Proposal Would Decrease Funds Intended for Affordable Housing

On March 25, the House Agriculture & Natural Resources Appropriations Subcommittee passed a proposal (9-5) to redirect two-thirds of documentary stamp taxes designated for the Sadowski Affordable Housing Trust Fund to address sea-level rise and upgrade sewage treatment. HB 5401 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. Decent, safe, and affordable housing is a human right. Tens of thousands of Floridians were homeless and over 1 million Floridians spent more than 50% of their income for housing before the pandemic. With the loss of jobs and reduction in income that so many Floridians have experienced in the last year, this is not the time to significantly decrease affordable housing dollars. FCCB supports full funding of the affordable housing trust fund, which was passed by the House last session and what Governor DeSantis has proposed every session during his term.