Senate Bill sb0180c1

    Florida Senate - 2002                            CS for SB 180

    By the Committee on Finance and Taxation; and Senator Silver





    314-1962-02

  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; amending s. 201.132, F.S.;

12         revising a verification requirement for a

13         notation on certain recorded documents;

14         providing an effective date.

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

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

19  Florida Statutes, to read:

20         201.02  Tax on deeds and other instruments relating to

21  real property or interests in real property.--

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

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

24  under an order or final judgment issued pursuant to a

25  foreclosure proceeding is subject to the tax imposed by

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

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

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

29  subsection is intended to clarify existing law and shall be

30  applied retroactively.

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






    Florida Senate - 2002                            CS for SB 180
    314-1962-02




  1         Section 2.  Paragraph (a) of subsection (1) of section

  2  201.132, Florida Statutes, is amended to read:

  3         201.132  Exceptions to use of stamps on recorded

  4  documents; county comptrollers and clerks of the circuit

  5  court.--

  6         (1)  The county comptroller or, if there be none, the

  7  clerk of the circuit court of each county may collect the tax

  8  imposed by this chapter without affixing stamps to the

  9  document to be recorded under the following conditions:

10         (a)  A notation shall be placed on the document to be

11  recorded showing the amount of tax paid and the county where

12  payment is being made, and the notation shall be signed by,

13  initialed, or otherwise stamped with the name or initials of

14  the county comptroller or clerk of the circuit court, or

15  designated agent thereof.

16         Section 3.  This act shall take effect upon becoming a

17  law.

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19          STATEMENT OF SUBSTANTIAL CHANGES CONTAINED IN
                       COMMITTEE SUBSTITUTE FOR
20                              SB 180

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22  The committee substitute includes an amendment to s. 201.132,
    F.S., to allow the notation of payment of documentary stamps
23  required by s. 201.132, F.S., to be made by initials or a
    stamp, in addition to the signature required by current law.
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CODING: Words stricken are deletions; words underlined are additions.