On March 28, 2023, Florida Governor Ron DeSantis signed into law Senate Bill 102, colloquially known as the Live Local Act (the Act). Set to take effect as of July 1, 2023, this bill encompasses significant land use, zoning, and tax benefits that can now be availed by developers and investors.
As the name suggests, the Live Local Act targets local growth by packing a series of substantial amendments to land use and zoning laws. It also introduces tax benefits in a bid to attract fresh capital into development projects. However, the finer details of how these benefits are applied, and the actual extent of the Act’s impacts, are still subject to analysis and interpretation.
The new legislation was met with commendation from many in the legal community who have already begun preparing a deeper dive into the impact and potential advantages to be procured from the Act. Notably, law firm Holland & Knight LLP has provided a general outline of the Act’s implications on land use and zoning, offering a foundational understanding of the tax benefits as well.
Further analysis and interpretation will establish the nuances of the new legislation. Legal professionals and corporate entities with vested interests in land development would be prudent to stay updated on comprehensive evaluations of the Act. This will ensure a full grasp on the new laws, allowing relevant stakeholders a fair chance to maximize the potential benefits offered by the Live Local Act.