PROVIDED SUMMARY
Affordable Housing; Revises upwards length of time that certain rental units must remain affordable in order to qualify for specified zoning variance; requires certain incentives be used for construction of affordable housing; revises downward maximum median income used to determine eligibility for certain tax incentives; specifies that certain taxes do not apply to first-time homebuyers.
Full bill text →
Plain English Summary
AI-GENERATED
Exempts first-time homebuyers from deed and note taxes.
Local governments must now use any zoning incentives granted for affordable housing specifically for its construction, rather than for other purposes.
The required affordability period for rental units to qualify for zoning variances increases from 30 to 50 years.
The income ceiling for certain property tax exemptions drops from 120 percent to 100 percent of the area median income.
First-time homebuyers are exempt from state taxes on deeds and promissory notes used to purchase a principal residence.
KEY PROVISIONS
§ 1
Mandates Affordable Housing Use of Incentives
majors. 125.01055
AICreates a new requirement that all incentives provided under the specified subsection must be used for the construction of affordable housing.
“Any incentives provided under this subsection must be used for the construction of affordable housing.”
bill text, line 39 →
§ 2
Extends Affordable Rental Unit Requirement to 50 Years
majors. 125.01055
AIIncreases the minimum duration that rental units must remain affordable from 30 years to 50 years to qualify for zoning variances.
“for a period of at least 50 years, are affordable as defined in s. 420.0004”
§ 3
Reduces Income Eligibility Threshold for Tax Incentives
majors. 196.1978
AILowers the maximum median income percentage for multifamily projects to qualify for tax incentives from 120 percent to 100 percent.
“greater than 80 percent but not more than 100 percent of the median annual adjusted gross income”
§ 4
Exempts First-Time Homebuyers from Deed and Note Taxes
majors. 201.02
AIExempts first-time homebuyers from taxes on deeds and promissory notes related to the purchase of a principal residence.
“Taxes imposed by this section do not apply to a deed, transfer, or conveyance that transfers or conveys residential property to a first-time homebuyer”
bill text, line 172 →
TIMELINE
3/13/2026
Died in Ways & Means Committee
2/2/2026
Now in Ways & Means Committee
2/2/2026
Referred to Commerce Committee
2/2/2026
Referred to Ways & Means Committee
1/30/2026
1st Reading (Committee Substitute 1)
1/30/2026
Laid on Table under Rule 7.18(a)
1/30/2026
Reported out of Housing, Agriculture & Tourism Subcommittee
1/29/2026
Favorable with CS by Housing, Agriculture & Tourism Subcommittee
1/27/2026
Added to Housing, Agriculture & Tourism Subcommittee agenda
1/13/2026
1st Reading (Original Filed Version)
12/16/2025
Now in Housing, Agriculture & Tourism Subcommittee
12/16/2025
Referred to Commerce Committee
12/16/2025
Referred to Ways & Means Committee
12/16/2025
Referred to Housing, Agriculture & Tourism Subcommittee
10 EARLIER →
STATUTES IT CHANGES
STAFF ANALYSES