Florida House Bill 7069, passed during the 2024 legislative session, overhauled the state’s private activity bond framework — the mechanism state and local governments use to issue tax-exempt debt for projects like affordable rental housing, hospitals, and public infrastructure.1Florida Senate. House Bill 7069 (2024) It is a structural bill, not a tax break you claim on a return. If you were looking for the 2024 sales tax holidays, the commercial rent tax cut, or the child care credits, those came from a separate bill, HB 7073, covered further down.
What Private Activity Bonds Are
Private activity bonds let state and local governments borrow money at lower interest rates because the interest paid to bondholders is generally exempt from federal income tax. That tax exemption is what makes the tool useful: cheaper borrowing costs get passed through to the projects the bonds finance, which in Florida most often means affordable rental housing, hospitals, and infrastructure that serves a public purpose.1Florida Senate. House Bill 7069 (2024)
Federal law caps how much of this tax-exempt bond authority each state can issue in a given year. That means Florida has a limited “volume” of bond capacity to divide among competing projects, and the state has to decide how to allocate it. HB 7069 rewrote large parts of the rulebook for that allocation.
What HB 7069 Changed
The bill updated four connected pieces of Florida’s private activity bond process.1Florida Senate. House Bill 7069 (2024)
- How Florida’s limited bond authority is allocated across competing projects.
- Reporting requirements and notice-of-intent rules for issuers seeking an allocation.
- Rules governing carryforward allocations, meaning bond authority that was awarded but not used within its window and gets rolled forward.
- Provisions for mortgage credit certificates, a related tool that converts a portion of bond authority into a federal tax credit for qualifying homebuyers rather than into bond issuance.
None of these are consumer-facing changes. They are the plumbing behind how projects get in line for tax-exempt financing and how unused capacity moves through the system.
How This Affects Individual Taxpayers
You will not see HB 7069 on any tax form. Florida has no personal income tax, and private activity bonds are a financing mechanism, not a deduction, credit, or exemption available to individuals.
The effects are indirect. When bond authority is allocated efficiently, more affordable housing units get built and more public infrastructure gets financed at lower cost. That influences rents, housing supply, and, over time, local tax bases. If you are a developer, bond issuer, or advisor involved in tax-exempt financing, the changes matter operationally. If you are a resident wondering whether your tax bill will look different, the answer is no.
HB 7073, the Bill People Often Confuse With It
The 2024 session’s direct tax relief came through House Bill 7073, signed by Governor DeSantis on May 7, 2024. That package was estimated to save taxpayers and consumers $1.5 billion over two years.2Executive Office of the Governor. Governor Ron DeSantis Brings More Tax Relief for Florida’s Families Because searches for “Florida House Bill 7069” often turn up 7073 material, here is a short guide to what actually came from where.
Commercial Rent Tax Cut
HB 7073 dropped Florida’s state sales tax on commercial rent from 4.5% to 2.0%, effective June 1, 2024.3Florida Department of Revenue. Tax Information Publication 24A01-02 – Sales Tax Rate on Rental, Lease, or License to Use Real Property Reduced Subsequent legislation then repealed the state commercial rent tax entirely, effective October 1, 2025.4Florida Department of Revenue. Tax Information Publication 25A01-04 – Sales Tax on Commercial Rentals Repealed County discretionary surtaxes may still apply, but the state portion is gone. If you lease commercial space, check that your landlord’s invoices reflect the elimination.
2024 Sales Tax Holidays
HB 7073 created four temporary sales tax holidays in 2024, all now expired:
- Back-to-School, July 29 through August 11, 2024, covering clothing, footwear, and backpacks at $100 or less, school supplies at $50 or less, and personal computers at $1,500 or less.5Florida Department of Revenue. Tax Information Publication 24A01-03 – 2024 Back-to-School Sales Tax Holiday
- Disaster Preparedness, June 1–14 and August 24 through September 6, 2024, covering hurricane supplies like generators at $3,000 or less.6Florida Department of Revenue. 2024 Florida Disaster Preparedness Sales Tax Holiday – FAQs for Consumers
- Freedom Month, July 2024, waiving tax on admissions to concerts, sporting events, state parks, and outdoor recreation supplies.7Florida Department of Revenue. Tax Information Publication 24A01-05 – 2024 Sales Tax Holiday on Specific Admissions and Outdoor Activity Supplies
- Tool Time, September 1–7, 2024, covering power tools at $300 or less and work boots at $175 or less.8Florida Department of Revenue. Tax Information Publication 24A01-06 – 2024 Sales Tax Holiday for Tools Commonly Used by Skilled Trade Workers
Homestead Exemption Error Protections
HB 7073 also changed what happens when a homestead exemption was improperly granted because of a property appraiser’s clerical error. The homeowner owes no penalty or interest on the underpaid taxes. If you disclose the error before the appraiser contacts you, no back taxes are owed. If the appraiser finds it first, back taxes are due only for qualifying years within the five years preceding notification, down from a previous ten-year lookback. Before any lien can be filed, you must have at least 30 days to pay.9Florida Senate. Florida Code 196.161 – Homestead Exemptions; Lien Imposed on Property of Person Claiming Exemption
Business Tax Credits
HB 7073 added or reinforced several corporate income tax credits. Because Florida has no personal income tax, these apply to C corporations and other entities subject to Chapter 220 of the Florida Statutes:
- Child care credits under Florida Statute 402.261, including a startup cost credit (up to $1 million for the smallest employers, scaling down by size), a $300-per-month credit per enrolled eligible child, and a credit for direct payments to a licensed facility of 100% of payments up to $3,600 per child per year. The statewide allocation is capped at $5 million per fiscal year through 2026–2027.10Florida Senate. Florida Code 402.261 – Child Care Tax Credits
- Individuals with Unique Abilities credit, giving employers $1 per hour worked by a qualifying employee with a disability, up to 1,000 hours and $1,000 per employee, with a statewide cap of $5 million per fiscal year through 2026–2027.11Florida Senate. Florida Code 220.1992 – Individuals with Unique Abilities Tax Credit Program
- Expanded affordable housing property tax exemption under Florida Statute 196.1978, with two paths (one that phases in after a 15-year period, and a separate track tied to a 99-year affordability commitment with the Florida Housing Finance Corporation).12Florida House of Representatives. Florida Code 196.1978 – Affordable Housing Property Exemption
Businesses claiming state credits should be aware that the IRS may treat certain credits as taxable income at the federal level, and state agencies report refunds, credits, or offsets of state income tax on Form 1099-G.13Internal Revenue Service. Form 1099-G – Certain Government Payments Coordinate with a tax professional before filing.