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CS/HB 311 2026
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
A bill to be entitled 1
An act relating to tax credits for contributions to 2
assist homebuyers; providing a directive to the 3
Division of Law Revision; creating part VII of ch. 4
420, F.S.; creating s. 420.951, F.S.; defining terms; 5
creating s. 420.952, F.S., authorizing certain 6
taxpayers to receive a tax credit for specified 7
contributions; providing requirements for the use of 8
such credit; requiring a taxpayer to submit a certain 9
application beginning on a specified date; requiring 10
the application include specified information and 11
documentation; authorizing the tax credit to be used 12
against certain taxes; requiring the Department of 13
Revenue to approve applications in a specified manner; 14
providing the maximum amount of credits authorized for 15
specified fiscal years; authorizing unused credits to 16
carryforward for a specified period of time in certain 17
circumstances; prohibiting the sale or transfer of 18
certain tax credits; authorizing the department to 19
adopt rules; providing for future repeal; providing 20
construction; creating s. 220.1856, F.S.; providing a 21
credit against the corporate income tax for certain 22
contributions beginning on a specified date; 23
authorizing the credit on a consolidated return basis 24
under certain circumstances; providing applicability; 25
CS/HB 311 2026
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
amending s. 220.02, F.S.; revising the order in which 26
certain credits are intended to be applied to 27
incorporate changes made by the act; amending s. 28
220.13, F.S.; requiring the addition of the amount 29
taken for a specified credit to taxable income; 30
creating s. 624.51065, F.S.; providing a credit 31
against insurance premium taxes for certain 32
contributions beginning on a specified date; providing 33
construction; providing applicability; authorizing the 34
department to adopt emergency rules; providing for 35
future repeal; providing effective dates. 36
37
Be It Enacted by the Legislature of the State of Florida: 38
Section 1. The Division of Law Revision is directed to 39
create part VIII of chapter 420, Florida Statutes, consisting of 40
ss. 420.951 and 420.952, Florida Statutes, to be entitled 41
"Housing Tax Credits." 42
Section 2. Section 420.951, Florida Statutes, is created 43
to read: 44
420.951 Definitions.—As used in this part, the term: 45
(1) "Department" means the Department of Revenue. 46
(2) "Eligible employee" means a full-time employee who: 47
(a) Has established permanent residency in the state; 48
(b) Is a moderate-income person as that term is defined in 49
s. 420.602; and 50
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
(c) Has not owned property to which the homestead 51
exemption provided in s. 196.031(1)(a) applied in the 3 calendar 52
years before such purchase. 53
(3) "Eligible expenses" means a down payment or any 54
closing costs related to a qualifying home purchase. 55
(4) "Eligible taxpayer" means a taxpayer as defined in s. 56
220.03(1)(z) or an insurer as defined in s. 624.509(9) who has 57
operated in the state for at least 3 consecutive years. 58
(5) "Employer contribution" means a monetary contribution 59
of at least $1,000 from an employer to its employee pursuant to 60
this part. 61
(6) "Qualifying home purchase" means the purchase of a 62
property by an eligible employee for use as his or her primary 63
residence. 64
(7) "Maximum annual tax credit amount" means, for any 65
state fiscal year, the sum of the amount of tax credits approved 66
under s. 420.952, including tax credits to be taken under s. 67
220.1856 or s. 624.51065, which the department may approve for 68
taxpayers whose taxable years begin on or after January 1 of the 69
calendar year preceding the start of the applicable state fiscal 70
year. 71
(8) "Tax due" means any tax required under chapter 220 or 72
chapter 624. 73
Section 3. Section 420.952, Florida Statutes, is created 74
to read: 75
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
420.952 Homebuyer Workforce Tax Credit.— 76
(1) An eligible taxpayer may receive a credit against any 77
tax due, up to $500,000 per taxable year, for 100 percent of an 78
employer contribution to an eligible employee to pay for 79
eligible expenses related to a qualifying home purchase. An 80
eligible taxpayer may not receive more than $5,000 of credit for 81
employer contributions made to a single employee. 82
(2) The credit shall be first applied to the taxable year 83
in which the contribution is made. If a tax credit approved 84
under this section is not fully used for the specified taxable 85
year because of insufficient tax liability on the part of the 86
eligible taxpayer, the unused amount may be carried forward for 87
a period not to exceed 5 taxable years. For purposes of s. 88
220.1856, the carryover credit may be used in a subsequent year 89
after applying the other credits and unused credit carryovers in 90
the order provided in s. 220.02(8). 91
(3) The total credit taken by an eligible taxpayer in a 92
single taxable year may not exceed the total of the credit 93
approved by the department pursuant to subsection (4). 94
(4) Beginning October 1, 2026, an eligible taxpayer may 95
submit an application to the department for the purposes of 96
determining qualification for a credit under this section. The 97
department must approve the application for the credit before 98
the eligible taxpayer is authorized to claim the credit on a 99
return. 100
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
(a) An application must include, on a form prescribed by 101
the department, documentation including: 102
1. A statement signed under oath by the eligible employee 103
that he or she received the eligible contribution, that the 104
employee's household met the applicable income limitation, and 105
that such contribution was used for a qualifying home purchase. 106
2. Evidence that the eligible employee has been approved 107
by the property appraiser for a homestead exemption on the 108
applicable property. 109
3. Any other information the department requires to verify 110
qualification for the credits authorized under subsection (1). 111
(b) The eligible taxpayer shall specify in the application 112
each tax for which the taxpayer requests a credit and the 113
applicable taxable year. For purposes of s. 220.1856, a taxpayer 114
may apply for a credit to be used for a prior taxable year 115
before the date the taxpayer is required to file a return for 116
that year pursuant to s. 220.222. For purposes of s. 624.51065, 117
a taxpayer may apply for a credit to be used for a prior taxable 118
year before the date the taxpayer is required to file a return 119
for that prior taxable year pursuant to ss. 624.509 and 120
624.5092. 121
(5) The department shall approve applications on a first-122
come, first-served basis within 30 days after receipt of a 123
completed application. Within 10 days after approving or denying 124
an application, the department shall provide a copy of its 125
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
approval or denial letter to the taxpayer. If the department 126
determines that an application is incomplete, the department 127
shall notify the taxpayer in writing and the taxpayer shall have 128
30 days after receiving such notification to correct any 129
deficiency. If corrected in a timely manner, the application 130
must be deemed completed as of the date the application was 131
first submitted. 132
(6) For purposes of calculating the underpayment of 133
estimated corporate income taxes under s. 220.34 and tax 134
installment payments for taxes on insurance premiums or 135
assessments under s. 624.5092, the final amount due is the 136
amount after credits earned under s. 220.1856 or s. 624.51065 137
are deducted. 138
(a) For purposes of determining if a penalty or interest 139
under s. 220.34(2)(d)1. will be imposed for underpayment of 140
estimated corporate income tax, a taxpayer may, after earning a 141
credit under s. 220.1856, reduce any estimated payment in that 142
taxable year by the amount of the credit. 143
(b) For purposes of determining if a penalty under s. 144
624.5092 will be imposed, an insurer, after earning a credit 145
under s. 624.51065 for a taxable year, may reduce any 146
installment payment for such taxable year of 27 percent of the 147
amount of the net tax due as reported on the return for the 148
preceding year under s. 624.5092(2)(b) by the amount of the 149
credit. 150
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
(7) For state fiscal years 2026-2027, 2027-2028, and 2028-151
2029, the maximum annual tax credit amount is $5 million. 152
(8) An eligible taxpayer may not convey, transfer, or 153
assign an approved tax credit or carryforward tax credit to 154
another entity. 155
(9) The department may adopt rules necessary to administer 156
this section, including rules establishing application forms, 157
procedures governing the approval and carryforward of tax 158
credits, and procedures to be followed by taxpayers when 159
claiming approved tax credits on their returns. 160
(10)(a) This section is repealed January 1, 2030, unless 161
reviewed and saved from repeal through reenactment by the 162
Legislature. 163
(b) Notwithstanding the repeal of this section contained in 164
paragraph (a), carryover credits authorized under subsection (2) 165
remain valid until their scheduled expiration. 166
Section 4. Section 220.1856, Florida Statutes, is created 167
to read: 168
220.1856 Homebuyer Workforce Tax Credit.— 169
(1) For taxable years beginning on or after January 1, 170
2027, there is allowed a credit of 100 percent of an eligible 171
contribution made under s. 420.952 against any tax due for a 172
taxable year under this chapter. An eligible contribution must 173
be made on or before the date the taxpayer is required to file a 174
return pursuant to s. 220.222. 175
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
(2) A taxpayer who files a Florida consolidated return as 176
a member of an affiliated group pursuant to s. 220.131(1) may be 177
allowed the credit on a consolidated return basis. 178
(3) Section 420.952 applies to the credit authorized by 179
this section. 180
(4) If a taxpayer applies and is approved for a credit 181
under s. 420.952 after timely requesting an extension to file 182
under s. 220.222(2): 183
(a) The credit does not reduce the amount of tax due for 184
purposes of the department's determination as to whether the 185
taxpayer was in compliance with the requirement to pay tentative 186
taxes under ss. 220.222 and 220.32. 187
(b) The taxpayer's noncompliance with the requirement to 188
pay tentative taxes shall result in the revocation and 189
rescindment of any such credit. 190
(c) The taxpayer shall be assessed for any taxes, 191
penalties, or interest due from the taxpayer's noncompliance 192
with the requirement to pay tentative taxes. 193
Section 5. Subsection (8) of section 220.02, Florida 194
Statutes, is amended to read: 195
220.02 Legislative intent.— 196
(8) It is the intent of the Legislature that credits 197
against either the corporate income tax or the franchise tax be 198
applied in the following order: those enumerated in s. 631.828, 199
those enumerated in s. 220.191, those enumerated in s. 220.181, 200
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
those enumerated in s. 220.183, those enumerated in s. 220.182, 201
those enumerated in s. 220.1895, those enumerated in s. 220.195, 202
those enumerated in s. 220.184, those enumerated in s. 220.186, 203
those enumerated in s. 220.1845, those enumerated in s. 220.19, 204
those enumerated in s. 220.185, those enumerated in s. 220.1875, 205
those enumerated in s. 220.1876, those enumerated in s. 206
220.1877, those enumerated in s. 220.18775, those enumerated in 207
s. 220.1878, those enumerated in s. 288.062, those enumerated in 208
former s. 288.9916, those enumerated in former s. 220.1899, 209
those enumerated in former s. 220.194, those enumerated in s. 210
220.196, those enumerated in s. 220.198, those enumerated in s. 211
220.1915, those enumerated in s. 220.199, those enumerated in s. 212
220.1991, and those enumerated in s. 220.1992, and those 213
enumerated in s. 220.1856. 214
Section 6. Paragraph (a) of subsection (1) of section 215
220.13, Florida Statutes, is amended to read: 216
220.13 "Adjusted federal income" defined.— 217
(1) The term "adjusted federal income" means an amount 218
equal to the taxpayer's taxable income as defined in subsection 219
(2), or such taxable income of more than one taxpayer as 220
provided in s. 220.131, for the taxable year, adjusted as 221
follows: 222
(a) Additions.—There shall be added to such taxable 223
income: 224
1.a. The amount of any tax upon or measured by income, 225
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
excluding taxes based on gross receipts or revenues, paid or 226
accrued as a liability to the District of Columbia or any state 227
of the United States which is deductible from gross income in 228
the computation of taxable income for the taxable year. 229
b. Notwithstanding sub-subparagraph a., if a credit taken 230
under s. 220.1875, s. 220.1876, s. 220.1877, or s. 220.1878 is 231
added to taxable income in a previous taxable year under 232
subparagraph 11. and is taken as a deduction for federal tax 233
purposes in the current taxable year, the amount of the 234
deduction allowed shall not be added to taxable income in the 235
current year. The exception in this sub-subparagraph is intended 236
to ensure that the credit under s. 220.1875, s. 220.1876, s. 237
220.1877, or s. 220.1878 is added in the applicable taxable year 238
and does not result in a duplicate addition in a subsequent 239
year. 240
2. The amount of interest which is excluded from taxable 241
income under s. 103(a) of the Internal Revenue Code or any other 242
federal law, less the associated expenses disallowed in the 243
computation of taxable income under s. 265 of the Internal 244
Revenue Code or any other law, excluding 60 percent of any 245
amounts included in alternative minimum taxable income, as 246
defined in s. 55(b)(2) of the Internal Revenue Code, if the 247
taxpayer pays tax under s. 220.11(3). 248
3. In the case of a regulated investment company or real 249
estate investment trust, an amount equal to the excess of the 250
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
net long-term capital gain for the taxable year over the amount 251
of the capital gain dividends attributable to the taxable year. 252
4. That portion of the wages or salaries paid or incurred 253
for the taxable year which is equal to the amount of the credit 254
allowable for the taxable year under s. 220.181. This 255
subparagraph shall expire on the date specified in s. 290.016 256
for the expiration of the Florida Enterprise Zone Act. 257
5. That portion of the ad valorem school taxes paid or 258
incurred for the taxable year which is equal to the amount of 259
the credit allowable for the taxable year under s. 220.182. This 260
subparagraph shall expire on the date specified in s. 290.016 261
for the expiration of the Florida Enterprise Zone Act. 262
6. The amount taken as a credit under s. 220.195 which is 263
deductible from gross income in the computation of taxable 264
income for the taxable year. 265
7. That portion of assessments to fund a guaranty 266
association incurred for the taxable year which is equal to the 267
amount of the credit allowable for the taxable year. 268
8. In the case of a nonprofit corporation which holds a 269
pari-mutuel permit and which is exempt from federal income tax 270
as a farmers' cooperative, an amount equal to the excess of the 271
gross income attributable to the pari-mutuel operations over the 272
attributable expenses for the taxable year. 273
9. The amount taken as a credit for the taxable year under 274
s. 220.1895. 275
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
10. Up to nine percent of the eligible basis of any 276
designated project which is equal to the credit allowable for 277
the taxable year under s. 220.185. 278
11. Any amount taken as a credit for the taxable year 279
under s. 220.1875, s. 220.1876, s. 220.1877, or s. 220.1878. The 280
addition in this subparagraph is intended to ensure that the 281
same amount is not allowed for the tax purposes of this state as 282
both a deduction from income and a credit against the tax. This 283
addition is not intended to result in adding the same expense 284
back to income more than once. 285
12. The amount taken as a credit for the taxable year 286
under s. 220.196. The addition in this subparagraph is intended 287
to ensure that the same amount is not allowed for the tax 288
purposes of this state as both a deduction from income and a 289
credit against the tax. The addition is not intended to result 290
in adding the same expense back to income more than once. 291
13. The amount taken as a credit for the taxable year 292
pursuant to s. 220.198. 293
14. The amount taken as a credit for the taxable year 294
pursuant to s. 220.1915. 295
15. The amount taken as a credit for the taxable year 296
pursuant to s. 220.199. 297
16. The amount taken as a credit for the taxable year 298
pursuant to s. 220.1991. 299
17. The amount taken as a credit for the taxable year 300
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
pursuant to s. 220.1856, which was deducted in the computation 301
of taxable income for the taxable year. 302
Section 7. Section 624.51065, Florida Statutes, is created 303
to read: 304
624.51065 Homebuyer Workforce Tax Credit.— 305
(1) For taxable years beginning on or after January 1, 306
2027, there is allowed a credit of 100 percent of an eligible 307
contribution made under s. 420.952 against any tax due for a 308
taxable year under this chapter after deducting from such tax 309
credits and deductions in the order provided in s. 624.509(7). 310
(2) An eligible contribution must be made on or before the 311
date the taxpayer is required to file a return pursuant to ss. 312
624.509 and 624.5092. An insurer claiming a credit against 313
premium tax liability under this section is not required to pay 314
any additional retaliatory tax levied under s. 624.5091 as a 315
result of claiming such credit. Section 624.5091 does not limit 316
such credit in any manner. 317
(3) Section 420.952 applies to the credit authorized by 318
this section. 319
Section 8. (1) The Department of Revenue is authorized, 320
and all conditions are deemed met, to adopt emergency rules 321
under s. 120.54(4), Florida Statutes, for the purpose of 322
implementing provisions related to the creation of the Homebuyer 323
Workforce Tax Credit by this act. Notwithstanding any other law, 324
emergency rules adopted under this section are effective for 6 325
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F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
months after adoption and may be renewed during the pendency of 326
procedures to adopt permanent rules addressing the subject of 327
the emergency rules. 328
(2) This section shall take effect upon becoming a law and 329
expires July 1, 2029. 330
Section 9. Except as otherwise expressly provided by this 331
act and except for this section, which shall take effect upon 332
becoming a law, this act shall take effect July 1, 2026. 333