The Live Local Act (SB 102), which was signed into law on March 29 by Gov. Ron DeSantis, has been heralded by many as one of the most significant affordable housing laws in decades. The act seeks to spur additional development of affordable housing by increasing funding, preempting certain local land use and zoning regulations, and providing new tax exemptions. The act also prohibits local governments from enacting rent control regulations such as those seen in New York City and San Francisco.

In the course of fielding questions from colleagues, property owners and developers regarding the act, questions have centered on three of the law’s features: the increased height and density afforded to projects satisfying the “40% Rule,” eligibility for the new ad valorem tax exemptions, and calculation of the sales tax exemption. Each is addressed below. First, we set forth below a quick primer on what qualifies as “affordable housing.”