Bill Redirecting Affordable Housing Funds Continues to Advance

On March 31, the House Appropriations Committee passed HB 5401 (19-10), which redirects two-thirds of documentary stamp taxes designated for the Sadowski Affordable Housing Trust Fund to address sea-level rise and upgrade sewage treatment. The bill also prohibits the sweeping of the remaining funds into general revenue. FCCB supports protecting affordable housing dollars from being swept, as well as resiliency and infrastructure improvements. However, the new formula would appropriate less money to affordable housing than has been appropriated with previous sweeps. FCCB supports full funding of the affordable housing trust fund, which has been proposed by Governor DeSantis every session during his term, and passed by the House last session. The Senate companion measure, SB 2512, passed the Senate Appropriations Committee (12-8), also on March 31.