House Bill hb0173

    Florida House of Representatives - 2002                 HB 173

        By Representative Goodlette






  1                      A bill to be entitled

  2         An act relating to the excise tax on documents;

  3         amending s. 201.02, F.S.; providing that the

  4         tax on deeds and other instruments relating to

  5         real property or interests therein applies to

  6         certificates of title issued in a judicial sale

  7         of real property pursuant to a court order or

  8         final judgment issued in a foreclosure

  9         proceeding; providing the method for computing

10         the tax; providing intent; providing for

11         retroactive application; providing an effective

12         date.

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

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

17  Florida Statutes, to read:

18         201.02  Tax on deeds and other instruments relating to

19  real property or interests in real property.--

20         (8)  A certificate of title issued by the clerk of

21  court under s. 45.031(4) in a judicial sale of real property

22  under an order or final judgment issued pursuant to a

23  foreclosure proceeding is subject to the tax imposed by

24  subsection (1). However, the amount of the tax shall be

25  computed based solely on the amount of the highest and best

26  bid received for the property at the foreclosure sale. This

27  subsection is intended to clarify existing law and shall be

28  applied retroactively.

29         Section 2.  This act shall take effect upon becoming a

30  law.

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CODING: Words stricken are deletions; words underlined are additions.






    Florida House of Representatives - 2002                 HB 173

    704-153-02






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  2                          HOUSE SUMMARY

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      Provides that the documentary stamp tax on deeds and
  4    other instruments relating to real property or interests
      therein applies to a certificate of title issued in a
  5    judicial sale of real property pursuant to a court order
      or final judgment issued in a foreclosure proceeding.
  6    Provides the method for computing the tax. Provides for
      retroactive application.
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CODING: Words stricken are deletions; words underlined are additions.