Florida Senate Bill (SB) 102, the Live Local Act to Support Economic Development Through Record Funding for Florida’s Affordable Housing Programs

Florida Senate Bill (SB) 102, the Live Local Act to Support Economic Development Through Record Funding for Florida’s Affordable Housing Programs

by | Mar 30, 2023 | News

Governor DeSantis signing SB 102 into law marks a major milestone for affordable housing in Florida, with the bill containing more than $700 million of funding for housing in FY 23-24. This is supplemented by a range of tax incentives designed to encourage further investment in the production of affordable housing.

The Sadowski Funds are a major component of this effort and have been fully funded to ensure there is enough money to put these plans into motion. If necessary, additional general revenue has been set aside to make up any shortfalls from doc stamp collections. Furthermore, an impressive education campaign, headed by the Sadowski Education Effort, was also instrumental in helping get this bill signed into law (Housing Summary of the Original Filed Bill).

The Team at eHousingPlus congratulates everyone who contributed to the successful passage of the State of Florida Live Local Act. We want to convey our gratitude for their hard work and dedication toward championing this historical piece of transformational Affordable Housing legislation.

“We are so proud of our home State! The benefits of this Bill will provide far-reaching homeownership opportunities for many people across the great State of Florida for years to come.” Says Paloma Miranda SVP eHousingPlus/HDS. “Moreover, this down payment assistance is monumental for the affordable housing program and is a testament to the State of Florida’s commitment to homeownership.”

For more information on the Live Local Act and what it means for Affordable Housing in Florida, please click here.

The eHousingPlus Program and Compliance Administration Team