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HB 489

Terminology Associated with Florida Housing Finance Corporation

2026 Regular Session Introduced by Michael Owen

HB 489 imposes a surcharge on vacant homes to encourage occupancy or sales, aiming to boost housing availability and enhance community revitalization efforts.

1st Reading (Original Filed Version)
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Bill Summary · HB 489

Summary of HB 489 - Relating to Vacant Homes

Bill Overview

Bill Number: HB 489
Title: Relating to Vacant Homes
Status: Introduced and Passed First Reading
Introduced Date: January 17, 2025
Classification: Bill
Subject Areas: Counties, DBEDT (Department of Business, Economic Development & Tourism), DOTAX (Department of Taxation), GET (General Excise Tax), HHFDC (Hawaii Housing Finance and Development Corporation), Vacant Home Surcharge

Purpose and Intent

The primary purpose of HB 489 is to address the issue of vacant homes within the state. The bill aims to implement a surcharge on properties that are classified as vacant, thereby encouraging property owners to either occupy their homes or put them on the market. This initiative seeks to alleviate housing shortages and promote community revitalization by reducing the number of unoccupied properties.

Key Provisions

  • Vacant Home Surcharge: The bill proposes the establishment of a surcharge on homes that are deemed vacant for a specified period. The details regarding the duration of vacancy and the surcharge rate will be defined in subsequent legislative actions.
  • Revenue Allocation: Funds generated from the vacant home surcharge are expected to be allocated to housing development initiatives and community improvement projects, although specific allocations will need to be outlined in future provisions.
  • Collaboration with Agencies: The bill emphasizes coordination between various state agencies, including the Department of Business, Economic Development & Tourism (DBEDT) and the Department of Taxation (DOTAX), to effectively implement and monitor the surcharge.

Affected Parties

  • Property Owners: Homeowners with vacant properties will be directly impacted by the surcharge, which may incentivize them to either occupy their homes or sell them.
  • Local Governments: Counties will play a crucial role in enforcing the provisions of the bill and collecting the surcharge.
  • Community Residents: The bill aims to benefit residents by increasing the availability of housing and improving neighborhood conditions.

Legislative Timeline

  • January 17, 2025: Bill introduced and pending introduction.
  • January 21, 2025: Bill referred to the following committees for further consideration:
    • HSG (Housing)
    • ECD (Economic Development)
    • FIN (Finance)
  • January 21, 2025: Bill passed its first reading in the House.

Related Legislation

  • SB 1214: This bill serves as a companion to HB 489, indicating that similar measures may be considered in the Senate.

Conclusion

HB 489 represents a proactive approach to managing vacant homes in the state, with the potential to enhance housing availability and foster community development. As the bill progresses through the legislative process, further details regarding the surcharge and its implementation will be clarified.

Compiled from official sources — confirm details with the bill’s official record.

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