Terminology Associated with the Florida Housing Finance Corporation

SB 1348 revises definitions used by Florida's Housing Finance Corporation to clarify terminology related to affordable housing programs. It adds specific requirements for "demonstrated capacity," requiring housing providers to have completed at least three affordable housing projects (including one in Florida) within the past five years. The bill also defines key terms like "qualifying principal" (owners with 25%+ stake in housing entities) and updates definitions for "elderly" housing and "eligible housing providers." These changes directly affect for-profit developers, non-profits, and community housing organizations seeking to construct or rehabilitate affordable housing projects under Florida's housing finance programs. The bill does not create new programs but refines existing eligibility and operational definitions.