| 1 | A bill to be entitled |
| 2 | An act relating to the State Housing Trust Fund; amending |
| 3 | s. 201.15, F.S.; revising provisions governing the |
| 4 | distribution of a portion of the proceeds of the excise |
| 5 | tax on documents to the State Housing Trust Fund; |
| 6 | providing for the annual appropriation of a portion of the |
| 7 | taxes distributed to the State Housing Trust Fund for |
| 8 | specified uses conforming to the purposes for which the |
| 9 | fund was created; providing an effective date. |
| 10 |
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| 11 | Be It Enacted by the Legislature of the State of Florida: |
| 12 |
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| 13 | Section 1. Subsections (9) and (10) of section 201.15, |
| 14 | Florida Statutes, as amended by section 1 of chapter 2005-92, |
| 15 | Laws of Florida, and section 22 of chapter 2006-1, Laws of |
| 16 | Florida, are amended to read: |
| 17 | 201.15 Distribution of taxes collected.--All taxes |
| 18 | collected under this chapter shall be distributed as follows and |
| 19 | shall be subject to the service charge imposed in s. 215.20(1), |
| 20 | except that such service charge shall not be levied against any |
| 21 | portion of taxes pledged to debt service on bonds to the extent |
| 22 | that the amount of the service charge is required to pay any |
| 23 | amounts relating to the bonds: |
| 24 | (9) The lesser of Seven and fifty-three hundredths percent |
| 25 | of the remaining taxes collected under this chapter or $107 |
| 26 | million in each fiscal year shall be paid into the State |
| 27 | Treasury to the credit of the State Housing Trust Fund and shall |
| 28 | be used as follows: |
| 29 | (a) Half of that amount shall be used for the purposes for |
| 30 | which the State Housing Trust Fund was created and exists by |
| 31 | law. |
| 32 | (b) Half of that amount shall be paid into the State |
| 33 | Treasury to the credit of the Local Government Housing Trust |
| 34 | Fund and shall be used for the purposes for which the Local |
| 35 | Government Housing Trust Fund was created and exists by law. |
| 36 | (10) The lesser of Eight and sixty-six hundredths percent |
| 37 | of the remaining taxes collected under this chapter or $136 |
| 38 | million in each fiscal year shall be paid into the State |
| 39 | Treasury to the credit of the State Housing Trust Fund and shall |
| 40 | be used as follows: |
| 41 | (a) Twelve and one-half percent of that amount shall be |
| 42 | deposited into the State Housing Trust Fund and be expended by |
| 43 | the Department of Community Affairs and by the Florida Housing |
| 44 | Finance Corporation for the purposes for which the State Housing |
| 45 | Trust Fund was created and exists by law. |
| 46 | (b) Eighty-seven and one-half percent of that amount shall |
| 47 | be distributed to the Local Government Housing Trust Fund and |
| 48 | shall be used for the purposes for which the Local Government |
| 49 | Housing Trust Fund was created and exists by law. Funds from |
| 50 | this category may also be used to provide for state and local |
| 51 | services to assist the homeless. |
| 52 | Section 2. The Legislature shall annually appropriate at |
| 53 | least 90 percent of the tax proceeds distributed to the State |
| 54 | Housing Trust Fund for the purpose of providing affordable |
| 55 | housing units and other purposes for which the State Housing |
| 56 | Trust Fund was created. |
| 57 | Section 3. This act shall take effect July 1, 2007. |