Reworked Affordable Housing Legislation Passes Both Chambers

The legislature passed an amended version of its affordable housing and resiliency plan. SB 2512 passed the Senate ( 25-14) on April 7 and the House ( 78-38) on April 8. The Sadowski Affordable Housing Trust Fund will receive approximately $200 million from documentary stamp taxes this year. About half of the revenue that would have previously been available for affordable housing will be protected from future sweeps. This is an improvement over an earlier proposal that redirected two-thirds of funds designated for affordable housing to resiliency efforts. However, the FCCB has long supported full funding of the Affordable Housing Trust Fund. Sea-level rise initiatives and sewage treatment projects will each receive approximately $111.7 million under the revised plan. SB 2512 will go next to Governor DeSantis for his signature.