Florida Senate - 2018 SB 730 By Senator Perry 8-00824-18 2018730__ 1 A bill to be entitled 2 An act relating to housing finance authorities; 3 amending s. 159.621, F.S.; exempting from taxation 4 certain notes and mortgages, including interest or 5 income, that are part of a loan made by or on behalf 6 of a housing financing authority; providing 7 requirements for exemption; providing an exception to 8 the exemptions granted by this section; providing an 9 effective date. 10 11 Be It Enacted by the Legislature of the State of Florida: 12 13 Section 1. Section 159.621, Florida Statutes, is amended to 14 read: 15 159.621 Housing bonds exempted from taxation; notes and 16 mortgages exempt from taxation.— 17 (1) The bonds of a housing finance authority issued under 18 this act, together with all notes, mortgages, security 19 agreements, letters of credit, or other instruments which arise 20 out of or are given to secure the repayment of bonds issued in 21 connection with the financing of any housing development under 22 this part, as well as the interest thereon and income therefrom, 23 shall be exempt from all taxes. 24 (2) Any note or mortgage given in connection with a loan 25 made by or on behalf of a housing finance authority under s. 26 159.608(8), including any interest and income thereon, is exempt 27 from all taxes if, at the time the note or mortgage is recorded, 28 the housing finance authority submits documentation that affirms 29 that the loan was made by or on behalf of the housing finance 30 authority. 31 32 The exemptions
exemptiongranted by this section do not apply 33 shall not be applicableto any tax imposed by chapter 220 on 34 interest, income, or profits on debt obligations owned by 35 corporations or to a deed for property financed by a housing 36 finance authority. 37 Section 2. This act shall take effect July 1, 2018.