Died SENATE · SESSION 2026

No. SB 1348

Terminology Associated with the Florida Housing Finance Corporation

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SPONSOR

Calatayud

FILED BY

Alexis Calatayud — District 38, Republican [search donations]

EFFECTIVE

Upon becoming a law

DIED IN

Community Affairs

OFFICIAL RECORD

flsenate.gov/Session/Bill/2026/1348

Filed under Housing.

PROVIDED SUMMARY

Terminology Associated with the Florida Housing Finance Corporation; Revising and providing definitions pertaining to the corporation, etc.

Full bill text →

Plain English Summary

AI-GENERATED

Adds a three-project completion requirement for housing developers.

The bill defines "demonstrated capacity" as completing at least three affordable housing projects in the U.S. within five years.

One of those three projects must have been completed in Florida to satisfy the new definition.

This standard applies to for-profit developers, nonprofits, and community housing development organizations seeking to build or rehabilitate housing.

The change renumbers several existing definitions to accommodate the new terminology and update cross-references.

KEY PROVISIONS

§ 1 New Definition of Demonstrated Capacity majors. 420.503(13)

AIAdds a specific legal standard for proving a housing provider's ability to build or rehabilitate affordable housing.

“"Demonstrated capacity" means the requisite skill, experience, and credit worthiness of a provider of affordable housing projects to successfully construct or rehabilitate” bill text, line 25 →

§ 2 New Definition of Qualifying Principal majors. 420.503(38)

AICreates a new legal category for individuals who must own a minimum stake in a housing entity to be recognized.

“"Qualifying principal" means one or more persons owning at least 25 percent of a legally formed corporation, association, joint venture, or partnership.” bill text, line 46 →

§ 3 Eligible Housing Provider Requirements majors. 420.503(18)

AIRequires for-profit and nonprofit developers to have at least one qualifying principal to be considered eligible.

“"Eligible housing provider" means a for-profit developer or not-for-profit developer or a community housing development organization with at least one qualifying principal” bill text, line 41 →

§ 4 Sponsor Approval Criteria majors. 420.503(43)(a)

AIAdds a requirement that sponsors must have demonstrated capacity to construct or rehabilitate affordable housing.

“(a) Has the demonstrated capacity to construct or rehabilitate affordable housing.” bill text, line 53 →

§ 5 Foster Care Youth Eligibility moderates. 420.628(2)

AIUpdates the statutory cross-reference for young adults leaving the child welfare system to reflect renumbered definitions.

“Young adults who leave the child welfare system meet the definition of eligible persons under ss. 420.503(19) and 420.9071(11)” bill text, line 64 →

TIMELINE

3/13/2026

Died in Community Affairs

1/22/2026

Introduced

1/16/2026

Referred to Community Affairs; Commerce and Tourism; Rules

1/7/2026

Filed

STATUTES IT CHANGES

s. 420.503

+140 / −11

s. 420.628

+4 / −4

s. 420.503

+0 / −0