| 1 | A bill to be entitled |
| 2 | An act relating to distribution of proceeds from excise |
| 3 | taxes on documents; amending s. 201.15, F.S.; removing a |
| 4 | limitation on the amount of such proceeds to be deposited |
| 5 | into the State Housing Trust Fund each fiscal year; |
| 6 | providing for retroactive repeal of s. 8, ch. 2009-131, |
| 7 | Laws of Florida, to eliminate a conflicting version of s. |
| 8 | 201.15, F.S.; providing an effective date. |
| 9 |
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| 10 | Be It Enacted by the Legislature of the State of Florida: |
| 11 |
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| 12 | Section 1. Subsections (9), (10), (13), (15), (16), and |
| 13 | (17) of section 201.15, Florida Statutes, as amended by chapters |
| 14 | 2009-17, 2009-21, and 2009-68, Laws of Florida, are amended to |
| 15 | read: |
| 16 | 201.15 Distribution of taxes collected.--All taxes |
| 17 | collected under this chapter are subject to the service charge |
| 18 | imposed in s. 215.20(1). Prior to distribution under this |
| 19 | section, the Department of Revenue shall deduct amounts |
| 20 | necessary to pay the costs of the collection and enforcement of |
| 21 | the tax levied by this chapter. Such costs and the service |
| 22 | charge may not be levied against any portion of taxes pledged to |
| 23 | debt service on bonds to the extent that the costs and service |
| 24 | charge are required to pay any amounts relating to the bonds. |
| 25 | After distributions are made pursuant to subsection (1), all of |
| 26 | the costs of the collection and enforcement of the tax levied by |
| 27 | this chapter and the service charge shall be available and |
| 28 | transferred to the extent necessary to pay debt service and any |
| 29 | other amounts payable with respect to bonds authorized before |
| 30 | January 1, 2010, secured by revenues distributed pursuant to |
| 31 | subsection (1). All taxes remaining after deduction of costs and |
| 32 | the service charge shall be distributed as follows: |
| 33 | (9) Seven and fifty-three hundredths The lesser of 7.53 |
| 34 | percent of the remaining taxes or $107 million in each fiscal |
| 35 | year shall be paid into the State Treasury to the credit of the |
| 36 | State Housing Trust Fund and used as follows: |
| 37 | (a) Half of that amount shall be used for the purposes for |
| 38 | which the State Housing Trust Fund was created and exists by |
| 39 | law. |
| 40 | (b) Half of that amount shall be paid into the State |
| 41 | Treasury to the credit of the Local Government Housing Trust |
| 42 | Fund and used for the purposes for which the Local Government |
| 43 | Housing Trust Fund was created and exists by law. |
| 44 | (10) Eight and sixty-six hundredths The lesser of 8.66 |
| 45 | percent of the remaining taxes or $136 million in each fiscal |
| 46 | year shall be paid into the State Treasury to the credit of the |
| 47 | State Housing Trust Fund and used as follows: |
| 48 | (a) Twelve and one-half percent of that amount shall be |
| 49 | deposited into the State Housing Trust Fund and be expended by |
| 50 | the Department of Community Affairs and by the Florida Housing |
| 51 | Finance Corporation for the purposes for which the State Housing |
| 52 | Trust Fund was created and exists by law. |
| 53 | (b) Eighty-seven and one-half percent of that amount shall |
| 54 | be distributed to the Local Government Housing Trust Fund and |
| 55 | used for the purposes for which the Local Government Housing |
| 56 | Trust Fund was created and exists by law. Funds from this |
| 57 | category may also be used to provide for state and local |
| 58 | services to assist the homeless. |
| 59 | (13) In each fiscal year that the remaining taxes exceed |
| 60 | collections in the prior fiscal year, the stated maximum dollar |
| 61 | amounts provided in subsections (2), (4), (6), and (7), (9), and |
| 62 | (10) shall each be increased by an amount equal to 10 percent of |
| 63 | the increase in the remaining taxes collected under this chapter |
| 64 | multiplied by the applicable percentage provided in those |
| 65 | subsections. |
| 66 | (15) Distributions to the State Housing Trust Fund |
| 67 | pursuant to subsections (9) and (10) must be sufficient to cover |
| 68 | amounts required to be transferred to the Florida Affordable |
| 69 | Housing Guarantee Program's annual debt service reserve and |
| 70 | guarantee fund pursuant to s. 420.5092(6)(a) and (b) up to the |
| 71 | amount required to be transferred to such reserve and fund based |
| 72 | on the percentage distribution of documentary stamp tax revenues |
| 73 | to the State Housing Trust Fund which is in effect in the 2004- |
| 74 | 2005 fiscal year. |
| 75 | (15)(16) If amounts necessary to pay debt service or any |
| 76 | other amounts payable with respect to Preservation 2000 bonds, |
| 77 | Florida Forever bonds, or Everglades Restoration bonds |
| 78 | authorized before January 1, 2010, exceed the amounts |
| 79 | distributable pursuant to subsection (1), all moneys |
| 80 | distributable pursuant to this section are available for such |
| 81 | obligations and transferred in the amounts necessary to pay such |
| 82 | obligations when due. However, amounts distributable pursuant to |
| 83 | subsection (2), subsection (3), subsection (4), subsection (5), |
| 84 | paragraph (9)(a), or paragraph (10)(a) are not available to pay |
| 85 | such obligations to the extent that such moneys are necessary to |
| 86 | pay debt service on bonds secured by revenues pursuant to those |
| 87 | provisions. |
| 88 | (16)(17) After the distributions provided in the preceding |
| 89 | subsections, any remaining taxes shall be paid into the State |
| 90 | Treasury to the credit of the General Revenue Fund. |
| 91 | Section 2. Section 8 of chapter 2009-131, Laws of Florida, |
| 92 | is repealed, retroactive to June 30, 2009. |
| 93 | Section 3. This act shall take effect July 1, 2010. |