Bill Summary

by Davis, Renuart Co Sponsors: Eagle (RESIGNED), Fullwood, Hutson, Pritchett, Raschein CS Sponsors: Economic Affairs Committee, Finance & Tax Subcommittee

Community Development: Revises definition of "qualifying housing development"; revises power of housing finance authority to make loans directly to eligible persons; deletes ad valorem tax exemption for property owned by certain Florida-based limited partnerships & used for affordable housing for certain income-qualified persons; provides for retroactive application; revises powers of Florida Housing Finance Corporation; specifies how corporation will allocate certain funds; revises provisions relating to state apartment incentive loans to provide for competitive evaluation & selection process with respect to loan applications; provides that corporation's strategic business plan must be consistent with long-range program plan relating to affordable housing; deletes requirement that corporation compile certain data; revises provisions relating to corporation's development of long-range plan; revises required contents & information to be included in corporation's annual report; requires corporation to submit separate audited financial statements that include specified information & incorporate certain reports; requires Auditor General to conduct operational audit of corporation & provide written report to Legislature; repeals provisions relating to federal Homeownership & Opportunity for People Everywhere (HOPE) program. Effective Date: July 1, 2013

   H Economic Development & Tourism Subcommittee
   H Finance & Tax Subcommittee
   H Economic Affairs Committee