SB 934 — Areas of Critical State Concern

Florida Senate - 2026 CS for SB 934 By Senatorthe RodriguezCommittee 40-01209-26on 2026934__Community AAffairs; bill to be entitled An act relating to areas of critical state concern;

and Senator Rodriguez 578-02728-26 2026934c1 A bill to be entitled An act relating to areas of critical state concern;

196.1978, F.S.;

revising criteria for certain portions of property used to provide affordable housing to be eligible for an ad valorem tax exemption;

amending s.

Paragraph (b) of subsection (3) of section 196.1978, Florida Statutes, is amended to read:

196.1978 Affordable housing property exemption.— (3) (b) Notwithstanding ss.

196.195 and 196.196, portions of property in a multifamily project are considered property used for a charitable purpose and are eligible to receive an ad valorem property tax exemption if such portions meet all of the following conditions:

1.

Provide affordable housing to natural persons or families meeting the income limitations provided in paragraph (d).

2.a.

Are within a newly constructed multifamily project Page 1 of 4 CODING:

Words stricken are deletions;

words underlined are additions.

Florida Senate - 2026 SB 934 40-01209-26 2026934__ that contains more than 70 units dedicated to housing natural persons or families meeting the income limitations provided in paragraph (d);

or b.

One or more units are located within a newly constructed multifamily project in an area of critical state concern, as designated by s.

380.0552 or chapter 28-36, Florida Administrative Code, and are which contains more than 10 units dedicated to housing natural persons or families meeting the income limitations provided in paragraph (d).

3.

Are rented for an amount that does not exceed the amount as specified by the most recent multifamily rental programs income and rent limit chart posted by the corporation and derived from the Multifamily Tax Subsidy Projects Income Limits published by the United States Department of Housing and Urban Development or 90 percent of the fair market value rent as determined by a rental market study meeting the requirements of paragraph (l), whichever is less.

Section 2.

action by claimants.— (1) A person entering into a formal contract with the state or any county, city, or political subdivision thereof, or other public authority or private entity, for the construction of a public building, for the prosecution and completion of a public work, or for repairs upon a public building or public work shall be required, before commencing the work or before recommencing the work after a default or abandonment, to execute and record in the public records of the county where the improvement is Pagelocated, 2a ofpayment 4and CODING:performance bond with a surety insurer authorized to do business in this state as surety.

A public entity may not require a contractor to secure a surety bond under this section from a specific agent or bonding company.

(h) A person may be exempted from executing the payment and Page 1 of 3 CODING:

Florida Senate - 2026 CS for SB 934 40-01209-26578-02728-26 2026934__2026934c1 located, a payment and performance bond withrequired aunder suretythis insurersubsection authorizedif tothe dofollowing businessconditions inare thismet: state as surety.

A public entity may not require a contractor to secure a surety bond under this section from a specific agent or bonding company.

(h) A person may be exempted from executing the payment and performance bond required under this subsection if the following conditions are met:

Section 3.2.

Page(b) 3Thirty-five percent to the Department of 4Environmental CODING:Protection for the acquisition of lands and capital project expenditures described in this section.

Of the proceeds distributed pursuant to this paragraph, it is the intent of the Legislature that an increased priority be given to those Page 2 of 3 CODING:

Florida Senate - 2026 CS for SB 934 40-01209-26578-02728-26 2026934__2026934c1 (b)acquisitions Thirty-fivewhich percentachieve toa thecombination Department of Environmentalconservation Protectiongoals, forincluding theprotecting acquisitionFlorida’s ofwater landsresources and capitalnatural projectgroundwater expendituresrecharge. described in this section.

Of the proceeds distributed pursuant to this paragraph, it is the intent of the Legislature that an increased priority be given to those acquisitions which achieve a combination of conservation goals, including protecting Florida’s water resources and natural groundwater recharge.

Section 4.3.

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