SHIP addressed in House Bill 665 for the Florida Legislative Session

Housing advocates can thank Representative Aubuchon for filing HB 665 which repeals the cap on the trust funds and directs the trust fund monies to be used to create housing related jobs, move existing inventory, and preserve/rehabilitate existing affordable housing.

The SHIP program may be temporarily prohibited in the next fiscal year from funding any new construction.  House Bill 665, which was filed on January 14^th for the upcoming Florida legislative session, addresses this topic in section 13 on page 25, and proposes the temporary prohibition through July 1, 2011.  However, HB 665 does not restrict the use of such funds to assist with the purchase of newly constructed homes that were completed prior to December 31, 2009, or the acquisition and rehabilitation of apartments that received their initial certificate of occupancy prior to December 31, 1995.

Click here for House Bill 665.  Here is the text from Section 13 of HB 665: 

Section 13.

(1) The Legislature finds that due to the current economic conditions in the housing market there is a critical need to rehabilitate or sell excess inventory of unsold homes, including foreclosed homes and newly constructed homes, as well as a critical need for the rehabilitation and preservation of older, affordable apartments. The Legislature further finds that there is a critical need to create housing-related jobs and that these conditions require the targeting of state and local housing trust fund moneys to assist in the sale or rehabilitation of existing homes and the preservation and rehabilitation of older rental apartments.

(2) Notwithstanding ss. 420.507(22)(a) and (23)(a), 420.5087(6)(l), 420.5088, 420.5095, and 420.9075(1)(b) and (5)(b), Florida Statutes, funds from the State Housing Trust Fund or the Local Government Housing Trust Fund that are appropriated for use in the State Apartment Incentive Loan Program, Florida Homeownership Assistance Program, Community Workforce Housing Innovation Pilot Program, or the State Housing Initiatives Partnership Program may not be used to:

(a) Finance or otherwise assist the construction or purchase of housing sold to eligible individuals, unless the housing unit being sold had an initial certificate of occupancy prior to December 31, 2009; or

(b) Finance or otherwise assist in the construction or purchase of rental housing, unless the development being financed or assisted received its initial certificate of occupancy prior to December 31, 1995. Nothing in this section restricts the use of such funds to assist with the purchase of newly constructed homes that were completed prior to December 31, 2009, or the acquisition and rehabilitation of apartments that received their initial certificate of occupancy prior to December 31, 1995. The use of such funds is subject to the restrictions of the program under which the funding is made available.

(3) This section expires July 1, 2011.