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Senate Bill 3002

Senate Bill sb3002

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    Florida Senate - 2004                                  SB 3002

    By Senator Bennett





    21-2009-04

  1                      A bill to be entitled

  2         An act relating to affordable housing; creating

  3         s. 193.017, F.S.; providing requirements for

  4         the property appraiser with respect to the

  5         appraisal of property that has received a

  6         low-income housing tax credit; excluding

  7         certain costs from the valuation of the

  8         property; amending s. 212.08, F.S.; increasing

  9         the total amount of tax credits granted under

10         the community contribution tax credit for

11         donations; revising the distribution formula

12         for tax credits for donations made to eligible

13         sponsors for projects that provide housing for

14         low-income or very-low-income households;

15         requiring that tax credits first be granted on

16         a pro rata basis and remaining credits be

17         granted on a first-come, first-served basis;

18         delaying the expiration date of the tax credit

19         program; amending s. 220.03, F.S., relating to

20         the definition of the term "project" for

21         purposes of the Income Tax Code; conforming

22         provisions to changes made by the act; amending

23         s. 220.183, F.S., relating to the community

24         contribution tax credit; increasing the total

25         amount of tax credits; revising eligibility

26         requirements; revising the distribution

27         formula, to conform; amending s. 253.034, F.S.;

28         authorizing surplus state-owned lands to be

29         used for affordable housing; amending s.

30         420.0003, F.S., relating to the State Housing

31         Strategy Act; requiring that the affordable

                                  1

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    Florida Senate - 2004                                  SB 3002
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 1         housing delivery system provide for a variety

 2         of housing options; amending s. 420.507, F.S.;

 3         specifying interest rates for loans by the

 4         Florida Housing Finance Corporation for

 5         projects for the homeless; authorizing the

 6         corporation to take certain actions to avoid

 7         default on certain loans; providing additional

 8         powers and duties of the corporation with

 9         respect to marketing and providing assistance

10         and incentives for financing affordable

11         housing; amending s. 420.5087, F.S.; increasing

12         the amount of loans made under the State

13         Apartment Incentive Loan Program; authorizing

14         the Florida Housing Finance Corporation to take

15         certain actions to avoid default of certain

16         loans and to specify requirements by rule;

17         amending s. 420.5088, F.S., relating to the

18         Florida Homeownership Assistance Program;

19         authorizing the corporation to underwrite

20         certain mortgage loans; amending s. 420.511,

21         F.S.; requiring the corporation to report

22         additional information to the Governor and the

23         Legislature concerning the occupancy rates and

24         report additional information concerning the

25         Florida Affordable Housing Guarantee Program;

26         amending s. 420.517, F.S.; requiring the

27         Florida Housing Finance Corporation to

28         cooperate with state and regional entities to

29         assist in providing housing for low-income

30         residents; requiring the corporation to make

31         certain reports; amending s. 420.9072, F.S.,

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    Florida Senate - 2004                                  SB 3002
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 1         relating to the State Housing Initiatives

 2         Partnership Program; requiring local

 3         governments to retain an advisory committee to

 4         make recommendations for affordable housing

 5         programs; amending s. 420.9075, F.S.; revising

 6         requirements for the maximum sales price of

 7         eligible housing under the program; amending s.

 8         420.9076, F.S.; authorizing additional members

 9         for a local affordable housing advisory

10         committee and providing requirements for

11         membership; requiring the committee to review

12         the affordable housing element of the local

13         comprehensive plan; amending s. 624.5105, F.S.,

14         relating to the community contribution tax

15         credit; conforming provisions to changes made

16         by the act; providing an effective date.

17  

18  Be It Enacted by the Legislature of the State of Florida:

19  

20         Section 1.  Section 193.017, Florida Statutes, is

21  created to read:

22         193.017  Low-income housing tax credit.--Property used

23  for affordable housing which has received a low-income housing

24  tax credit from the Florida Housing Finance Corporation, as

25  authorized by s. 420.5099, shall be assessed under s. 193.011

26  and, consistent with s. 420.5099(5) and (6), pursuant to this

27  section. The property appraiser shall adhere to the

28  appropriate standards of professional appraisal practice for

29  purposes of implementing this section.

30  

31  

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    Florida Senate - 2004                                  SB 3002
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 1         (1)  The tax credits granted and the financing

 2  generated by the tax credits may not be considered as income

 3  to the property.

 4         (2)  The actual rental income from rent-restricted

 5  units in such a property shall be recognized by the property

 6  appraiser.

 7         (3)  Any costs paid for by tax credits and costs paid

 8  for by additional financing proceeds received under chapter

 9  420 may not be included in the valuation of the property.

10         (4)  If an extended low-income housing agreement is

11  filed in the official public records of the county in which

12  the property is located, the agreement, and any recorded

13  amendment or supplement thereto, shall be considered a

14  land-use regulation and a limitation on the highest and best

15  use of the property during the term of the agreement,

16  amendment, or supplement.

17         (5)  Any other evidence of the value of the property

18  shall be considered only in connection with the actual use of

19  the property for affordable housing or as property subject to

20  a low-income housing tax credit.

21         Section 2.  Paragraph (q) of subsection (5) of section

22  212.08, Florida Statutes, is amended to read:

23         212.08  Sales, rental, use, consumption, distribution,

24  and storage tax; specified exemptions.--The sale at retail,

25  the rental, the use, the consumption, the distribution, and

26  the storage to be used or consumed in this state of the

27  following are hereby specifically exempt from the tax imposed

28  by this chapter.

29         (5)  EXEMPTIONS; ACCOUNT OF USE.--

30         (q)  Community contribution tax credit for donations.--

31  

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    Florida Senate - 2004                                  SB 3002
    21-2009-04




 1         1.  Authorization.--Beginning July 1, 2001, persons who

 2  are registered with the department under s. 212.18 to collect

 3  or remit sales or use tax and who make donations to eligible

 4  sponsors are eligible for tax credits against their state

 5  sales and use tax liabilities as provided in this paragraph:

 6         a.  The credit shall be computed as 50 percent of the

 7  person's approved annual community contribution;

 8         b.  The credit shall be granted as a refund against

 9  state sales and use taxes reported on returns and remitted in

10  the 12 months preceding the date of application to the

11  department for the credit as required in sub-subparagraph 3.c.

12  If the annual credit is not fully used through such refund

13  because of insufficient tax payments during the applicable

14  12-month period, the unused amount may be included in an

15  application for a refund made pursuant to sub-subparagraph

16  3.c. in subsequent years against the total tax payments made

17  for such year. Carryover credits may be applied for a 3-year

18  period without regard to any time limitation that would

19  otherwise apply under s. 215.26;

20         c.  No person shall receive more than $200,000 in

21  annual tax credits for all approved community contributions

22  made in any one year;

23         d.  All proposals for the granting of the tax credit

24  shall require the prior approval of the Office of Tourism,

25  Trade, and Economic Development;

26         e.  The total amount of tax credits which may be

27  granted for all programs approved under this paragraph, s.

28  220.183, and s. 624.5105 is $20 $10 million annually; and

29         f.  A person who is eligible to receive the credit

30  provided for in this paragraph, s. 220.183, or s. 624.5105 may

31  

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    Florida Senate - 2004                                  SB 3002
    21-2009-04




 1  receive the credit only under the one section of the person's

 2  choice.

 3         2.  Eligibility requirements.--

 4         a.  A community contribution by a person must be in the

 5  following form:

 6         (I)  Cash or other liquid assets;

 7         (II)  Real property;

 8         (III)  Goods or inventory; or

 9         (IV)  Other physical resources as identified by the

10  Office of Tourism, Trade, and Economic Development.

11         b.  All community contributions must be reserved

12  exclusively for use in a project. As used in this

13  sub-subparagraph, the term "project" means any activity

14  undertaken by an eligible sponsor which is designed to

15  construct, improve, or substantially rehabilitate housing that

16  is affordable to low-income or very-low-income households as

17  defined in s. 420.9071(19) and (28); designed to provide

18  commercial, industrial, or public resources and facilities; or

19  designed to improve entrepreneurial and job-development

20  opportunities for low-income persons. A project may be the

21  investment necessary to increase access to high-speed

22  broadband capability in rural communities with enterprise

23  zones, including projects that result in improvements to

24  communications assets that are owned by a business. A project

25  may include the provision of museum educational programs and

26  materials that are directly related to any project approved

27  between January 1, 1996, and December 31, 1999, and located in

28  an enterprise zone as referenced in s. 290.00675. This

29  paragraph does not preclude projects that propose to construct

30  or rehabilitate housing for low-income or very-low-income

31  households on scattered sites. The Office of Tourism, Trade,

                                  6

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    Florida Senate - 2004                                  SB 3002
    21-2009-04




 1  and Economic Development may reserve up to 50 percent of the

 2  available annual tax credits for housing for very-low-income

 3  households pursuant to s. 420.9071(28) for the first 6 months

 4  of the fiscal year. With respect to housing, contributions may

 5  be used to pay the following eligible low-income and

 6  very-low-income housing-related activities:

 7         (I)  Project development impact and management fees for

 8  low-income or very-low-income housing projects;

 9         (II)  Down payment and closing costs for eligible

10  persons, as defined in s. 420.9071(19) and (28);

11         (III)  Administrative costs, including housing

12  counseling and marketing fees, not to exceed 10 percent of the

13  community contribution, directly related to low-income or

14  very-low-income projects; and

15         (IV)  Removal of liens recorded against residential

16  property by municipal, county, or special district local

17  governments when satisfaction of the lien is a necessary

18  precedent to the transfer of the property to an eligible

19  person, as defined in s. 420.9071(19) and (28), for the

20  purpose of promoting home ownership. Contributions for lien

21  removal must be received from a nonrelated third party.

22         c.  The project must be undertaken by an "eligible

23  sponsor," which includes:

24         (I)  A community action program;

25         (II)  A nonprofit community-based development

26  organization whose mission is the provision of housing for

27  low-income or very-low-income households or increasing

28  entrepreneurial and job-development opportunities for

29  low-income persons;

30         (III)  A neighborhood housing services corporation;

31  

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    Florida Senate - 2004                                  SB 3002
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 1         (IV)  A local housing authority created under chapter

 2  421;

 3         (V)  A community redevelopment agency created under s.

 4  163.356;

 5         (VI)  The Florida Industrial Development Corporation;

 6         (VII)  A historic preservation district agency or

 7  organization;

 8         (VIII)  A regional workforce board;

 9         (IX)  A direct-support organization as provided in s.

10  1009.983;

11         (X)  An enterprise zone development agency created

12  under s. 290.0056;

13         (XI)  A community-based organization incorporated under

14  chapter 617 which is recognized as educational, charitable, or

15  scientific pursuant to s. 501(c)(3) of the Internal Revenue

16  Code and whose bylaws and articles of incorporation include

17  affordable housing, economic development, or community

18  development as the primary mission of the corporation;

19         (XII)  Units of local government;

20         (XIII)  Units of state government; or

21         (XIV)  Any other agency that the Office of Tourism,

22  Trade, and Economic Development designates by rule.

23  

24  In no event may a contributing person have a financial

25  interest in the eligible sponsor.

26         d.  The project must be located in an area designated

27  an enterprise zone or a Front Porch Florida Community pursuant

28  to s. 14.2015(9)(b), unless the project increases access to

29  high-speed broadband capability for rural communities with

30  enterprise zones but is physically located outside the

31  designated rural zone boundaries. Any project designed to

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    Florida Senate - 2004                                  SB 3002
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 1  construct or rehabilitate housing for low-income or

 2  very-low-income households as defined in s. 420.0971(19) and

 3  (28) is exempt from the area requirement of this

 4  sub-subparagraph.

 5         e.(I)  The Office of Tourism, Trade, and Economic

 6  Development shall reserve 80 percent of the available annual

 7  tax credits for donations made to eligible sponsors for

 8  projects that provide housing for low-income or

 9  very-low-income households pursuant to s. 420.9071(19) and

10  (28) for the first 2 months of the fiscal year. If less than

11  80 percent of the annual tax credits for donations made to

12  eligible sponsors for projects for low-income or

13  very-low-income households are approved within the first 2

14  months of the fiscal year, the Office of Tourism, Trade, and

15  Economic Development may approve the balance of approved

16  credits for donations made to eligible sponsors for projects

17  other than those that provide housing for low-income or

18  very-low-income households.

19         (II)  The Office of Tourism, Trade, and Economic

20  Development shall reserve 20 percent of the available annual

21  tax credits for donations made to eligible sponsors for

22  projects other than those that provide housing for low-income

23  or very-low-income households pursuant to s. 420.9071(19) and

24  (28) for the first 2 months of the fiscal year. If less than

25  20 percent of the annual tax credits for donations made to

26  eligible sponsors for projects other than those that provide

27  housing for low-income or very-low-income households are

28  approved within the first 2 months of the fiscal year, the

29  Office of Tourism, Trade, and Economic Development may approve

30  the balance of approved credits for donations made to eligible

31  

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    Florida Senate - 2004                                  SB 3002
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 1  sponsors for projects that provide housing for low-income or

 2  very-low-income households.

 3         (III)  If, during the first 10 business days of the

 4  state fiscal year, tax credit applications are received for

 5  more than 80 percent of available annual tax credits from

 6  eligible sponsors for projects that provide housing for

 7  low-income or very-low-income households, the Office of

 8  Tourism, Trade, and Economic Development shall grant the tax

 9  credits for such applications as follows:

10         (A)  If an eligible sponsor submits five or fewer tax

11  credit applications, the credits shall be granted in full if

12  the tax credit applications are approved and subject to the

13  provisions of sub-sub-subparagraph (I).

14         (B)  If an eligible sponsor submits six or more tax

15  credit applications, the amount of tax credit granted pursuant

16  to sub-sub-sub-subparagraph (A) shall be subtracted from the

17  amount of available tax credits pursuant to

18  sub-sub-subparagraph (I), and the remaining credits shall be

19  granted to each approved tax credit application on a pro rata

20  basis.

21         (C)  If, after the first 2 months of the fiscal year,

22  additional credits become available pursuant to

23  sub-sub-subparagraph (II), the Office of Tourism, Trade, and

24  Economic Development shall grant the tax credits by first

25  increasing the credit of those that received a pro rata

26  reduction and, if there are remaining credits, granting

27  credits to those that applied on or after the 11th business

28  day of the state fiscal year on a first-come, first-served

29  basis.

30         (IV)  If, during the first 10 business days of the

31  state fiscal year, tax credit applications are received for

                                  10

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    Florida Senate - 2004                                  SB 3002
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 1  more than 20 percent of available annual tax credits from

 2  eligible sponsors for projects other than those that provide

 3  housing for low-income or very-low-income households, the

 4  Office of Tourism, Trade, and Economic Development shall grant

 5  the tax credits to each approved tax credit application on a

 6  pro rata basis. If, after the first 2 months of the fiscal

 7  year, additional credits become available pursuant to

 8  sub-sub-subparagraph (I), the Office of Tourism, Trade, and

 9  Economic Development shall grant the tax credits by first

10  increasing the credit of those that received a pro rata

11  reduction and, if there are remaining credits, granting

12  credits to those that applied on or after the 11th business

13  day of the state fiscal year on a first-come, first-served

14  basis.

15         3.  Application requirements.--

16         a.  Any eligible sponsor seeking to participate in this

17  program must submit a proposal to the Office of Tourism,

18  Trade, and Economic Development which sets forth the name of

19  the sponsor, a description of the project, and the area in

20  which the project is located, together with such supporting

21  information as is prescribed by rule. The proposal must also

22  contain a resolution from the local governmental unit in which

23  the project is located certifying that the project is

24  consistent with local plans and regulations.

25         b.  Any person seeking to participate in this program

26  must submit an application for tax credit to the Office of

27  Tourism, Trade, and Economic Development which sets forth the

28  name of the sponsor, a description of the project, and the

29  type, value, and purpose of the contribution. The sponsor

30  shall verify the terms of the application and indicate its

31  receipt of the contribution, which verification must be in

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    Florida Senate - 2004                                  SB 3002
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 1  writing and accompany the application for tax credit. The

 2  person must submit a separate tax credit application to the

 3  office for each individual contribution that it makes to each

 4  individual project.

 5         c.  Any person who has received notification from the

 6  Office of Tourism, Trade, and Economic Development that a tax

 7  credit has been approved must apply to the department to

 8  receive the refund. Application must be made on the form

 9  prescribed for claiming refunds of sales and use taxes and be

10  accompanied by a copy of the notification. A person may submit

11  only one application for refund to the department within any

12  12-month period.

13         4.  Administration.--

14         a.  The Office of Tourism, Trade, and Economic

15  Development may adopt rules pursuant to ss. 120.536(1) and

16  120.54 necessary to administer this paragraph, including rules

17  for the approval or disapproval of proposals by a person.

18         b.  The decision of the Office of Tourism, Trade, and

19  Economic Development must be in writing, and, if approved, the

20  notification shall state the maximum credit allowable to the

21  person. Upon approval, the office shall transmit a copy of the

22  decision to the Department of Revenue.

23         c.  The Office of Tourism, Trade, and Economic

24  Development shall periodically monitor all projects in a

25  manner consistent with available resources to ensure that

26  resources are used in accordance with this paragraph; however,

27  each project must be reviewed at least once every 2 years.

28         d.  The Office of Tourism, Trade, and Economic

29  Development shall, in consultation with the Department of

30  Community Affairs, the Florida Housing Finance Corporation,

31  and the statewide and regional housing and financial

                                  12

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    Florida Senate - 2004                                  SB 3002
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 1  intermediaries, market the availability of the community

 2  contribution tax credit program to community-based

 3  organizations.

 4         5.  Expiration.--This paragraph expires June 30, 2015

 5  2005; however, any accrued credit carryover that is unused on

 6  that date may be used until the expiration of the 3-year

 7  carryover period for such credit.

 8         Section 3.  Paragraph (t) of subsection (1) of section

 9  220.03, Florida Statutes, is amended to read:

10         220.03  Definitions.--

11         (1)  SPECIFIC TERMS.--When used in this code, and when

12  not otherwise distinctly expressed or manifestly incompatible

13  with the intent thereof, the following terms shall have the

14  following meanings:

15         (t)  "Project" means any activity undertaken by an

16  eligible sponsor, as defined in s. 220.183(2)(c), which is

17  designed to construct, improve, or substantially rehabilitate

18  housing that is affordable to low-income or very-low-income

19  households as defined in s. 420.9071(19) and (28); designed to

20  provide commercial, industrial, or public resources and

21  facilities; or designed to improve entrepreneurial and

22  job-development opportunities for low-income persons. A

23  project may be the investment necessary to increase access to

24  high-speed broadband capability in rural communities with

25  enterprise zones, including projects that result in

26  improvements to communications assets that are owned by a

27  business. A project may include the provision of museum

28  educational programs and materials that are directly related

29  to any project approved between January 1, 1996, and December

30  31, 1999, and located in an enterprise zone as referenced in

31  s. 290.00675. This paragraph does not preclude projects that

                                  13

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    Florida Senate - 2004                                  SB 3002
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 1  propose to construct or rehabilitate low-income or

 2  very-low-income housing on scattered sites. The Office of

 3  Tourism, Trade, and Economic Development may reserve up to 50

 4  percent of the available annual tax credits under s. 220.181

 5  for housing for very-low-income households pursuant to s.

 6  420.9071(28) for the first 6 months of the fiscal year. With

 7  respect to housing, contributions may be used to pay the

 8  following eligible project-related activities:

 9         1.  Project development, impact, and management fees

10  for low-income or very-low-income housing projects;

11         2.  Down payment and closing costs for eligible

12  persons, as defined in s. 420.9071(19) and (28);

13         3.  Administrative costs, including housing counseling

14  and marketing fees, not to exceed 10 percent of the community

15  contribution, directly related to low-income or

16  very-low-income projects; and

17         4.  Removal of liens recorded against residential

18  property by municipal, county, or special-district local

19  governments when satisfaction of the lien is a necessary

20  precedent to the transfer of the property to an eligible

21  person, as defined in s. 420.9071(19) and (28), for the

22  purpose of promoting home ownership. Contributions for lien

23  removal must be received from a nonrelated third party.

24  

25  The provisions of this paragraph shall expire and be void on

26  June 30, 2015 2005.

27         Section 4.  Paragraph (c) of subsection (1), paragraph

28  (b) of subsection (2), and subsection (5) of section 220.183,

29  Florida Statutes, are amended to read:

30         220.183  Community contribution tax credit.--

31  

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    Florida Senate - 2004                                  SB 3002
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 1         (1)  AUTHORIZATION TO GRANT COMMUNITY CONTRIBUTION TAX

 2  CREDITS; LIMITATIONS ON INDIVIDUAL CREDITS AND PROGRAM

 3  SPENDING.--

 4         (c)  The total amount of tax credit which may be

 5  granted for all programs approved under this section, s.

 6  212.08(5)(q), and s. 624.5105 is $20 $10 million annually.

 7         (2)  ELIGIBILITY REQUIREMENTS.--

 8         (b)1.  All community contributions must be reserved

 9  exclusively for use in projects as defined in s. 220.03(1)(t).

10         2.  The Office of Tourism, Trade, and Economic

11  Development shall may reserve up to 80 50 percent of the

12  available annual tax credits for donations made to eligible

13  sponsors for projects that provide housing for low-income or

14  very-low-income households pursuant to s. 420.9071(19) and

15  (28) s. 420.9071(28) for the first 6 months of the fiscal

16  year. If less than 80 percent of the annual tax credits for

17  donations made to eligible sponsors for projects for

18  low-income or very-low-income households are approved within

19  the first 2 months of the fiscal year, the Office of Tourism,

20  Trade, and Economic Development may approve the balance of

21  approved credits for donations made to eligible sponsors for

22  projects other than those that provide housing for low-income

23  or very-low-income households.

24         3.  The Office of Tourism, Trade, and Economic

25  Development shall reserve 20 percent of the available annual

26  tax credits for donations made to eligible sponsors for

27  projects other than those that provide housing for low-income

28  or very-low-income households pursuant to s. 420.9071(19) and

29  (28) for the first 2 months of the fiscal year. If less than

30  20 percent of the annual tax credits for donations made to

31  eligible sponsors for projects other than those that provide

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    Florida Senate - 2004                                  SB 3002
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 1  housing for low-income or very-low-income households are

 2  approved within the first 2 months of the fiscal year, the

 3  Office of Tourism, Trade, and Economic Development may approve

 4  the balance of approved credits for donations made to eligible

 5  sponsors for projects that provide housing for low-income or

 6  very-low-income households.

 7         4.  If, during the first 10 business days of the state

 8  fiscal year, tax credit applications are received for more

 9  than 80 percent of available annual tax credits from eligible

10  sponsors for projects that provide housing for low-income or

11  very-low-income households, the Office of Tourism, Trade, and

12  Economic Development shall grant the tax credits for such

13  applications as follows:

14         a.  If an eligible sponsor submits five or fewer tax

15  credit applications, the credits shall be granted in full if

16  the tax credit applications are approved and subject to the

17  provisions of subparagraph 2.

18         b.  If an eligible sponsor submits six or more tax

19  credit applications, the amount of tax credit granted pursuant

20  to sub-subparagraph a. shall be subtracted from the amount of

21  available tax credits pursuant to subparagraph 2., and the

22  remaining credits shall be granted to each approved tax credit

23  application on a pro rata basis.

24         c.  If, after the first 2 months of the fiscal year,

25  additional credits become available pursuant to subparagraph

26  3., the Office of Tourism, Trade, and Economic Development

27  shall grant the tax credits by first increasing the credit of

28  those who received a pro rata reduction and, if there are

29  remaining credits, granting credits to those who applied on or

30  after the 11th business day of the state fiscal year on a

31  first-come, first-served basis.

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    Florida Senate - 2004                                  SB 3002
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 1         5.  If, during the first 10 business days of the state

 2  fiscal year, tax credit applications are received for more

 3  than 20 percent of available annual tax credits from eligible

 4  sponsors for projects other than those that provide housing

 5  for low-income or very-low-income households, the Office of

 6  Tourism, Trade, and Economic Development shall grant the tax

 7  credits to each approved tax credit application on a pro rata

 8  basis. If, after the first 2 months of the fiscal year,

 9  additional credits become available pursuant to subparagraph

10  2., the Office of Tourism, Trade, and Economic Development

11  shall grant the tax credits by first increasing the credit of

12  those that received a pro rata reduction and, if there are

13  remaining credits, granting credits to those that applied on

14  or after the 11th business day of the state fiscal year on a

15  first-come, first-served basis.

16         (5)  EXPIRATION.--The provisions of this section,

17  except paragraph (1)(e), shall expire and be void on June 30,

18  2015 2005.

19         Section 5.  Paragraph (f) of subsection (6) of section

20  253.034, Florida Statutes is amended to read:

21         253.034  State-owned lands; uses.--

22         (6)  The Board of Trustees of the Internal Improvement

23  Trust Fund shall determine which lands, the title to which is

24  vested in the board, may be surplused. For conservation lands,

25  the board shall make a determination that the lands are no

26  longer needed for conservation purposes and may dispose of

27  them by an affirmative vote of at least three members. In the

28  case of a land exchange involving the disposition of

29  conservation lands, the board must determine by an affirmative

30  vote of at least three members that the exchange will result

31  in a net positive conservation benefit. For all other lands,

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 1  the board shall make a determination that the lands are no

 2  longer needed and may dispose of them by an affirmative vote

 3  of at least three members.

 4         (f)  In reviewing lands owned by the board, the council

 5  shall consider whether such lands would be more appropriately

 6  owned or managed by the county or other unit of local

 7  government in which the land is located. The council shall

 8  recommend to the board whether a sale, lease, or other

 9  conveyance to a local government would be in the best

10  interests of the state and local government. The provisions of

11  this paragraph in no way limit the provisions of ss. 253.111

12  and 253.115. Such lands shall be offered to the state, county,

13  or local government for a period of 30 days. Permittable uses

14  for such surplus lands may include public schools; public

15  libraries; fire or law enforcement substations; and

16  governmental, judicial, or recreational centers; and

17  affordable housing. County or local government requests for

18  surplus lands shall be expedited throughout the surplusing

19  process. If the county or local government does not elect to

20  purchase such lands in accordance with s. 253.111, then any

21  surplusing determination involving other governmental agencies

22  shall be made upon the board deciding the best public use of

23  the lands. Surplus properties in which governmental agencies

24  have expressed no interest shall then be available for sale on

25  the private market.

26         Section 6.  Subsection (5) is added to section

27  420.0003, Florida Statutes, to read:

28         420.0003  State housing strategy.--

29         (5)  HOUSING OPTIONS.--The affordable housing delivery

30  system shall provide for a variety of housing options as

31  appropriate, including, but not limited to, single family and

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 1  multifamily housing built according to chapter 553,

 2  manufactured housing as defined in s. 320.01(2)(b), and

 3  housing coordinated with services for special needs

 4  populations.

 5         Section 7.  Subsection (22) of section 420.507, Florida

 6  Statutes, is amended, and subsections (42), (43), (44), and

 7  (45) are added to that section, to read:

 8         420.507  Powers of the corporation.--The corporation

 9  shall have all the powers necessary or convenient to carry out

10  and effectuate the purposes and provisions of this part,

11  including the following powers which are in addition to all

12  other powers granted by other provisions of this part:

13         (22)  To develop and administer the State Apartment

14  Incentive Loan Program. In developing and administering that

15  program, the corporation may:

16         (a)  Make first, second, and other subordinated

17  mortgage loans including variable or fixed rate loans subject

18  to contingent interest for all State Apartment Incentive Loans

19  provided for in this chapter based upon available cash flow of

20  the projects.  The corporation shall make loans exceeding 25

21  percent of project cost available only to nonprofit

22  organizations and public bodies which are able to secure

23  grants, donations of land, or contributions from other sources

24  and to projects meeting the criteria of subparagraph 1.

25  Mortgage loans shall be made available at the following rates

26  of interest:

27         1.  Zero to 3 percent interest for sponsors of projects

28  that maintain an 80 percent occupancy of residents qualifying

29  as farmworkers as defined in s. 420.503(18) or, commercial

30  fishing workers as defined in s. 420.503(5), or the homeless

31  as defined in s. 420.621(4) over the life of the loan.

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 1         2.  Zero to 3 percent interest for projects that

 2  maintain an 80 percent occupancy for the homeless as defined

 3  in s. 420.621(4); however, the board may set the interest rate

 4  based on the pro rata share of homeless occupancy if such

 5  occupancy is less than 80 percent of the units in the

 6  borrower's project.

 7         3.2.  Three to 9 percent interest for sponsors of

 8  projects targeted at populations other than farmworkers,

 9  commercial fishing workers, and the homeless.

10         (b)  Geographically and demographically target the

11  utilization of loans.

12         (c)  Underwrite credit, and reject projects which do

13  not meet the established standards of the corporation.

14         (d)  Negotiate with governing bodies within the state

15  after a loan has been awarded to obtain local government

16  contributions.

17         (e)  Inspect any records of a sponsor at any time

18  during the life of the loan or the agreed period for

19  maintaining the provisions of s. 420.5087.

20         (f)  Establish, by rule, the procedure for evaluating,

21  scoring, and competitively ranking all applications based on

22  the criteria set forth in s. 420.5087(6)(c); determining

23  actual loan amounts; making and servicing loans; and

24  exercising the powers authorized in this subsection.

25         (g)  Establish a loan loss insurance reserve to be used

26  to protect the outstanding program investment in case of a

27  default, deed in lieu of foreclosure, or foreclosure of a

28  program loan.

29         (h)  The corporation may establish procedures by rule

30  whereby it may intervene, negotiate terms, or undertake any

31  actions that are fiscally responsible, maximize returns to the

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 1  state, and are deemed necessary to avoid a default of such

 2  loan.

 3         (42)  To promote single-family home ownership in this

 4  state, develop and implement a marketing plan, in cooperation

 5  with local governments and state and federal agencies, which

 6  includes strategies, such as advertising, home buyer fairs,

 7  and home buyer education.

 8         (43)  To establish by rule a program, not to exceed

 9  $5,000 per home, to match the amount of rents set aside under

10  resident programs that are managed by affordable housing

11  providers participating in the corporation's rental programs

12  in order to provide financial assistance toward the purchase

13  of a home.

14         (44)  To establish by rule a program of incentives for

15  local governments which defer, reduce, or waive impact fees

16  for homes constructed for or sold to persons who qualify for

17  financing under an affordable homeownership program provided

18  by the state or a local government.

19         (45)  To establish by rule requirements for periodic

20  reporting of data, including, but not limited to, financial

21  data, housing market data, data concerning detailed economic

22  and physical occupancy on multifamily projects, and

23  demographic data on all housing financed through corporation

24  programs. The incentives must not exceed 40 percent of any

25  waiver or 20 percent of any deferral, and are limited to

26  $4,000 per home.

27         Section 8.  Subsection (3) and paragraphs (g) and (m)

28  of subsection (6) of section 420.5087, Florida Statutes, are

29  amended to read:

30         420.5087  State Apartment Incentive Loan

31  Program.--There is hereby created the State Apartment

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 1  Incentive Loan Program for the purpose of providing first,

 2  second, or other subordinated mortgage loans or loan

 3  guarantees to sponsors, including for-profit, nonprofit, and

 4  public entities, to provide housing affordable to

 5  very-low-income persons.

 6         (3)  During the first 6 months of loan or loan

 7  guarantee availability, program funds shall be reserved for

 8  use by sponsors who provide the housing set-aside required in

 9  subsection (2) for the tenant groups designated in this

10  subsection. The reservation of funds to each of these groups

11  shall be determined using the most recent statewide

12  very-low-income rental housing market study available at the

13  time of publication of each notice of fund availability

14  required by paragraph (6)(b). The reservation of funds within

15  each notice of fund availability to the tenant groups in

16  paragraphs (a), (b), and (d) may not be less than 10 percent

17  of the funds available at that time. Any increase in funding

18  required to reach the 10-percent minimum shall be taken from

19  the tenant group that has the largest reservation. The

20  reservation of funds within each notice of fund availability

21  to the tenant group in paragraph (c) may not be less than 5

22  percent of the funds available at that time. The tenant groups

23  are:

24         (a)  Commercial fishing workers and farmworkers;

25         (b)  Families;

26         (c)  Persons who are homeless; and

27         (d)  Elderly persons. Ten percent of the amount

28  reserved for the elderly shall be reserved to provide loans to

29  sponsors of housing for the elderly for the purpose of making

30  building preservation, health, or sanitation repairs or

31  improvements which are required by federal, state, or local

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 1  regulation or code, or lifesafety or security-related repairs

 2  or improvements to such housing. Such a loan may not exceed

 3  $500,000 $200,000 per housing community for the elderly. In

 4  order to receive the loan, the sponsor of the housing

 5  community must make a commitment to match at least 15 percent

 6  of the loan amount to pay the cost of such repair or

 7  improvement. The corporation shall establish the rate of

 8  interest on the loan, which may not exceed 3 percent, and the

 9  term of the loan, which may not exceed 15 years. The term of

10  the loan shall be established on the basis of a credit

11  analysis of the applicant. The corporation shall establish, by

12  rule, the procedure and criteria for receiving, evaluating,

13  and competitively ranking all applications for loans under

14  this paragraph.  A loan application must include evidence of

15  the first mortgagee's having reviewed and approved the

16  sponsor's intent to apply for a loan. A nonprofit organization

17  or sponsor may not use the proceeds of the loan to pay for

18  administrative costs, routine maintenance, or new

19  construction.

20         (6)  On all state apartment incentive loans, except

21  loans made to housing communities for the elderly to provide

22  for lifesafety, building preservation, health, sanitation, or

23  security-related repairs or improvements, the following

24  provisions shall apply:

25         (g)  The loan term shall be for a period of not more

26  than 15 years; however, if both a program loan and federal

27  low-income housing tax credits are to be used to assist a

28  project, the corporation may set the loan term for a period

29  commensurate with the investment requirements associated with

30  the tax credit syndication.  The term of the loan may also

31  exceed 15 years if necessary to conform to requirements of the

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 1  Federal National Mortgage Association.  The corporation may

 2  renegotiate and extend the loan in order to extend the

 3  availability of housing for the targeted population.  The term

 4  of a loan may not extend beyond the period for which the

 5  sponsor agrees to provide the housing set-aside required by

 6  subsection (2). The corporation may establish procedures by

 7  rule whereby it may intervene, negotiate terms, or undertake

 8  any actions that are fiscally responsible, maximize returns to

 9  the state, and are deemed necessary to avoid a default of such

10  loan.

11         (m)  Sponsors shall annually certify, according to

12  requirements provided by the corporation by rule, the adjusted

13  gross income of all persons or families qualified under

14  subsection (2) at the time of initial occupancy, who are

15  residing in a project funded by this program. All persons or

16  families qualified under subsection (2) may continue to

17  qualify under subsection (2) in a project funded by this

18  program if the adjusted gross income of those persons or

19  families at the time of annual recertification meets the

20  requirements established in s. 142(d)(3)(B) of the Internal

21  Revenue Code of 1986, as amended. If the annual

22  recertification of persons or families qualifying under

23  subsection (2) results in noncompliance with income occupancy

24  requirements, the next available unit must be rented to a

25  person or family qualifying under subsection (2) in order to

26  ensure continuing compliance of the project.

27         Section 9.  Subsection (1) of section 420.5088, Florida

28  Statutes, is amended to read:

29         420.5088  Florida Homeownership Assistance

30  Program.--There is created the Florida Homeownership

31  Assistance Program for the purpose of assisting low-income

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 1  persons in purchasing a home by reducing the cost of the home

 2  with below-market construction financing, by reducing the

 3  amount of down payment and closing costs paid by the borrower

 4  to a maximum of 5 percent of the purchase price, or by

 5  reducing the monthly payment to an affordable amount for the

 6  purchaser. Loans shall be made available at an interest rate

 7  that does not exceed 3 percent. The balance of any loan is due

 8  at closing if the property is sold or transferred.

 9         (1)  For loans made available pursuant to s.

10  420.507(23)(a)1. or 2.:

11         (a)  The corporation may underwrite and make those

12  mortgage loans through the program to persons or families who

13  have incomes that do not exceed 80 percent of the state or

14  local median income, whichever is greater, adjusted for family

15  size.

16         (b)  The corporation may underwrite and make those

17  mortgage loans available to persons or families for purchase

18  of a home built according to chapter 553 or a manufactured

19  home as defined in s. 320.01(2)(b), if the home is built to

20  the specifications in the federal Manufactured Home

21  Construction and Safety Standard Act, as revised in 1994, and

22  if the land upon which the mobile home is permanently affixed

23  or the home and land are considered real property pursuant to

24  s. 320.015(1).

25         (c)(b)  Loans shall be made available for the term of

26  the first mortgage.

27         (d)(c)  Loans are limited to the lesser of 25 percent

28  of the purchase price of the home or the amount necessary to

29  enable the purchaser to meet credit underwriting criteria.

30         Section 10.  Subsection (3) of section 420.511, Florida

31  Statutes, is amended to read:

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 1         420.511  Business plan; strategic plan; annual

 2  report.--

 3         (3)  The corporation shall submit to the Governor and

 4  the presiding officers of each house of the Legislature,

 5  within 2 months after the end of its fiscal year, a complete

 6  and detailed report setting forth:

 7         (a)  Its operations and accomplishments;

 8         (b)  Its receipts and expenditures during its fiscal

 9  year in accordance with the categories or classifications

10  established by the corporation for its operating and capital

11  outlay purposes;

12         (c)  Its assets and liabilities at the end of its

13  fiscal year and the status of reserve, special, or other

14  funds;

15         (d)  A schedule of its bonds outstanding at the end of

16  its fiscal year, together with a statement of the principal

17  amounts of bonds issued and redeemed during the fiscal year;

18  and

19         (e)  Information relating to the corporation's

20  activities in implementing the provisions of ss. 420.5087 and

21  420.5088.  The report required by this subsection shall

22  include, but not be limited to:

23         1.  The number of people served, delineated by income,

24  age, family size, and racial characteristics.

25         2.  The number of units produced under each program.

26         3.  The average cost of producing units under each

27  program.

28         4.  The average sales price of single-family units

29  financed under s. 420.5088.

30         5.  The average amount of rent charged based on unit

31  size on units financed under s. 420.5087.

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 1         6.  The number of persons in rural communities served

 2  under each program.

 3         7.  The number of farmworkers served under each

 4  program.

 5         8.  The number of homeless persons served under each

 6  program.

 7         9.  The number of elderly persons served under each

 8  program.

 9         10.  The extent to which geographic distribution has

10  been achieved in accordance with the provisions of s.

11  420.5087.

12         11.  The quarterly physical occupancy rate of each

13  multifamily housing project.

14         12.11.  Any other information the corporation deems

15  appropriate; and.

16         (f)  Information relating to the corporation's Florida

17  Affordable Housing Guarantee Program as created by s.

18  420.5092. The report required by this subsection must include,

19  but need not be limited to:

20         1.  The status at the end of the most recently

21  completed fiscal year of the total amount of revenue bonds

22  issued by the corporation under s. 420.5092, the principal and

23  interest due on such bonds for the reporting period, the total

24  amount of such bonds redeemed during the reporting period, and

25  the interest earned by the investment of the funds from such

26  revenue bonds during the reporting period.

27         2.  A list of all stabilized properties guaranteed by

28  the guarantee program at the end of the most recently

29  completed fiscal year, including, the properties by

30  municipality and county, the total number of units

31  constructed, the quarterly occupancy rates expressed as

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 1  percentages for the fiscal year, the total principle and

 2  interest due for the fiscal year, the principle and interest

 3  paid for the fiscal year, and the guarantee program's total

 4  outstanding obligation at the end of the fiscal year.

 5         Section 11.  Section 420.517, Florida Statutes, is

 6  amended to read:

 7         420.517  Coordination of affordable housing and support

 8  services for low-income residents job training coordination.--

 9         (1)  The Florida Housing Finance Corporation shall

10  undertake efforts to provide incentives to developers to build

11  housing that encourages onsite job skills training to enable

12  low-income residents to obtain and maintain meaningful

13  employment. To the extent possible, the corporation shall

14  direct all recipients of state housing funds, including

15  municipalities, to work in cooperation with local and regional

16  Job Training Partnerships Boards to provide training to

17  residents and others who may be making the transition from

18  welfare to the workforce. The corporation shall provide

19  incentives through housing policy and program guidelines to

20  prioritize those developments that encourage workforce

21  training and skills development.

22         (2)  The corporation shall coordinate with state and

23  regional entities, including, but not limited to, the Agency

24  for Workforce Innovation, the Department of Education, the

25  Department of Elderly Affairs, the Department of Children and

26  Family Services, the Department of Veterans' Affairs, the

27  Department of Corrections, and the Department of Juvenile

28  Justice, to provide tenants and providers of affordable

29  housing with information concerning available supportive

30  services, including education, job training, and health and

31  social services. The corporation shall also coordinate with

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 1  state agencies to provide prospective tenants with assistance

 2  in qualifying for affordable housing.

 3         (3)  The corporation shall develop state and regional

 4  partnerships to connect tenants of affordable housing with

 5  supportive services, including, but not limited to, education,

 6  job training, and health and social services in order to

 7  enable low-income residents to live in the most independent

 8  setting possible.

 9         (4)  The corporation shall report on its coordination

10  efforts and accomplishments in the annual report required by

11  s. 420.511(3).

12         Section 12.  Paragraph (a) of subsection (1) of section

13  420.9072, Florida Statutes, is amended to read:

14         420.9072  State Housing Initiatives Partnership

15  Program.--The State Housing Initiatives Partnership Program is

16  created for the purpose of providing funds to counties and

17  eligible municipalities as an incentive for the creation of

18  local housing partnerships, to expand production of and

19  preserve affordable housing, to further the housing element of

20  the local government comprehensive plan specific to affordable

21  housing, and to increase housing-related employment.

22         (1)(a)  In addition to the legislative findings set

23  forth in s. 420.6015, the Legislature finds that affordable

24  housing is most effectively provided by combining available

25  public and private resources to conserve and improve existing

26  housing and provide new housing for very-low-income

27  households, low-income households, and moderate-income

28  households.  The Legislature intends to encourage partnerships

29  in order to secure the benefits of cooperation by the public

30  and private sectors and to reduce the cost of housing for the

31  target group by effectively combining all available resources

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 1  and cost-saving measures.  The Legislature further intends

 2  that local governments achieve this combination of resources

 3  by encouraging active partnerships between government,

 4  lenders, builders and developers, real estate professionals,

 5  advocates for low-income persons, and community groups to

 6  produce affordable housing and provide related services.

 7  Extending the partnership concept to encompass cooperative

 8  efforts among small counties as defined in s. 120.52(17), and

 9  among counties and municipalities is specifically encouraged.

10  Local governments are also intended to establish and retain an

11  affordable housing advisory committee to recommend monetary

12  and nonmonetary incentives for affordable housing as provided

13  in s. 420.9076.

14         Section 13.  Paragraph (c) of subsection (4) of section

15  420.9075, Florida Statutes, is amended to read:

16         420.9075  Local housing assistance plans;

17  partnerships.--

18         (4)  The following criteria apply to awards made to

19  eligible sponsors or eligible persons for the purpose of

20  providing eligible housing:

21         (c)  The sales price or value of new or existing

22  eligible housing may not exceed 90 percent of the average area

23  purchase price in the statistical area in which the eligible

24  housing is located as established by the corporation by rule.

25  A local government may not set maximum sales prices below the

26  amounts established by the corporation. If the limits set by

27  the Federal Housing Administration are lower than those

28  established by the corporation, the limits set by the Federal

29  Housing Administration shall be the maximum. Such average area

30  purchase price may be that calculated for any 12-month period

31  

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 1  beginning not earlier than the fourth calendar year prior to

 2  the year in which the award occurs.

 3  

 4  If both an award under the local housing assistance plan and

 5  federal low-income housing tax credits are used to assist a

 6  project and there is a conflict between the criteria

 7  prescribed in this subsection and the requirements of s. 42 of

 8  the Internal Revenue Code of 1986, as amended, the county or

 9  eligible municipality may resolve the conflict by giving

10  precedence to the requirements of s. 42 of the Internal

11  Revenue Code of 1986, as amended, in lieu of following the

12  criteria prescribed in this subsection with the exception of

13  paragraphs (a) and (d) of this subsection.

14         Section 14.  Section 420.9076, Florida Statutes, is

15  amended to read:

16         420.9076  Adoption of affordable housing incentive

17  strategies; committees.--

18         (1)  Each county or eligible municipality participating

19  in the State Housing Initiatives Partnership Program,

20  including a municipality receiving program funds through the

21  county, or an eligible municipality must, within 12 months

22  after the original adoption of the local housing assistance

23  plan, amend the plan to include local housing incentive

24  strategies as defined in s. 420.9071(16).

25         (2)  The governing board of a county or municipality

26  shall appoint the members of the affordable housing advisory

27  committee by resolution. Pursuant to the terms of any

28  interlocal agreement, a county and municipality may create and

29  jointly appoint an advisory committee to prepare a joint plan.

30  The ordinance adopted pursuant to s. 420.9072 which creates

31  the advisory committee or the resolution appointing the

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 1  advisory committee members must provide for a minimum of nine

 2  committee members and their terms. The committee must include:

 3         (a)  One citizen who is actively engaged in the

 4  residential home building industry in connection with

 5  affordable housing.

 6         (b)  One citizen who is actively engaged in the banking

 7  or mortgage banking industry in connection with affordable

 8  housing.

 9         (c)  One citizen who is a representative of those areas

10  of labor actively engaged in home building in connection with

11  affordable housing.

12         (d)  One citizen who is actively engaged as an advocate

13  for low-income persons in connection with affordable housing.

14         (e)  One citizen who is actively engaged as a

15  for-profit provider of affordable housing.

16         (f)  One citizen who is actively engaged as a

17  not-for-profit provider of affordable housing.

18         (g)  One citizen who is actively engaged as a real

19  estate professional in connection with affordable housing.

20         (h)  One citizen who actively serves on the local

21  planning agency pursuant to s. 163.3174.

22         (i)  One citizen who resides within the jurisdiction of

23  the local governing body making the appointments.

24  

25  Any additional committee members must be residents of the

26  jurisdiction of the local governing body making the

27  appointments. If a county or eligible municipality whether due

28  to its small size, the presence of a conflict of interest by

29  prospective appointees, or other reasonable factor, is unable

30  to appoint a citizen actively engaged in these activities in

31  connection with affordable housing, a citizen engaged in the

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 1  activity without regard to affordable housing may be

 2  appointed.

 3         (3)  Each county or eligible municipality participating

 4  in the State Housing Initiatives Partnership Program must

 5  maintain an operational affordable housing advisory committee.

 6         (4)(3)  All meetings of the advisory committee are

 7  public meetings, and all committee records are public records.

 8  Staff, administrative, and facility support to the advisory

 9  committee shall be provided by the appointing county or

10  eligible municipality.

11         (5)(4)  The advisory committee shall review the

12  established policies and procedures, ordinances, land

13  development regulations, and adopted local government

14  comprehensive plan of the appointing local government and

15  shall recommend specific initiatives to encourage or

16  facilitate affordable housing while protecting the ability of

17  the property to appreciate in value. Such recommendations may

18  include the modification or repeal of existing policies,

19  procedures, ordinances, regulations, or plan provisions; the

20  creation of exceptions applicable to affordable housing; or

21  the adoption of new policies, procedures, regulations,

22  ordinances, or plan provisions.  At a minimum, each advisory

23  committee shall make recommendations on affordable housing

24  incentives in the following areas:

25         (a)  The processing of approvals of development orders

26  or permits, as defined in s. 163.3164(7) and (8), for

27  affordable housing projects is expedited to a greater degree

28  than other projects.

29         (b)  The modification of impact-fee requirements,

30  including reduction or waiver of fees and alternative methods

31  of fee payment for affordable housing.

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 1         (c)  The allowance of increased density levels for

 2  affordable housing.

 3         (d)  The reservation of infrastructure capacity for

 4  housing for very-low-income persons and low-income persons.

 5         (e)  The allowance of affordable accessory residential

 6  units in residential zoning districts.

 7         (f)  The reduction of parking and setback requirements

 8  for affordable housing.

 9         (g)  The allowance of zero-lot-line configurations for

10  affordable housing.

11         (h)  The modification of street requirements for

12  affordable housing.

13         (i)  The establishment of a process by which a local

14  government considers, before adoption, policies, procedures,

15  ordinances, regulations, or plan provisions that increase the

16  cost of housing.

17         (j)  The preparation of a printed inventory of locally

18  owned public lands suitable for affordable housing.

19         (k)  The review of the local affordable housing element

20  of the local government comprehensive plan pursuant to chapter

21  163 and the local housing assistance plan.

22  

23  The advisory committee recommendations must also include other

24  affordable housing incentives identified by the advisory

25  committee. The advisory committee shall act as a liaison

26  between local governing councils and commissions and the

27  public.

28         (6)(5)  The approval by the advisory committee of its

29  local housing incentive strategies recommendations must be

30  made by affirmative vote of a majority of the membership of

31  the advisory committee taken at a public hearing.  Notice of

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 1  the time, date, and place of the public hearing of the

 2  advisory committee to adopt final local housing incentive

 3  strategies recommendations must be published in a newspaper of

 4  general paid circulation in the county. Such notice must

 5  contain a short and concise summary of the local housing

 6  incentives strategies recommendations to be considered by the

 7  advisory committee. The notice must state the public place

 8  where a copy of the tentative advisory committee

 9  recommendations can be obtained by interested persons.

10         (7)(6)  Within 90 days after the date of receipt of the

11  local housing incentive strategies recommendations from the

12  advisory committee, the governing body of the appointing local

13  government shall adopt an amendment to its local housing

14  assistance plan to incorporate the local housing incentive

15  strategies it will implement within its jurisdiction.  The

16  amendment must include, at a minimum, the local housing

17  incentive strategies as defined in s. 420.9071(16).

18         (8)(7)  The governing board of the county or the

19  eligible municipality shall notify the corporation by

20  certified mail of its adoption of an amendment of its local

21  housing assistance plan to incorporate local housing incentive

22  strategies.  The notice must include a copy of the approved

23  amended plan.

24         (a)  If the corporation fails to receive timely the

25  approved amended local housing assistance plan to incorporate

26  local housing incentive strategies, a notice of termination of

27  its share of the local housing distribution shall be sent by

28  certified mail by the corporation to the affected county or

29  eligible municipality. The notice of termination must specify

30  a date of termination of the funding if the affected county or

31  eligible municipality has not adopted an amended local housing

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 1  assistance plan to incorporate local housing incentive

 2  strategies.  If the county or the eligible municipality has

 3  not adopted an amended local housing assistance plan to

 4  incorporate local housing incentive strategies by the

 5  termination date specified in the notice of termination, the

 6  local distribution share terminates; and any uncommitted local

 7  distribution funds held by the affected county or eligible

 8  municipality in its local housing assistance trust fund shall

 9  be transferred to the Local Government Housing Trust Fund to

10  the credit of the corporation to administer the local

11  government housing program pursuant to s. 420.9078.

12         (b)  If a county fails to timely adopt an amended local

13  housing assistance plan to incorporate local housing incentive

14  strategies but an eligible municipality receiving a local

15  housing distribution pursuant to an interlocal agreement

16  within the county does timely adopt an amended local housing

17  assistance plan to incorporate local housing incentive

18  strategies, the corporation, after receipt of a notice of

19  termination, shall thereafter distribute directly to the

20  participating eligible municipality its share calculated in

21  the manner provided in s. 420.9072.

22         (c)  Any county or eligible municipality whose local

23  distribution share has been terminated may subsequently elect

24  to receive directly its local distribution share by adopting

25  an amended local housing assistance plan to incorporate local

26  housing incentive strategies in the manner and according to

27  the procedure provided in this section and by adopting an

28  ordinance in the manner required in s. 420.9072.

29         Section 15.  Paragraph (c) of subsection (1) and

30  subsections (2) and (6) of section 624.5105, Florida Statutes,

31  are amended to read:

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 1         624.5105  Community contribution tax credit;

 2  authorization; limitations; eligibility and application

 3  requirements; administration; definitions; expiration.--

 4         (1)  AUTHORIZATION TO GRANT TAX CREDITS; LIMITATIONS.--

 5         (c)  The total amount of tax credit which may be

 6  granted for all programs approved under this section and s.

 7  220.183 is $20 $10 million annually.

 8         (2)  ELIGIBILITY REQUIREMENTS.--

 9         (a)  Each community contribution by an insurer must be

10  in a form specified in subsection (5).

11         (b)  Each community contribution must be reserved

12  exclusively for use in a project as defined in s.

13  220.03(1)(t).

14         (c)  The project must be undertaken by an "eligible

15  sponsor," as defined in s. 220.183(2)(c). In no event shall a

16  contributing insurer have a financial interest in the eligible

17  sponsor.

18         (d)  The project shall be located in an area designated

19  as an enterprise zone or a Front Porch Community pursuant to

20  s. 14.2015(9)(b).  Any project designed to construct or

21  rehabilitate housing for low-income or very-low-income

22  households as defined in s. 420.9071(19) and (28) is exempt

23  from the area requirement of this paragraph.

24         (e)1.  The Office of Tourism, Trade, and Economic

25  Development shall reserve 80 percent of the available annual

26  tax credits for donations made to eligible sponsors for

27  projects that provide housing for low-income or

28  very-low-income households pursuant to s. 420.9071(19) and

29  (28) for the first 2 months of the fiscal year. If less than

30  80 percent of the annual tax credits for donations made to

31  eligible sponsors for projects for low-income or

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 1  very-low-income households are approved within the first 2

 2  months of the fiscal year, the Office of Tourism, Trade, and

 3  Economic Development may approve the balance of approved

 4  credits for donations made to eligible sponsors for projects

 5  other than those that provide housing for low-income or

 6  very-low-income households.

 7         2.  The Office of Tourism, Trade, and Economic

 8  Development shall reserve 20 percent of the available annual

 9  tax credits for donations made to eligible sponsors for

10  projects other than those that provide housing for low-income

11  or very-low-income households pursuant to s. 420.9071(19) and

12  (28) for the first 2 months of the fiscal year. If less than

13  20 percent of the annual tax credits for donations made to

14  eligible sponsors for projects other than those that provide

15  housing for low-income or very-low-income households are

16  approved within the first 2 months of the fiscal year, the

17  Office of Tourism, Trade, and Economic Development may approve

18  the balance of approved credits for donations made to eligible

19  sponsors for projects that provide housing for low-income or

20  very-low-income households.

21         3.  If, during the first 10 business days of the state

22  fiscal year, tax credit applications are received for more

23  than 80 percent of available annual tax credits from eligible

24  sponsors for projects that provide housing for low-income or

25  very-low-income households, the Office of Tourism, Trade, and

26  Economic Development shall grant the tax credits for such

27  applications as follows:

28         a.  If an eligible sponsor submits five or fewer tax

29  credit applications, the credits shall be granted in full if

30  the tax credit applications are approved and subject to the

31  provisions of subparagraph 1.

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 1         b.  If an eligible sponsor submits six or more tax

 2  credit applications, the amount of tax credit granted pursuant

 3  to sub-subparagraph a. shall be subtracted from the amount of

 4  available tax credits pursuant to subparagraph 1., and the

 5  remaining credits shall be granted to each approved tax credit

 6  application on a pro rata basis.

 7         c.  If, after the first 2 months of the fiscal year,

 8  additional credits become available pursuant to subparagraph

 9  2., the Office of Tourism, Trade, and Economic Development

10  shall grant the tax credits by first increasing the credit of

11  those that received a pro rata reduction and, if there are

12  remaining credits, granting credits to those that applied on

13  or after the 11th business day of the state fiscal year on a

14  first-come, first-served basis.

15         4.  If, during the first 10 business days of the state

16  fiscal year, tax credit applications are received for more

17  than 20 percent of available annual tax credits from eligible

18  sponsors for projects other than those that provide housing

19  for low-income or very-low-income households, the Office of

20  Tourism, Trade, and Economic Development shall grant the tax

21  credits to each approved tax credit application on a pro rata

22  basis. If, after the first 2 months of the fiscal year,

23  additional credits become available pursuant to subparagraph

24  1., the Office of Tourism, Trade, and Economic Development

25  shall grant the tax credits by first increasing the credit of

26  those that received a pro rata reduction and, if there are

27  remaining credits, granting credits to those that applied on

28  or after the 11th business day of the state fiscal year on a

29  first-come, first-served basis.

30  

31  

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 1         (6)  EXPIRATION.--The provisions of this section,

 2  except paragraph (1)(e), shall expire and be void on June 30,

 3  2015 2005.

 4         Section 16.  This act shall take effect upon becoming a

 5  law.

 6  

 7            *****************************************

 8                          SENATE SUMMARY

 9    Revises various provisions relating to affordable housing
      programs. Increases from $10 million to $20 million the
10    total annual amount of tax credits which may be granted
      under the community contribution tax credit program and
11    revises the distribution formula for tax credits for
      donations made to eligible sponsors for projects that
12    provide housing for low-income or very-low-income
      households. Delays the expiration date of the program
13    until 2015. Revises various duties of the Florida Housing
      Finance Corporation with respect to providing
14    low-interest-rate loans and providing assistance and
      incentives for financing affordable housing. Revises
15    certain requirements for local governments under the
      State Housing Initiatives Partnership Program. Provides a
16    maximum sales price for housing under the program. (See
      bill for details.)
17  

18  

19  

20  

21  

22  

23  

24  

25  

26  

27  

28  

29  

30  

31  

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