
   22  of this paragraph.
   23         2. A taxing authority must make a finding in the ordinance
   24  or resolution that annual housing reports the most recently
   25  published by the Shimberg Center for Housing Studies Annual
   26  Report, prepared pursuant to s. 420.6075, identify identifies
   27  that a county that is part of the jurisdiction of the taxing
   28  authority is within a metropolitan statistical area or region
   29  where, for each of the previous 3 years, the number of
   30  affordable and available units in the metropolitan statistical
   31  area or region is greater than the number of renter households
   32  in the metropolitan statistical area or region for the category
   33  entitled “0-120 percent AMI.”
   34         3. An election made pursuant to this paragraph may apply
   35  only to the ad valorem property tax levies imposed within a
   36  county specified pursuant to subparagraph 2. by the taxing
   37  authority making the election.
   38         4. The ordinance or resolution must take effect on the
   39  January 1 immediately succeeding adoption and shall expire on
   40  the second January 1 after the January 1 in which the ordinance
   41  or resolution takes effect. The ordinance or resolution may be
   42  renewed prior to its expiration pursuant to this paragraph.
   43         5. The taxing authority proposing to make an election under
   44  this paragraph must advertise the ordinance or resolution or
   45  renewal thereof pursuant to the requirements of s. 50.011(1)
   46  prior to adoption.
   47         6. The taxing authority must provide to the property
   48  appraiser the adopted ordinance or resolution or renewal thereof
   49  by the effective date of the ordinance or resolution or renewal
   50  thereof.
   51         7. Notwithstanding an ordinance or resolution or renewal
   52  thereof adopted pursuant to this paragraph, property in a
   53  multifamily project that received an exemption pursuant to sub
   54  subparagraph (d)1.a. before the adoption or renewal of such
   55  ordinance or resolution may continue to receive such exemption
   56  for each subsequent consecutive year that the same owner or each
   57  successive owner applies for and is granted the exemption.
   58         8. Notwithstanding an ordinance or a resolution or a
   59  renewal thereof adopted pursuant to this paragraph, the owner of
   60  a property in a multifamily project that received a final site
   61  plan approval within 1 year before the adoption of such
   62  ordinance or resolution may apply for and be granted the
   63  exemption under sub-subparagraph (d)1.a. after meeting the
   64  requirements of this subsection and may continue to receive such
   65  exemption for each subsequent consecutive year that the same
   66  owner or each successive owner applies for and is granted the
   67  exemption.
   68         Section 2. The amendments made by this act to s. 196.1978,
   69  Florida Statutes, first apply to the 2027 property tax roll.
   70         Section 3. This act shall take effect July 1, 2026.