February 26, 2024

Florida Budget Proposals in Brief: Housing

This post is part of the “Florida Budget Proposals in Brief” blog series, where FPI highlights some of the key components of the House and Senate budget proposals — where they align, how they differ, and what it means for Floridians, communities, and the state economy. Overall, the Senate and House budget proposals for FY 2024-25 are quite similar. Unlike previous years, the joint budget conference committees will not have many significant differences to negotiate. Still, there are some notable variances, and the funding decisions have both fiscal and policy implications for the state.


The Florida Senate passed its fiscal year (FY) 2024-25 budget proposal (SB 2500), which totals $115.9 billion and represents a $578 million (or a 0.50 percent) reduction from the current budget.[1] The Florida House’s FY 2024-25 budget proposal (HB 5001) totals $115.5 billion and represents a $969 million (or a 0.83 percent) reduction compared to the current budget.

The next step in the budget process will be for a Joint Budget Commission to meet and reconcile any differences to propose a General Appropriations Act (GAA) for FY 2024-25. Both chambers will then vote on the proposed GAA, and once it is passed, it will be sent to the governor, who can make line item vetoes and sign the bill into law. The Legislature can then override vetoes if two-thirds of the members, in each chamber, vote to do so. The final budget will be enacted as of July 1, 2024.


A safe and stable place to live is necessary to fully focus on other issues in one’s life. When an individual or family is having issues finding and maintaining affordable housing, it leads to extreme stress that can negatively affect one’s career, school, and personal/professional relationships. For these reasons, the money apportioned — or not apportioned — to affordable housing has a deep impact on the state’s residents and communities.

SHIP & SAIL – Sadowski Affordable Housing Trust Fund

In the state of Florida, affordable housing projects are funded through loans available from the state, along with the grants and tax credits through the U.S. Department of Housing and Urban Development. The loans from the state are under the purview of the Florida Housing Finance Corporation (FHFC). There are two types of loans: (1) the State Apartment Incentive Loan (SAIL) program provides loans to private developers, and (2) the Statewide Housing Initiative Partnership (SHIP) program provides loans to local governments. These programs are funded through a portion of the documentary stamp tax. After the appropriate cut of funding is allocated to the Sadowski Affordable Housing Trust Fund, it is then split 70/30 between the Local Government Housing Trust Fund and the State Housing Trust Fund. The State Housing Trust’s portion of the funding is available as loans through the SAIL program, and the Local Government Housing Trust’s portion is available for the same under SHIP. The FHFC is also in charge of programs like Hometown Heroes, which provides loans to qualifying first-time homebuyers.

FHFC funding transparency is back on the proposed budget bills. This is reassuring to see since the House, Senate, and final budget for FY 2023-24 did not include details on the amounts allocated to the FHFC. As this was a concern for transparency in the Sunshine State, this hopefully signifies that the FY 2024-25 budget will contain details on how funding is allocated among the Sadowski-related trusts so that an accurate assessment can be made on FHFC funding post-Live Local. In both the House[2] and Senate[3] versions, $174 million is allocated into SHIP from the Local Government Housing Trust Fund, and $234 million is allocated to SAIL from the State Housing Trust Fund. The Senate version notes that slightly less than $664,000 of the SHIP funding will go towards training and technical assistance; while the House version notes an additional $75 million from general revenue to carry out the Hometown Heroes program.

Live Local Amendments and Funding

None of the recent amendments to the Live Local Act that were passed in 2023 affect the total funding of the program. There is clarifying language on tax exemptions for developments in at-risk areas due to climate change. The only other amendments are altering the characteristics of future developments (height, density, parking requirements, etc.). Surprisingly, when it comes to specific affordable housing projects that have been itemized within the Senate and House budget proposals, neither the Senate’s $25 million allocation,[4] nor the House’s over $27.2 million[5] rise to the over $40.2 million appropriated to these same kinds of projects in the FY 2023-24 budget. The House’s budget is much more limited than the Senate’s as almost half of its total affordable housing projects appropriation is dedicated to a single $12.5 million project.[6]

Eviction and Foreclosure Defense Projects 

This year, eviction and foreclosure defense projects have been apportioned funding in the House and Senate budget proposal. The Senate allocates $950,000 to eviction and foreclosure defense projects[7] as well as another $350,000 to a housing deposit assistance program.[8] The House budget proposal[9] allocates $150,000 to only one of the condominium/Homeowners’ Association (HOA) foreclosure defense projects; the project is in the Senate’s budget as well, though for a lower amount. The Governor’s budget proposal also suggested an additional $10 million set aside from general revenue for rental assistance for seniors,[10] though neither the Senate or House budgets allocate these funds. With the rise in homelessness following the COVID-19 pandemic and the increase in eviction filings in parts of the state — some as high as a 40 percent increase — programs designed to keep people housed are vital. However, it is also worth noting that the creation of an Office of Tenants Rights — like HB 985 or the similar, but non-identical,  SB 1244 — would help level the unequal playing field between Florida tenants and their landlords. It would also address some of the informal ways that landlords attempt to evict tenants without proper court process.


[1] For analysis of top-line budget figures, FPI uses the current General Appropriations Act (FY 2023-24), including vetoes, for sections 1-7, which totals $116.5 billion. However, this does not include back-of-the-bill sections.  For the current GAA, including vetoes, plus back-of-the-bill appropriations, supplemental appropriations, and transfer totals, please see the Florida Legislature’s “Fiscal Analysis in Brief: 2023 Legislative Session: Chart 8.”

[2] Line items: 2349, 2349A, and 2350 of House FY 2024-25 Budget.

[3] Line items: 2349 and 2350 of Senate FY 2024-25 Budget.

[4] Line items: 249A (SF 2348); 471 (HOPWA); 602 (SF 3649); 604A (SF 1398, SF 2143, AND SF 3649); 2313A (SF 3167); 2341A (SF 3145 and SF 2863); and 2347A (SF 2741, SF 3145, SF 3578, SF 1698, SF 3202, SF 1138, SF 1685, SF 1269, SF 1182, SF 3372, SF 1661, SF 2760, SF 2748, SF 1749, SF 2808, SF 1080, SF 3376, and SF 1186) of Senate FY 2024-25 Budget Proposal.

[5] Line items:  353 (HOPWA); 406A (HF 3350); 2341A (HF 1287); and 2347A (HF 2724, HF 1839, HF 2073, HF 2626, and HF 2443) of House FY 2024-25 Budget Proposal.

[6] Line item: 2347A (HF 2626) of House FY 2024-25 Budget Proposal.

[7] Line items: 1354 (SF 1769 and SF 1158) and 2341A (SF 1552) of Senate FY 2024-25 Budget Proposal.

[8] Line item: 318A (SF 1715) of Senate FY 2024-25 Budget.

[9] Line items: 1354 (HF 2844) of House FY 2024-25 Budget.

[10] Line item: 353 (Homeless Housing Assistance Grants) of Governor’s FY 2024-25 Budget Proposal.

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