Senate Bill 1744

    Florida Senate - 1998                                  SB 1744

    By Senator Dyer





    14-1669-98

  1                      A bill to be entitled

  2         An act relating to documentary stamp taxes;

  3         amending s. 201.02, F.S.; providing an

  4         exemption with respect to certain transactions

  5         involving the transfer of residential real

  6         property to a first-time purchaser of real

  7         property; providing an effective date.

  8

  9  Be It Enacted by the Legislature of the State of Florida:

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11         Section 1.  Subsection (8) is added to section 201.02,

12  Florida Statutes, to read:

13         201.02  Tax on deeds and other instruments relating to

14  real property or interests in real property.--

15         (8)  Taxes imposed by this section do not apply to any

16  assignment, transfer, or other disposition, or any document

17  that arises out of a transfer of residential real property to

18  a first-time purchaser of real property. As used in this

19  subsection, the term "first-time purchaser" means a purchaser

20  having no document evidencing ownership of real property

21  previously recorded in this or any other state.

22         Section 2.  This act shall take effect July 1, 1998.

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25                          SENATE SUMMARY

26    Provides an exemption from the documentary stamp tax for
      documents relating to the purchase of residential real
27    property by a first-time purchaser of real property.

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