Florida Senate - 2009                                    SB 1434
       
       
       
       By Senator Crist
       
       
       
       
       12-00536-09                                           20091434__
    1                        A bill to be entitled                      
    2         An act relating to distribution of proceeds from
    3         excise taxes on documents; amending s. 201.15, F.S.;
    4         removing a limitation on the amount of such proceeds
    5         which may be deposited into the State Housing Trust
    6         Fund on or after a specified date; providing an
    7         effective date.
    8         
    9  Be It Enacted by the Legislature of the State of Florida:
   10         
   11         Section 1. Subsections (9), (10), (13), (15), and (16) of
   12  section 201.15, Florida Statutes, are amended to read:
   13         201.15 Distribution of taxes collected.—All taxes collected
   14  under this chapter are subject to the service charge imposed in
   15  s. 215.20(1). Prior to distribution under this section, the
   16  Department of Revenue shall deduct amounts necessary to pay the
   17  costs of the collection and enforcement of the tax levied by
   18  this chapter. Such costs and the service charge may not be
   19  levied against any portion of taxes pledged to debt service on
   20  bonds to the extent that the costs and service charge are
   21  required to pay any amounts relating to the bonds. All taxes
   22  remaining after deduction of costs and the service charge shall
   23  be distributed as follows:
   24         (9) Seven and fifty-three hundredths The lesser of 7.53
   25  percent of the remaining taxes collected under this chapter or
   26  $107 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) Eight and sixty-six hundredths The lesser of 8.66
   37  percent of the remaining taxes collected under this chapter or
   38  $136 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         (13) Beginning July 1, 2009 2008, in each fiscal year that
   53  the remaining taxes collected under this chapter exceed
   54  collections in the prior fiscal year, the stated maximum dollar
   55  amounts provided in subsections (2), (4), (6), and (7), (9), and
   56  (10) shall each be increased by an amount equal to 10 percent of
   57  the increase in the remaining taxes collected under this chapter
   58  multiplied by the applicable percentage provided in those
   59  subsections.
   60         (15) Distributions to the State Housing Trust Fund pursuant
   61  to subsections (9) and (10) shall be sufficient to cover amounts
   62  required to be transferred to the Florida Affordable Housing
   63  Guarantee Program's annual debt service reserve and guarantee
   64  fund pursuant to s. 420.5092(6)(a) and (b) up to but not
   65  exceeding the amount required to be transferred to such reserve
   66  and fund based on the percentage distribution of documentary
   67  stamp tax revenues to the State Housing Trust Fund which is in
   68  effect in the 2004-2005 fiscal year.
   69         (15)(16) The remaining taxes collected under this chapter,
   70  after the distributions provided in the preceding subsections,
   71  shall be paid into the State Treasury to the credit of the
   72  General Revenue Fund.
   73         Section 2. This act shall take effect July 1, 2009.