The Florida Senate

¹420.9073  Local housing distributions.--

(1)  Distributions calculated in this section shall be disbursed on a monthly basis by the corporation beginning the first day of the month after program approval pursuant to s. 420.9072 Each county's share of the funds to be distributed from the portion of the funds in the Local Government Housing Trust Fund received pursuant to s. 201.15(9) shall be calculated by the corporation for each fiscal year as follows:

(a)  Each county other than a county that has implemented the provisions of chapter 83-220, Laws of Florida, as amended by chapters 84-270, 86-152, and 89-252, Laws of Florida, shall receive the guaranteed amount for each fiscal year.

(b)  Each county other than a county that has implemented the provisions of chapter 83-220, Laws of Florida, as amended by chapters 84-270, 86-152, and 89-252, Laws of Florida, may receive an additional share calculated as follows:

1.  Multiply each county's percentage of the total state population excluding the population of any county that has implemented the provisions of chapter 83-220, Laws of Florida, as amended by chapters 84-270, 86-152, and 89-252, Laws of Florida, by the total funds to be distributed.

2.  If the result in subparagraph 1. is less than the guaranteed amount as determined in subsection (3), that county's additional share shall be zero.

3.  For each county in which the result in subparagraph 1. is greater than the guaranteed amount as determined in subsection (3), the amount calculated in subparagraph 1. shall be reduced by the guaranteed amount. The result for each such county shall be expressed as a percentage of the amounts so determined for all counties. Each such county shall receive an additional share equal to such percentage multiplied by the total funds received by the Local Government Housing Trust Fund pursuant to s. 201.15(9) reduced by the guaranteed amount paid to all counties.

(2)  Effective July 1, 1995, distributions calculated in this section shall be disbursed on a monthly basis by the corporation beginning the first day of the month after program approval pursuant to s. 420.9072 Each county's share of the funds to be distributed from the portion of the funds in the Local Government Housing Trust Fund received pursuant to s. 201.15(10) shall be calculated by the corporation for each fiscal year as follows:

(a)  Each county shall receive the guaranteed amount for each fiscal year.

(b)  Each county may receive an additional share calculated as follows:

1.  Multiply each county's percentage of the total state population, by the total funds to be distributed.

2.  If the result in subparagraph 1. is less than the guaranteed amount as determined in subsection (3), that county's additional share shall be zero.

3.  For each county in which the result in subparagraph 1. is greater than the guaranteed amount, the amount calculated in subparagraph 1. shall be reduced by the guaranteed amount. The result for each such county shall be expressed as a percentage of the amounts so determined for all counties. Each such county shall receive an additional share equal to this percentage multiplied by the total funds received by the Local Government Housing Trust Fund pursuant to s. 201.15(10) as reduced by the guaranteed amount paid to all counties.

(3)  Calculation of guaranteed amounts:

(a)  The guaranteed amount under subsection (1) shall be calculated for each state fiscal year by multiplying $350,000 by a fraction, the numerator of which is the amount of funds distributed to the Local Government Housing Trust Fund pursuant to s. 201.15(9) and the denominator of which is the total amount of funds distributed to the Local Government Housing Trust Fund pursuant to s. 201.15

(b)  The guaranteed amount under subsection (2) shall be calculated for each state fiscal year by multiplying $350,000 by a fraction, the numerator of which is the amount of funds distributed to the Local Government Housing Trust Fund pursuant to s. 201.15(10) and the denominator of which is the total amount of funds distributed to the Local Government Housing Trust Fund pursuant to s. 201.15

(4)  Funds distributed pursuant to this section may not be pledged to pay debt service on any bonds.

History.--s. 32, ch. 92-317; s. 36, ch. 97-167; s. 15, ch. 98-56; s. 49, ch. 99-247; ss. 82, 83, ch. 2000-153.

¹Note.--Section 45, ch. 2007-73, provides that:

"(1)  In order to implement Specific Appropriation 1695 in the 2007-2008 General Appropriations Act, notwithstanding s. 420.9073, Florida Statutes, the Florida Housing Finance Corporation is directed to establish a Teachers' Down Payment Assistance Pilot Program. By rule, the corporation shall set forth criteria for project selection and funding.

"(2)  In order to assist in the recruitment and retention of teachers, eligibility shall be limited to those local governments whose local housing assistance plans include the following:

"(a)  Down payment assistance shall be provided to eligible persons who meet the following criteria, in addition to other requirements of the plan, the person shall:

"1.  Be employed full time as a K-12 classroom teacher in this state;

"2.  Be state-certified in a critical need area of exceptional student education, mathematics, or science;

"3.  Declare his or her homestead and maintain residency at his or her homestead;

"4.  Be employed in a full-time, permanent capacity; and

"5.  Demonstrate a 5-year minimum commitment to continued employment as a K-12 classroom teacher in a public school within the county of current employment.

"(b)  Compliance with the eligibility criteria shall be verified on application and during the life of the loan by the school district in which the teacher is employed.

"(c)  The program shall provide $4,000 as down payment assistance if the municipality, county, or appropriate governmental subdivision or agency within which an eligible recipient resides waives all impact fees that occur incidental to the recipient's home purchase.

"(d)  Any lien on the recipient's property securing the assistance provided under this program shall be released if the recipient fulfills the 5-year commitment.

"(3)  Any undistributed funds remaining on June 1, 2008, shall be distributed along with other State Housing Initiative Partnership funds, as provided in s. 420.9073, Florida Statutes."