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Florida Housing Trust Funds Increased

TALLAHASSEE, Fla. – June 18, 2015 – Florida lawmakers are poised to vote on the billion-plus state budget tomorrow. This is the only duty required of the Legislature during what's been a three-week special session.

The House and Senate plan to vote on a new $78.7 billion budget quickly after a review period ends. The Florida Senate will hold a session Friday afternoon to explain and debate the spending plan. House members started a question-and-answer session on the budget this morning.

Senate President Andy Gardiner, R-Orlando, indicated that he plans to hold a vote on the budget immediately after the 72-hour review period ends at 5:37 p.m. Friday.

There is good news for low-income Floridians: Lawmakers appropriated $175 million toward the Sadowski Affordable Housing Trust Funds, the highest funding level in eight years.

The $175 million includes approximately $70 million for the State Apartment Incentive Loan (SAIL) program to rehabilitate existing apartments in need of repair, or to build new units for the elderly and persons with disabilities.

If you need to find out about a Naples real estate agent you can contact the Naples Area Board Of Realtors for more information.

Lawmakers also earmarked $101 million for the State Housing Initiatives Partnership (SHIP) program. These monies may be used to provide first-time homeownership with downpayment and closing cost assistance, and to rehabilitate and retrofit housing. Another $4 million was allocated for a competitive challenge grants program to fund housing projects for homeless persons.

The state budget includes up to $500,000 for the Department of Business and Professional Regulation (DBPR) to prevent, combat and publicize the dangers of unlicensed real estate activity in Florida.

A major piece of the 20-day special session is a $400 million tax cut package that Gov. Rick Scott signed less than 24 hours after receiving it. The measure will cut sales taxes on back-to-school shopping and lower cell phone bills, among other things.

Unfortunately, the tax package does not include a reduction in the sales tax on commercial leases.

Source Article: http://www.floridarealtors.org/NewsAndEvents/article.cfm?p=2&id=324613



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