SB 2512 — Documentary Stamp Tax Distributions
This summary is provided for information only and does not represent the opinion of any Senator, Senate Officer, or Senate Office.
Prepared by: Appropriations Committee (AP)
SB 2512 conforms statutes to the funding decisions related to the Documentary Stamp Distributions in the General Appropriations Act (GAA) for Fiscal Year 2021-2022. The bill:
- Revises Documentary Stamp Tax distributions of the remainder after distributions are made to the Land Acquisition Trust Fund, Department of Revenue Administration cost, and the General Revenue Service Charge by:
- Adding a distribution of 5.4175 percent of the remainder to the newly created Resilient Florida Trust Fund to be used for the new Resilient Florida Program.
- Adding a distribution of 5.4175 percent of the remainder to the Water Sustainability and Accountability Program Trust Fund to be used for the wastewater grant program provided in s. 403.0673, F.S.
- Amending the distributions made to the State Housing Trust Fund and Local Government Housing Trust Fund to 9.70254 percent of the remainder. Also, prevents funds distributed to the State Housing Trust Fund and the Local Government Housing Trust Fund from being transferred to General Revenue.
- Amends the use of the Water Protection and Sustainability Program Trust Fund to authorize the fund to be used for the wastewater grant program.
- Makes other technical adjustments to clean up the subsection.
- Is linked to Resilient Florida Trust Fund bill (SB 2514) and Statewide Flooding and Sea-Level Rise Resilience (SB 1954)
If approved by the Governor, these provisions take effect on July 1, 2021, only if SB 1954 or similar legislation and SB 2514 or similar legislation are adopted in this legislative session and become law.
Vote: Senate 25-14; House 78-38