For the second year in a row, Governor Ron DeSantis released a statement calling for the full funding of Sadowski Act trust fund programs.
Governor DeSantis continues to lead the argument that funds set aside for affordable housing should be appropriated and used to create affordable housing. As these state and local housing trust fund programs are critical to meeting the State’s housing needs.
Between 1993 and 2018, the Sadowski Act generated a total of $5.9 billion for housing initiatives. For nearly a decade, lawmakers left the trust fund alone. However, for the first time in 2002, the legislature siphoned $12 million from the trust fund. Since 2004, there have only been three years where lawmakers did not draw monies from the trust fund. Further, following the economic downturn, in 2012 and 2014, lawmakers did not appropriate one dollar from the trust fund for Sadowski Act programs.
Over the past quarter century, more than a third of the fund’s total revenue has been diverted from the trust fund, totaling $2.01 billion. If not left alone in FY20-21, this will be the 13th consecutive year of diverting monies from the trust fund.
According to the Governor’s proposed budget, in FY20-21 the State’s spending plan will total $91.4 billion. Last session, the Florida Senate also supported the full funding of Sadowski trust fund programs. However, lawmakers sent nearly 38 percent of the $332 million available into the general fund for unrelated appropriations.
FHBA continues to follow the Governor’s lead and encourages all members to contact their legislators to ensure the complete appropriation of all Sadowski Act trust fund dollars to Florida’s housing programs. Stay tuned for budget updates and many more legislative issues that may impact Florida’s building industry in 2020-21.