Jervonte Edmonds’ homebuyer tax credit proposal added to House’s sweeping tax package

Lawmakers are advancing a sweeping tax package that now includes a proposal aimed at helping workers buy their first homes.

This week, the House Ways and Means Committee added legislation (HB 311) by West Palm Beach Democratic Rep. Jervonte Edmonds to the chamber’s broader tax bill (HB 7031/PCB WMC 26-01), which also includes property taxes, sales taxes and several industry-specific credits and exemptions.

Edmonds’ proposal would create a “Homebuyer Workforce Tax Credit” designed to encourage employers to help employees cover home purchase costs. Under the bill, businesses or insurers operating in Florida could receive tax credits equal to 100% of employer contributions made to assist eligible workers with down payments or closing costs on a primary residence.

The credit would apply to corporate income taxes or insurance premium taxes. Individual employer contributions would qualify for a credit of up to $5,000 per employee, while a single business could claim up to $500,000 in credits annually.

The Department of Revenue would approve credits on a first-come, first-served basis, and the program would be capped at $5 million in total credits each fiscal year from 2026-27 through 2028-29.

Eligible employees would have to be moderate-income Florida residents — earning between 81% and 119% of the area median income — who haven’t owned a homesteaded property in the previous three years and use the contribution for a primary residence purchase.

Edmonds said in a statement that the proposed credit is meant to make it easier for workers struggling with rising housing costs to become homeowners.

“This is about protecting the American Dream,” he said. “Homeownership should not feel impossible for working families. HB 311 gives us a real tool to reduce barriers, build generational wealth, and expand opportunity across Florida.”

HB 311’s language now appears in the House’s wide-ranging tax package, which contains dozens of tax policy changes.

Among its provisions, the bill would require online vacation rental advertising platforms to collect and remit applicable lodging taxes when transactions occur through their systems.

It would also modify property tax rules in several areas. It creates a special assessment framework for certain mobile home parks, limiting annual assessment increases to 3% when most lots are rented under long-term agreements and property taxes are passed through to residents.

Other elements of the bill include extending and revising sales tax holidays, providing a refund-based tax exemption of up to $500 for certain hurricane-resistant home improvements and adjusting tax policies affecting industries such as gaming and alcoholic beverage production.

HB 7031/PCB WMC 26-01 also includes requirements for certain property-listing platforms to display estimated property taxes rather than the current owner’s tax bill, a change intended to prevent buyers from underestimating future tax obligations.