Get Business Involved in Workforce Housing Solutions

Get Business Involved in Workforce Housing Solutions

IN 2023, Florida lawmakers passed a historic housing bill, known as the Live Local Act, that was heavily supported by Florida Realtors.

The Live Local Act is aimed at helping more Florida workers live in the communities they serve. Included in this groundbreaking law is a new corporate tax donation program that allows Florida businesses to directly contribute to Florida’s workforce housing needs.

Businesses that make monetary donations to the Florida Housing Finance Corporation to fund the State Apartment Incentive Loan (SAIL) program may receive a dollar-for- dollar credit against corporate income or insurance premium taxes, up to $100 million total.

This credit could be very beneficial to businesses which may have maximized their yearly 10% charitable deduction limit and would also like to invest in workforce housing initiatives.