Florida SB 1350: Taxation of Indigenous Products

Bill Text

1350 
Affordable Housing Property Tax Exemptions 
2026-01-07T09:01:43Z 
Defining the term “LURA”; revising conditions under which multifamily projects are considered property used for a charitable purpose and are eligible to receive an ad valorem property tax exemption; revising the list of units in multifamily projects which property appraisers are required to exempt; providing that certain annual compliance reports and statements from the Florida Housing Finance Corporation are presumptive evidence that certain properties meet certain limitations, etc. 
Original Filed Version 
2026 
S 
2026-07-01T00:00:00Z 
GB 
General Bill 
__ 

 Florida Senate - 2026 SB 1350 

 By Senator McClain 

 9-01090A-26 20261350__ 
 1 A bill to be entitled 
 2 An act relating to affordable housing property tax 
 3 exemptions; amending s. 196.1978, F.S.; defining the 
 4 term “LURA”; revising the definition of the term 
 5 “newly constructed”; revising conditions under which 
 6 multifamily projects are considered property used for 
 7 a charitable purpose and are eligible to receive an ad 
 8 valorem property tax exemption; revising the list of 
 9 units in multifamily projects which property 
 10 appraisers are required to exempt; providing that 
 11 certain annual compliance reports and statements from 
 12 the Florida Housing Finance Corporation are 
 13 presumptive evidence that certain properties meet 
 14 certain limitations; authorizing production of the 
 15 annual compliance report by certain entities; 
 16 requiring the corporation to review and approve annual 
 17 compliance reports; requiring that certain property 
 18 owners receive a specified statement from the 
 19 corporation upon approval of the compliance report; 
 20 specifying that certain portions of property are 
 21 presumed eligible for a specified certification notice 
 22 upon submission of a certain agreement to the 
 23 corporation; authorizing certain owners of property to 
 24 submit a request to the corporation for a 
 25 certification notice at a specified time; authorizing 
 26 such owners to specify in the request for 
 27 certification notice the rent amount that will be 
 28 charged instead of certain required information; 
 29 authorizing such owners to submit a LURA instead of 
 30 certain required information; requiring property 
 31 appraisers to issue verification letters to property 
 32 owners under certain conditions; specifying 
 33 requirements for site plans; requiring property 
 34 appraisers to issue verification letters or provide 
 35 the reasons for ineligibility under certain 
 36 circumstances; providing that projects that have 
 37 received verification letters are exempt from a 
 38 specified ordinance; providing that property in 
 39 multifamily projects is eligible to receive an 
 40 exemption under certain circumstances; revising 
 41 requirements for taxing authorities electing not to 
 42 exempt certain property; authorizing property in 
 43 multifamily projects to receive a tax exemption under 
 44 certain circumstances; authorizing the Department of 
 45 Revenue to adopt emergency rules; providing that such 
 46 rules are effective for a specified timeframe and may 
 47 be renewed under certain conditions; providing for 
 48 expiration of such authority; providing applicability; 
 49 amending s. 420.6075, F.S.; revising the date by which 
 50 the Shimberg Center for Housing Studies must submit a 
 51 certain report to the Legislature; providing an 
 52 effective date. 
 53 
 54 Be It Enacted by the Legislature of the State of Florida: 
 55 
 56 Section 1. Present paragraphs (n) and (o) of subsection (3) 
 57 of section 196.1978, Florida Statutes, are redesignated as 
 58 paragraphs (p) and (q), respectively, new paragraphs (n) and (o) 
 59 are added to that subsection, and paragraphs (a), (b), (d), (e), 
 60 (f), and (l) and present paragraph (o) of that subsection are 
 61 amended, to read: 
 62 196.1978 Affordable housing property exemption.— 
 63 (3)(a) As used in this subsection, the term: 
 64 1. “Corporation” means the Florida Housing Finance 
 65 Corporation. 
 66 2. “LURA” means a land use restriction agreement with a 
 67 term of not less than 3 years, recorded in the official records 
 68 of the county in which the property is located, which requires 
 69 that the property be used to provide housing to natural persons 
 70 or families meeting the definition of extremely-low-income, 
 71 very-low-income, low-income, or moderate-income persons as 
 72 provided in s. 420.0004. 
 73 3. “Newly constructed” means an improvement to real 
 74 property which was substantially completed within 2 5 years 
 75 before the date of an applicant’s first submission of a request 
 76 for a certification notice pursuant to this subsection. 
 77 4.3. “Substantially completed” has the same meaning as in 
 78 s. 192.042(1). 
 79 (b) Notwithstanding ss. 196.195 and 196.196, portions of 
 80 property in a multifamily project are