Senate Bill sb0180

    Florida Senate - 2002                                   SB 180

    By Senator Silver





    38-298-02

  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 imposed under this section applies to

  5         certificates of title issued in a judicial sale

  6         of real property pursuant to a court order or

  7         final judgment issued in a foreclosure

  8         proceeding; providing the method for computing

  9         the tax; providing that this act is to clarify,

10         not change, the law; providing for retroactive

11         applicability; providing an effective date.

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

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

16  Florida Statutes, to read:

17         201.02  Tax on deeds and other instruments relating to

18  real property or interests in real property.--

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

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

21  under an order or final judgment issued pursuant to a

22  foreclosure proceeding is subject to the tax imposed by

23  subsection (1). However, the amount of the tax must be

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

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

26  subsection is intended to clarify existing law and shall be

27  applied retroactively.

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

29  law.

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






    Florida Senate - 2002                                   SB 180
    38-298-02




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  2                          SENATE SUMMARY

  3    Provides that the excise tax on documents which is
      imposed by s. 201.02(1), F.S., applies to a certificate
  4    of title issued in a judicial sale of real property
      pursuant to a court order or final judgment issued in a
  5    foreclosure proceeding. Provides the method for computing
      the tax. Provides that this act is to clarify, not
  6    change, the law, and that the act is to be applied
      retroactively.
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CODING: Words stricken are deletions; words underlined are additions.