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.
   11  Be It Enacted by the Legislature of the State of Florida:
   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.
   32  The exemptions exemption granted by this section do not apply
   33  shall not be applicable to 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.