Florida Senate - 2021                        COMMITTEE AMENDMENT
       Bill No. CS for SB 1584
       
       
       
       
       
       
                                Ì210520^Î210520                         
       
                              LEGISLATIVE ACTION                        
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       The Committee on Finance and Tax (Gruters) recommended the
       following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Delete lines 19 - 65
    4  and insert:
    5  “residential property” means a property classified as single
    6  family or condominium pursuant to s. 195.073(1)(a)1. or 4.,
    7  respectively, which is a single dwelling unit.
    8         (b) The tax imposed by this section shall be limited to the
    9  difference between the consideration paid by an original
   10  purchaser of a residential property and the consideration paid
   11  by an unrelated subsequent purchaser of the same residential
   12  property in an arm’s length transaction within 75 calendar days
   13  immediately following the date on which the property was
   14  conveyed to, or an interest in such property was vested in, the
   15  original purchaser.
   16         (c) The tax limitation under paragraph (b) does not apply
   17  if the consideration paid by the subsequent purchaser for the
   18  residential property exceeds 110 percent of the consideration
   19  paid by the original purchaser for the same residential
   20  property.
   21  
   22  ================= T I T L E  A M E N D M E N T ================
   23  And the title is amended as follows:
   24         Delete lines 4 - 9
   25  and insert:
   26         term “residential property”; providing a methodology
   27         to be used in determining documentary stamp taxes due
   28         for certain transactions involving residential
   29         property; providing applicability; providing an
   30         effective