Florida Senate - 2017                        COMMITTEE AMENDMENT
       Bill No. SB 1770
       
       
       
       
       
       
                                Ì135856HÎ135856                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: FAV            .                                
                  04/04/2017           .                                
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       The Committee on Community Affairs (Rodriguez) recommended the
       following:
       
    1         Senate Amendment to Amendment (766500) (with title
    2  amendment)
    3  
    4         Delete lines 10 - 23
    5  and insert:
    6         (11)(a) For a community redevelopment agency whose annual
    7  tax increment funding exceeds $1 million, set aside 10 percent
    8  of its annual tax increment funding to be used for low-income
    9  and moderate-income affordable housing.
   10         (b) For a community redevelopment agency whose annual tax
   11  increment funding exceeds $5 million, set aside 10 percent of
   12  the annual tax increment funding to be used for low-income or
   13  moderate-income affordable housing. If the community
   14  redevelopment agency does not use the 10 percent for affordable
   15  housing within 5 years, the money shall revert to the county for
   16  use for affordable housing.
   17  
   18  Paragraphs (a) and (b) apply only if the community redevelopment
   19  agency has affordable housing as part of its community
   20  redevelopment plan or if there is a shortage of affordable
   21  housing in the area, as declared in the community redevelopment
   22  agency’s blight determination.
   23         (c) Permit a community redevelopment agency to carry over
   24  tax increment funding that has been designated for use for
   25  affordable housing for low-income or moderate-income residents.
   26  
   27  ================= T I T L E  A M E N D M E N T ================
   28  And the title is amended as follows:
   29         Delete line 35
   30  and insert:
   31         under certain circumstances; providing applicability;
   32         requiring a community