THE BILL ITSELF
HB 51
Tax Credits for Housing for Homeless Employees
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A bill to be entitled
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An act relating to tax credits for housing for
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homeless employees; creating s. 220.1985, F.S.;
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providing definitions; creating specified tax credits
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for certain businesses that provide housing for
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employees; providing application requirements;
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requiring the Department of Commerce to approve all
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applications that meet specified criteria; requiring
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the department to make certain notifications;
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providing the maximum amount of tax credits that may
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be distributed; requiring such credits be approved by
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the Department of Revenue before use; requiring such
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approval be included with specified returns; requiring
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approval of such credits be done in a specified order;
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authorizing the Department of Commerce and the
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Department of Revenue to adopt rules, including
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emergency rules; authorizing tax credits to be carried
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forward for a specified period; prohibiting tax
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credits from being transferred; providing an effective
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date.
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Be It Enacted by the Legislature of the State of Florida:
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Section 1. Section 220.1985, Florida Statutes, is created
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to read:
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220.1985 Tax credits for employee housing.—
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(1) As used in this section, the term:
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(a) "Converted housing" means property that was sitting
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idle, unoccupied, unused, or abandoned for at least 24 months
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before being rehabilitated to serve as workforce housing.
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(b) "Employee" has the same meaning as established under
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the federal Fair Labor Standards Act and its implementing
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regulations, and includes an apprentice, as defined in s.
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446.021(2), a preapprentice, as defined in s. 446.021(1), or a
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student intern, as defined in s. 220.198(2).
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(c) "Homeless" means a person who:
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1. Meets the definition of homeless as that term is
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defined in the McKinney-Vento Homeless Assistance Act, 42 U.S.C
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s. 11302; or
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2. Is experiencing a temporary state of lacking a
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permanent home due to a sudden crisis or catastrophic event such
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as job loss, a natural disaster, a medical emergency, or
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domestic violence.
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(d) "Qualified business" means a business which provides
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housing for a qualified employee at a rate that does not exceed
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the rent limit specified for the 50 percentage category by the
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most recent multifamily rental programs income and rent limit
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chart posted by the Florida Housing Finance Corporation.
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(e) "Qualified employee" means an employee who was
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homeless immediately before receiving housing from a qualified
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business, and who first received such housing within the
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previous 3 years.
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(2)(a) For taxable years beginning on or after January 1,
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2027, a qualified business is eligible for a credit against the
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tax imposed by this chapter in the amount of $2,000 per
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qualified employee.
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(b) The qualified business is eligible for an additional
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credit against the tax imposed by this chapter in the amount of
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$1,000 per qualified employee if the housing provided by the
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qualified business is converted housing owned by the qualified
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business. The converted housing must meet all building, housing,
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and health codes, as defined in s. 83.43.
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(3)(a) In order to receive a tax credit under this
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section, the qualified business must submit an application to
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the Department of Commerce that identifies the number of
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qualified employees, the location of the provided housing and
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whether such housing is converted housing, the rent charged to
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the qualified employees, and any other information required by
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the department.
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(b) Subject to the provisions of subsection (4), the
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Department of Commerce shall review applications with urgency
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and approve all those determined to:
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1. Contain all the information required by this
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subsection; and
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2. Meet the criteria set out in this section.
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(c) The Department of Commerce shall notify the qualified
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business, in writing, of their decision and, if applicable, the
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maximum credit allowed. The Department of Commerce shall
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transmit a copy of such notification to the Department of
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Revenue.
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(4) The combined total amount of tax credits which may be
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granted to qualified businesses each year under this section is
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$5 million. The Department of Commerce must approve the tax
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credit prior to the taxpayer taking the credit on a return, and
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the return attempting to apply the credit must include a copy of
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such approval. The Department of Commerce must approve credits
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on a first-come, first-served basis.
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(5) The Department of Commerce and the Department of
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Revenue may adopt rules, including emergency rules pursuant to
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s. 120.54(4), governing the manner and form of applications for
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the tax credit and establishing qualification requirements for
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the tax credit. All conditions are deemed met for the adoption
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of emergency rules pursuant to s. 120.54(4).
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(6) A qualified business may carry forward any unused
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portion of a tax credit under this section for up to 2 taxable
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years, but the credit may not be transferred to another entity.
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Section 2. This act shall take effect July 1, 2026.