Senate Bill 1684 (2023) — Youth housing and employment
SB 1684
Florida Bills
Florida Senate - 2023 SB 1684 By Senator Davis 5-01518-23 20231684__ Page 1 of 7 CODING: Words stricken are deletions; words underlined are additions. A bill to be entitled 1
An act relating to youth housing and employment; 2 creating s. 212.0975, F.S.; defining terms; providing 3 a sales tax credit to certain businesses that hire 4 specified employees; requiring such employees be 5 employed for a minimum amount of time; specifying the 6 amount of the tax credit; providing requirements to 7 apply for the tax credit; requiring the Department of 8 Economic Opportunity to review and approve 9 applications that meet specified requirements; 10 creating s. 220.1991, F.S.; defining terms; providing 11 a tax credit against corporate income taxes to 12 landlords who lease dwelling units under specified 13 conditions to recent college graduates; providing an 14 additional credit if the qualified lease agreement is 15 at an affordable rate; specifying a minimum number of 16 qualified lease agreements to qualify for the credit; 17 providing an additional credit if the dwelling unit 18 owned by the landlord is purchased as part of a lease 19 option agreement for no more than fair market value; 20 specifying the amount of such additional credit; 21 specifying a limitation on the amount of credits 22 claimed in any one year; specifying a limitation on a 23 the transfer of credits; requiring a landlord to 24 affirmatively demonstrate to the Department of Revenue 25 that requirements have been met to receive a tax 26 credit; authorizing the department to adopt rules 27 regarding eligibility for tax credits; requiring the 28 department to consult with the Shimberg Center for 29
Florida Senate - 2023 SB 1684 5-01518-23 20231684__ Page 2 of 7 CODING: Words stricken are deletions; words underlined are additions.
Affordable Housing Studies at the University of 30 Florida in determining the affordable rate; requiring 31 the Office of Economic and Demographic Research to 32 publish the rate; amending s. 420.6075, F.S.; 33 requiring the Shimberg Center for Affordable Housing 34 Studies to include certain recommendations relating to 35 affordable housing rental needs in its annual report; 36 amending s. 420.622, F.S.; requiring the State Office 37 on Homelessness to coordinate certain entities for a 38 specified purpose; amending s. 1003.21, F.S.; 39 specifying that free public education required to be 40 provided to certain children and youths must include 41 certain programs; providing an effective date. 42 43 Be It Enacted by the Legislature of the State of Florida: 44 45
Section
Section 212.0975, Florida Statutes, is created 46 to read: 47 212.0975 Homeless Youth Employment Tax Credit Program.— 48
(1) As used in this section, the term: 49 (a) “Eligible business” means any sole proprietorship, 50 firm, partnership, or corporation. Commonly owned and controlled 51 entities are to be considered a single business entity. 52 (b) “Qualified employee” means any employee who meets the 53 definition of homeless children and youths in s. 725 of the 54 McKinney-Vento Homeless Assistance Act, 42 U.S.C. s. 11434a(2), 55 and performs duties in connection with the operations of the 56 business on a regular basis for at least 3 months. 57
(2) An eligible business shall be allowed a credit of 10 58
Florida Senate - 2023 SB 1684 5-01518-23 20231684__ Page 3 of 7 CODING: Words stricken are deletions; words underlined are additions. percent of any tax due under this
chapter if they employ at 59 least one qualified employee during the taxable year. 60 (3)(
a) In order to claim this credit, an eligible business 61 must file under oath with the Department of Economic Opportunity 62 a statement that includes the name and address of the eligible 63 business, proof that the business employed an eligible employee, 64 and any other information that the Department of Revenue 65 requires. 66 (
b) The Department of Economic Opportunity shall review the 67 application to determine whether it contains all the information 68 required by this subsection and meets the criteria set out in 69 this section. The Department of Economic Opportunity shall 70 approve all applications that contain the information required 71 by this subsection and meet the criteria set out in this
section 72 as eligible to receive a credit. 73
Section
Section 220.1991, Florida Statutes, is created 74 to read: 75 220.1991 Tax credits for housing for recent college 76 graduates.— 77
(1) As used in this section, the term: 78 (a) “Affordable rate” means a monthly rental rate that has 79 been classified as affordable for that year under paragraph 80 (6)(b). 81 (b) “Fair market value” means the appraised value of a 82 dwelling house as stated in an appraisal report, as defined in 83 s. 475.611. 84 (c) “Landlord” means the owner, manager, managing agent, 85 lessor, sublessor, or any agent of such persons or entities, or 86 other person who has the right to rent, sell, or manage any 87
Florida Senate - 2023 SB 1684 5-01518-23 20231684__ Page 4 of 7 CODING: Words stricken are deletions; words underlined are additions. housing unit or rental property, and whose primary business for 88 the purposes of this
chapter meets the description of NAICS code 89 53110. 90 (d) “Lease option agreement” means a written lease 91 agreement that grants a recent college graduate the right to 92 purchase the rental dwelling unit in fee simple at the end of 93 the lease term. 94 (e) “Qualified lease agreement” means a written lease 95 agreement for a dwelling unit made between a landlord and a 96 recent college graduate for a minimum term of 12 months with an 97 option for a 12-month renewal. 98 (f) “Recent college graduate” means a person who has 99 graduated from a state university, a Florida College System 100 institution, or an independent college or university in this 101 state, including a historically black college and university, 102 within the previous 5 years, calculated from the date the 103 college graduate enters into a lease with a landlord for a 104 dwelling unit. 105 (2)(
a) Subject to the limitation of paragraph (c), a 106 landlord is allowed a tax credit of $500 against any tax imposed 107 under this
chapter for each qualified lease agreement, if such 108 lease limits rent increases to no more than 5 percent per year 109 for the duration of the lease. 110 (
b) Subject to the limitation of paragraph (c), a landlord 111 is allowed an additional tax credit of $1,000 against any tax 112 imposed under this
chapter for each qualified lease agreement at 113 an affordable rate. 114 (
c) To qualify for the tax credit under this subsection, 115 the landlord must have entered into 25 or more qualified lease 116
Florida Senate - 2023 SB 1684 5-01518-23 20231684__ Page 5 of 7 CODING: Words stricken are deletions; words underlined are additions. agreements during the taxable year. 117
(3) There is allowed an additional tax credit against any 118 tax imposed under this
chapter to the landlord for each year in 119 which a dwelling unit owned by the landlord is purchased as
part 120 of a lease option agreement for no more than fair market value. 121 The amount of the tax credit is determined as follows: 122 (
a) If the dwelling unit’s selling price is less than 5 123 percent below fair market value, the credit shall equal 5 124 percent of the dwelling unit’s fair market value. 125 (
b) If the dwelling unit’s selling price is 5 percent or 126 more below fair market value, the credit shall equal 10 percent 127 of the dwelling unit’s fair market value. 128
(4) The total amount of tax credits allocated to a landlord 129 in any one year under this
section may not exceed 25 percent of 130 that landlord’s total tax liability under this chapter. 131 (5)(
a) A tax credit belongs to a landlord and may not be 132 transferred unless the transferee is also a landlord who would 133 otherwise meet the criteria for receiving tax credits under this 134 section. 135 (
b) Before receiving tax credits under this section, a 136 landlord must affirmatively demonstrate to the satisfaction of 137 the department that the landlord has met the requirements of 138 this section. 139 (6)(
a) The department is authorized, and all conditions are 140 deemed met, to adopt an emergency rule under s. 120.54(4) to 141 specify the methods by which a landlord’s eligibility for tax 142 credits under this
section is determined. 143 (
b) The department, in consultation with the Shimberg 144 Center for Affordable Housing Studies at the University of 145
Florida Senate - 2023 SB 1684 5-01518-23 20231684__ Page 6 of 7 CODING: Words stricken are deletions; words underlined are additions. Florida, shall annually determine the affordable rate. 146 (
c) The Office of Economic and Demographic Research, in 147 consultation with the department and the Shimberg Center for 148 Affordable Housing Studies at the University of Florida, shall 149 publish the affordable rate. 150
Section 3. Paragraph (
d) is added to subsection (2) of 151
section 420.6075, Florida Statutes, to read: 152 420.6075 Research and planning for affordable housing; 153 annual housing report.— 154
(2) By December 31 of each year, the Shimberg Center for 155 Affordable Housing Studies shall submit to the Legislature an 156 updated housing report describing the supply of and need for 157 affordable housing. This annual housing report shall include: 158 (
d) Recommendations for affordable housing rental needs for 159 this state. 160
Section 4. Subsection (11) is added to
section 420.622, 161 Florida Statutes, to read: 162 420.622 State Office on Homelessness; Council on 163 Homelessness.— 164
(11) The State Office on Homelessness will coordinate state 165 colleges and universities to develop plans and procedures to 166 give priority access for campus housing to students who would 167 otherwise be homeless. 168
Section 5. Paragraph (
f) of subsection (1) of
section 169 1003.21, Florida Statutes, is amended to read: 170 1003.21 School attendance.— 171 (1) 172 (
f) Children and youths who are experiencing homelessness 173 and children who are known to the department, as defined in s. 174
Florida Senate - 2023 SB 1684 5-01518-23 20231684__ Page 7 of 7 CODING: Words stricken are deletions; words underlined are additions. 39.0016, must have access to a free public education and must be 175 admitted to school in the school district in which they or their 176 families live. School districts shall assist such children in 177 meeting the requirements of subsection (4) and s. 1003.22, as 178 well as local requirements for documentation. For the purposes 179 of this paragraph, free public education includes programs that 180 allow a youth experiencing homelessness to graduate from high 181 school. 182