Florida HB 311: Tax Credits for Contributions to Assist Homebuyers

Bill Text

CS/HB 311 2026

CODING: Words stricken are deletions; words underlined are additions.
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S

A bill to be entitled 1
An act relating to tax credits for contributions to 2
assist homebuyers; providing a directive to the 3
Division of Law Revision; creating part VII of ch. 4
420, F.S.; creating s. 420.951, F.S.; defining terms; 5
creating s. 420.952, F.S., authorizing certain 6
taxpayers to receive a tax credit for specified 7
contributions; providing requirements for the use of 8
such credit; requiring a taxpayer to submit a certain 9
application beginning on a specified date; requiring 10
the application include specified information and 11
documentation; authorizing the tax credit to be used 12
against certain taxes; requiring the Department of 13
Revenue to approve applications in a specified manner; 14
providing the maximum amount of credits authorized for 15
specified fiscal years; authorizing unused credits to 16
carryforward for a specified period of time in certain 17
circumstances; prohibiting the sale or transfer of 18
certain tax credits; authorizing the department to 19
adopt rules; providing for future repeal; providing 20
construction; creating s. 220.1856, F.S.; providing a 21
credit against the corporate income tax for certain 22
contributions beginning on a specified date; 23
authorizing the credit on a consolidated return basis 24
under certain circumstances; providing applicability; 25

CS/HB 311 2026

CODING: Words stricken are deletions; words underlined are additions.
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S

amending s. 220.02, F.S.; revising the order in which 26
certain credits are intended to be applied to 27
incorporate changes made by the act; amending s. 28
220.13, F.S.; requiring the addition of the amount 29
taken for a specified credit to taxable income; 30
creating s. 624.51065, F.S.; providing a credit 31
against insurance premium taxes for certain 32
contributions beginning on a specified date; providing 33
construction; providing applicability; authorizing the 34
department to adopt emergency rules; providing for 35
future repeal; providing effective dates. 36
37
Be It Enacted by the Legislature of the State of Florida: 38
Section 1. The Division of Law Revision is directed to 39
create part VIII of chapter 420, Florida Statutes, consisting of 40
ss. 420.951 and 420.952, Florida Statutes, to be entitled 41
"Housing Tax Credits." 42
Section 2. Section 420.951, Florida Statutes, is created 43
to read: 44
420.951 Definitions.—As used in this part, the term: 45
(1) "Department" means the Department of Revenue. 46
(2) "Eligible employee" means a full-time employee who: 47
(a) Has established permanent residency in the state; 48
(b) Is a moderate-income person as that term is defined in 49
s. 420.602; and 50

CS/HB 311 2026

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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S

(c) Has not owned property to which the homestead 51
exemption provided in s. 196.031(1)(a) applied in the 3 calendar 52
years before such purchase. 53
(3) "Eligible expenses" means a down payment or any 54
closing costs related to a qualifying home purchase. 55
(4) "Eligible taxpayer" means a taxpayer as defined in s. 56
220.03(1)(z) or an insurer as defined in s. 624.509(9) who has 57
operated in the state for at least 3 consecutive years. 58
(5) "Employer contribution" means a monetary contribution 59
of at least $1,000 from an employer to its employee pursuant to 60
this part. 61
(6) "Qualifying home purchase" means the purchase of a 62
property by an eligible employee for use as his or her primary 63
residence. 64
(7) "Maximum annual tax credit amount" means, for any 65
state fiscal year, the sum of the amount of tax credits approved 66
under s. 420.952, including tax credits to be taken under s. 67
220.1856 or s. 624.51065, which the department may approve for 68
taxpayers whose taxable years begin on or after January 1 of the 69
calendar year preceding the start of the applicable state fiscal 70
year. 71
(8) "Tax due" means any tax required under chapter 220 or 72
chapter 624. 73
Section 3. Section 420.952, Florida Statutes, is created 74
to read: 75

CS/HB 311 2026

CODING: Words stricken are deletions; words underlined are additions.
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S

420.952 Homebuyer Workforce Tax Credit.— 76
(1) An eligible taxpayer may receive a credit against any 77
tax due, up to $500,000 per taxable year, for 100 percent of an 78
employer contribution to an eligible employee to pay for 79
eligible expenses related to a qualifying home purchase. An 80
eligible taxpayer may not receive more than $5,000 of credit for 81
employer contributions made to a single employee. 82
(2) The credit shall be first applied to the taxable year