Florida Senate - 2026                                     SB 752
       
       
        
       By Senator DiCeglie
       
       
       
       
       
       18-00935-26                                            2026752__
    1                        A bill to be entitled                      
    2         An act relating to the taxation of first-time buyers;
    3         amending s. 201.02, F.S.; specifying that documentary
    4         stamp taxes do not apply to deeds, transfers, or
    5         conveyances of residential property to first-time
    6         homebuyers; defining the term “first-time homebuyer”;
    7         amending s. 201.08, F.S.; specifying that documentary
    8         stamp taxes do not apply to certain documents executed
    9         by a first-time homebuyer in connection with the
   10         purchase of a principal residence; defining the term
   11         “first-time homebuyer”; providing an effective date.
   12          
   13  Be It Enacted by the Legislature of the State of Florida:
   14  
   15         Section 1. Present subsections (9), (10), and (11) of
   16  section 201.02, Florida Statutes, are redesignated as
   17  subsections (10), (11), and (12), respectively, and a new
   18  subsection (9) is added to that section, to read:
   19         201.02 Tax on deeds and other instruments relating to real
   20  property or interests in real property.—
   21         (9) Taxes imposed by this section do not apply to a deed,
   22  transfer, or conveyance that transfers or conveys residential
   23  property to a first-time homebuyer for use as a principal
   24  residence. For purposes of this subsection, the term “first-time
   25  homebuyer” means a person who has not held ownership interest in
   26  a principal residence during the 3-year period before the date
   27  of purchase of the principal residence and who is a moderate
   28  income person as defined in s. 420.602.
   29         Section 2. Subsection (10) is added to section 201.08,
   30  Florida Statutes, to read:
   31         201.08 Tax on promissory or nonnegotiable notes, written
   32  obligations to pay money, or assignments of wages or other
   33  compensation; exception.—
   34         (10) Taxes imposed by this section do not apply to
   35  documents described in subsection (1) that are executed by a
   36  first-time homebuyer in connection with the purchase of a
   37  principal residence. For purposes of this subsection, the term
   38  “first-time homebuyer” means a person who has not held ownership
   39  interest in a principal residence during the 3-year period
   40  before the date of purchase of the principal residence and who
   41  is a moderate-income person as defined in s. 420.602.
   42         Section 3. This act shall take effect July 1, 2026.