HB 0043A 2003
1	A bill to be entitled
2	An act relating to the excise tax on documents; amending
3	s. 201.15, F.S.; eliminating distributions to various
4	trust funds of proceeds of the excise tax on documents;
5	redirecting the tax proceeds to the General Revenue Fund;
6	amending s. 161.091, F.S., relating to a use of the
7	Ecosystem Management and Restoration Trust Fund, to
8	conform; repealing s. 161.05301, F.S., relating to beach
9	erosion control project staffing and an appropriation to
10	the Ecosystem Management and Restoration Trust Fund, to
11	conform; amending s. 201.0205, F.S., relating to
12	eligibility to participate in programs funded from the
13	documentary stamp tax, to conform; amending s. 259.032,
14	F.S., relating to sources of funding for the Conservation
15	and Recreation Lands Trust Fund, to conform; amending s.
16	369.252, F.S., relating to a use of the Invasive Plant
17	Control Trust Fund, to conform; amending s. 370.0603,
18	F.S., relating to uses of the Marine Resources
19	Conservation Trust Fund, to conform; amending s. 375.075,
20	F.S., relating to a use of the Land Acquisition Trust
21	Fund, to conform; amending s. 420.5092, F.S.; revising the
22	use of tax proceeds to support the Florida Affordable
23	Housing Guarantee Program; amending ss. 420.9073,
24	420.9078, and 420.9079, F.S., relating to funding of and
25	distributions from the Local Government Housing Trust
26	Fund, to conform; providing for construction of the act in
27	pari materia with laws enacted during the 2003 Regular
28	Session of the Legislature; providing an effective date.
29
30	Be It Enacted by the Legislature of the State of Florida:
31
32	Section 1. Section 201.15, Florida Statutes, is amended to
33	read:
34	201.15 Distribution of taxes collected.--All taxes
35	collected under this chapter shall be distributed as follows and
36	shall be subject to the service charge imposed in s. 215.20(1),
37	except that such service charge shall not be levied against any
38	portion of taxes pledged to debt service on bonds to the extent
39	that the amount of the service charge is required to pay any
40	amounts relating to the bonds:
41	(1) Seventy-eight and nine hundred forty-six thousandths
42	Sixty-two and sixty-three hundredths percent of the remaining
43	taxes collected under this chapter shall be used for the
44	following purposes:
45	(a) Amounts as shall be necessary to pay the debt service
46	on, or fund debt service reserve funds, rebate obligations, or
47	other amounts payable with respect to Preservation 2000 bonds
48	issued pursuant to s. 375.051 and Florida Forever bonds issued
49	pursuant to s. 215.618, shall be paid into the State Treasury to
50	the credit of the Land Acquisition Trust Fund to be used for
51	such purposes. The amount transferred to the Land Acquisition
52	Trust Fund for such purposes shall not exceed $300 million in
53	fiscal year 1999-2000 and thereafter for Preservation 2000 bonds
54	and bonds issued to refund Preservation 2000 bonds, and $300
55	million in fiscal year 2000-2001 and thereafter for Florida
56	Forever bonds. The annual amount transferred to the Land
57	Acquisition Trust Fund for Florida Forever bonds shall not
58	exceed $30 million in the first fiscal year in which bonds are
59	issued. The limitation on the amount transferred shall be
60	increased by an additional $30 million in each subsequent fiscal
61	year, but shall not exceed a total of $300 million in any fiscal
62	year for all bonds issued. It is the intent of the Legislature
63	that all bonds issued to fund the Florida Forever Act be retired
64	by December 31, 2030. Except for bonds issued to refund
65	previously issued bonds, no series of bonds may be issued
66	pursuant to this paragraph unless such bonds are approved and
67	the debt service for the remainder of the fiscal year in which
68	the bonds are issued is specifically appropriated in the General
69	Appropriations Act. For purposes of refunding Preservation 2000
70	bonds, amounts designated within this section for Preservation
71	2000 and Florida Forever bonds may be transferred between the
72	two programs to the extent provided for in the documents
73	authorizing the issuance of the bonds. The Preservation 2000
74	bonds and Florida Forever bonds shall be equally and ratably
75	secured by moneys distributable to the Land Acquisition Trust
76	Fund pursuant to this section, except to the extent specifically
77	provided otherwise by the documents authorizing the issuance of
78	the bonds. No moneys transferred to the Land Acquisition Trust
79	Fund pursuant to this paragraph, or earnings thereon, shall be
80	used or made available to pay debt service on the Save Our Coast
81	revenue bonds.
82	(b) The remainder of the moneys distributed under this
83	subsection, after the required payment under paragraph (a),
84	shall be paid into the State Treasury to the credit of the Save
85	Our Everglades Trust Fund in amounts necessary to pay debt
86	service, provide reserves, and pay rebate obligations and other
87	amounts due with respect to bonds issued under s. 215.619.
88	(c) The remainder of the moneys distributed under this
89	subsection, after the required payments under paragraphs (a) and
90	(b), shall be paid into the State Treasury to the credit of the
91	Land Acquisition Trust Fund and may be used for any purpose for
92	which funds deposited in the Land Acquisition Trust Fund may
93	lawfully be used. Payments made under this paragraph shall
94	continue until the cumulative amount credited to the Land
95	Acquisition Trust Fund for the fiscal year under this paragraph
96	and paragraph (2)(b) equals 70 percent of the current official
97	forecast for distributions of taxes collected under this chapter
98	pursuant to subsection (2). As used in this paragraph, the term
99	"current official forecast" means the most recent forecast as
100	determined by the Revenue Estimating Conference. If the current
101	official forecast for a fiscal year changes after payments under
102	this paragraph have ended during that fiscal year, no further
103	payments are required under this paragraph during the fiscal
104	year.
105	(c)(d)The remainder of the moneys distributed under this
106	subsection, after the required payments under paragraphs (a)
107	and, (b), and (c),shall be paid into the State Treasury to the
108	credit of the General Revenue Fund of the state to be used and
109	expended for the purposes for which the General Revenue Fund was
110	created and exists by law or to the Ecosystem Management and
111	Restoration Trust Fund or to the Marine Resources Conservation
112	Trust Fund as provided in subsection (11).
113	(2) Eight and seven hundred twenty-four thousandthsSeven
114	and fifty-six hundredths percent of the remainingtaxes
115	collected under this chapter shall be paid into the State
116	Treasury to the credit of the General Revenue Fund. Amounts
117	distributed under this subsection are subject to payment of debt
118	service on bonds issued to acquire coastal lands through deposit
119	into the Land Acquisition Trust Fund. Any moneys remaining after
120	payment of such debt service shall be available for any purpose
121	for which funds in the General Revenue Fund may be lawfully
122	used.
123	(3) Four and eighty-five hundredths percent of the taxes
124	collected under this chapter shall beused for the following
125	purposes:
126	(a) Amounts as shall be necessary to fully fund the annual
127	debt service reserve in the Affordable Housing Guarantee Fund
128	pursuant to s. 420.5092(6)(a) shall be paid into the State
129	Treasury to the credit of the Affordable Housing Guarantee Fund
130	to be used for the purposes described in that paragraph.
131	(b) Amounts as shall be necessary to maintain or restore
132	the claims paying rating assigned to the Affordable Housing
133	Guarantee Fund such that the rating is not less than the third-
134	highest rating classification of any nationally recognized
135	rating service rating the fund shall, pursuant to s.
136	420.5092(6)(b), be paid into the State Treasury to the credit of
137	the Affordable Housing Guarantee Fund to be used for the
138	purposes described in that paragraph.
139	(a) Beginning in the month following the final payment for
140	a fiscal year under paragraph (1)(c), available moneys shall be
141	paid into the State Treasury to the credit of the General
142	Revenue Fund of the state to be used and expended for the
143	purposes for which the General Revenue Fund was created and
144	exists by law or to the Ecosystem Management and Restoration
145	Trust Fund or to the Marine Resources Conservation Trust Fund as
146	provided in subsection (11). Payments made under this paragraph
147	shall continue until the cumulative amount credited to the
148	General Revenue Fund for the fiscal year under this paragraph
149	equals the cumulative payments made under paragraph (1)(c) for
150	the same fiscal year.
151	(c)(b)The remainder of the moneys distributed under this
152	subsection, after the required payments under paragraphs (a) and
153	(b), shall be paid into the State Treasury to the credit of the
154	General Revenue FundLand Acquisition Trust Fund. Sums deposited
155	in the fund pursuant to this subsection may be used for any
156	purpose for which funds deposited in the Land Acquisition Trust
157	Fund may lawfully be used.
158	(4)(3)Seven and forty-eightOne and ninety-four
159	hundredths percent of the remainingtaxes collected under this
160	chapter shall be paid into the State Treasury to the credit of
161	the General Revenue Fund. Amounts distributed pursuant to this
162	subsection are subject to payment of debt service on outstanding
163	Conservation and Recreation Lands revenue bonds through deposit
164	into the Land Acquisition Trust Fund. Moneys deposited in the
165	trust fund pursuant to this section shall be used for the
166	following purposes:
167	(a) Sixty percent of the moneys shall be used to acquire
168	coastal lands or to pay debt service on bonds issued to acquire
169	coastal lands; and
170	(b) Forty percent of the moneys shall be used to develop
171	and manage lands acquired with moneys from the Land Acquisition
172	Trust Fund.
173	(4) Four and two-tenths percent of the remaining taxes
174	collected under this chapter shall be paid into the State
175	Treasury to the credit of the Water Management Lands Trust Fund.
176	Sums deposited in that fund may be used for any purpose
177	authorized in s. 373.59.
178	(5) Four and two-tenths percent of the remaining taxes
179	collected under this chapter shall be paid into the State
180	Treasury to the credit of the Conservation and Recreation Lands
181	Trust Fund to carry out the purposes set forth in s. 259.032.
182	Nine and one-half percent of the amount credited to the
183	Conservation and Recreation Lands Trust Fund pursuant to this
184	subsection shall be transferred to the State Game Trust Fund and
185	used for land management activities.
186	(6) Two and twenty-eight hundredths percent of the
187	remaining taxes collected under this chapter shall be paid into
188	the State Treasury to the credit of the Invasive Plant Control
189	Trust Fund to carry out the purposes set forth in ss. 369.22 and
190	369.252.
191	(7) One-half of one percent of the remaining taxes
192	collected under this chapter shall be paid into the State
193	Treasury to the credit of the State Game Trust Fund to be used
194	exclusively for the purpose of implementing the Lake Restoration
195	2020 Program.
196	(8) One-half of one percent of the remaining taxes
197	collected under this chapter shall be paid into the State
198	Treasury and divided equally to the credit of the Department of
199	Environmental Protection Water Quality Assurance Trust Fund to
200	address water quality impacts associated with nonagricultural
201	nonpoint sources and to the credit of the Department of
202	Agriculture and Consumer Services General Inspection Trust Fund
203	to address water quality impacts associated with agricultural
204	nonpoint sources, respectively. These funds shall be used for
205	research, development, demonstration, and implementation of
206	suitable best management practices or other measures used to
207	achieve water quality standards in surface waters and water
208	segments identified pursuant to ss. 303(d) of the Clean Water
209	Act, Pub. L. No. 92-500, 33 U.S.C. ss. 1251 et seq.
210	Implementation of best management practices and other measures
211	may include cost-share grants, technical assistance,
212	implementation tracking, and conservation leases or other
213	agreements for water quality improvement. The Department of
214	Environmental Protection and the Department of Agriculture and
215	Consumer Services may adopt rules governing the distribution of
216	funds for implementation of best management practices. The
217	unobligated balance of funds received from the distribution of
218	taxes collected under this chapter to address water quality
219	impacts associated with nonagricultural nonpoint sources will be
220	excluded when calculating the unobligated balance of the Water
221	Quality Assurance Trust Fund as it relates to the determination
222	of the applicable excise tax rate.
223	(9) Seven and fifty-three hundredths percent of the
224	remaining taxes collected under this chapter shall be paid into
225	the State Treasury to the credit of the State Housing Trust Fund
226	and shall be used as follows:
227	(a) Half of that amount shall be used for the purposes for
228	which the State Housing Trust Fund was created and exists by
229	law.
230	(b) Half of that amount shall be paid into the State
231	Treasury to the credit of the Local Government Housing Trust
232	Fund and shall be used for the purposes for which the Local
233	Government Housing Trust Fund was created and exists by law.
234	(10) Eight and sixty-six hundredths percent of the
235	remaining taxes collected under this chapter shall be paid into
236	the State Treasury to the credit of the State Housing Trust Fund
237	and shall be used as follows:
238	(a) Twelve and one-half percent of that amount shall be
239	deposited into the State Housing Trust Fund and be expended by
240	the Department of Community Affairs and by the Florida Housing
241	Finance Corporation for the purposes for which the State Housing
242	Trust Fund was created and exists by law.
243	(b) Eighty-seven and one-half percent of that amount shall
244	be distributed to the Local Government Housing Trust Fund and
245	shall be used for the purposes for which the Local Government
246	Housing Trust Fund was created and exists by law. Funds from
247	this category may also be used to provide for state and local
248	services to assist the homeless.
249	(11) From the moneys specified in paragraphs (1)(d) and
250	(2)(a) and prior to deposit of any moneys into the General
251	Revenue Fund, $30 million shall be paid into the State Treasury
252	to the credit of the Ecosystem Management and Restoration Trust
253	Fund in fiscal year 2000-2001 and each fiscal year thereafter,
254	to be used for the preservation and repair of the state's
255	beaches as provided in ss. 161.091-161.212, and $2 million shall
256	be paid into the State Treasury to the credit of the Marine
257	Resources Conservation Trust Fund to be used for marine mammal
258	care as provided in s. 370.0603(3).
259	(5)(12)The Department of Revenue may use the payments
260	credited to the General Revenue Fundtrust funds pursuant to
261	paragraphs (1)(c) and (2)(b) and subsections (3), (4), (5), (6),
262	(7), (8), (9), and (10)to pay the costs of the collection and
263	enforcement of the tax levied by this chapter. The percentage of
264	such costs which may be assessed against a trust fund is a
265	ratio, the numerator of which is payments credited to that trust
266	fund under this section and the denominator of which is the sum
267	of payments made under paragraphs (1)(c) and (2)(b) and
268	subsections (3), (4), (5), (6), (7), (8), (9), and (10).
269	(6)(13)Moneys appropriated toThe distribution of
270	proceeds deposited intothe Water Management Lands Trust Fund
271	and the Conservation and Recreation Lands Trust Fund, pursuant
272	to subsections (4) and (5),shall not be used for land
273	acquisition, but may be used for preacquisition costs associated
274	with land purchases. The Legislature intends that the Florida
275	Forever program supplant the acquisition programs formerly
276	authorized under ss. 259.032 and 373.59. Prior to the 2005
277	Regular Session of the Legislature, the Acquisition and
278	Restoration Council shall review and make recommendations to the
279	Legislature concerning the need to repeal this provision. Based
280	on these recommendations, the Legislature shall review the need
281	to repeal this provision during the 2005 Regular Session.
282	(14) Amounts distributed pursuant to subsections (5), (6),
283	(7) and (8) are subject to the payment of debt service on
284	outstanding Conservation and Recreation Lands revenue bonds.
285	Section 2. Section 161.091, Florida Statutes, is amended
286	to read:
287	161.091 Beach management; funding; repair and maintenance
288	strategy.--
289	(1) Subject to such appropriations as the Legislature may
290	make therefor from time to time, disbursements from the
291	Ecosystem Management and Restoration Trust Fund may be made by
292	the department in order to carry out the proper state
293	responsibilities in a comprehensive, long-range, statewide beach
294	management plan for erosion control; beach preservation,
295	restoration, and nourishment; and storm and hurricane
296	protection. Legislative intent in appropriating such funds is
297	for the implementation of those projects that contribute most
298	significantly to addressing the state's beach erosion problems.
299	(2) The department shall develop a multiyear repair and
300	maintenance strategy that:
301	(a) Encourages regional approaches to ensure the
302	geographic coordination and sequencing of prioritized projects;
303	(b) Reduces equipment mobilization and demobilization
304	costs;
305	(c) Maximizes the infusion of beach-quality sand into the
306	system;
307	(d) Extends the life of beach nourishment projects and
308	reduces the frequency of nourishment; and
309	(e) Promotes inlet sand bypassing to replicate the natural
310	flow of sand interrupted by improved, modified, or altered
311	inlets and ports.
312	(3) In accordance with the intent expressed in s. 161.088
313	and the legislative finding that erosion of the beaches of this
314	state is detrimental to tourism, the state's major industry,
315	further exposes the state's highly developed coastline to severe
316	storm damage, and threatens beach-related jobs, which, if not
317	stopped, could significantly reduce state sales tax revenues,
318	funds deposited into the State Treasury to the credit of the
319	Ecosystem Management and Restoration Trust Fund, in the annual
320	amounts provided in s. 201.15(11), shall be used, for a period
321	of not less than 15 years, to fund the development,
322	implementation, and administration of the state's beach
323	management plan, as provided in ss. 161.091-161.212, prior to
324	the use of such funds deposited pursuant to s. 201.15(11) in
325	that trust fund for any other purpose.
326	Section 3. Section 161.05301, Florida Statutes, is
327	repealed.
328	Section 4. Section 201.0205, Florida Statutes, is amended
329	to read:
330	201.0205 Counties that have implemented ch. 83-220;
331	inapplicability of 10-cent tax increase by s. 2, ch. 92-317,
332	Laws of Florida.--The 10-cent tax increase in the documentary
333	stamp tax levied by s. 2, chapter 92-317, does not apply to
334	deeds and other taxable instruments relating to real property
335	located in any county that has implemented the provisions of
336	chapter 83-220, Laws of Florida, as amended by chapters 84-270,
337	86-152, and 89-252, Laws of Florida. Each such county and each
338	eligible jurisdiction within such county shall not be eligible
339	to participate in programs funded pursuant to s. 201.15(6).
340	However, each such county and each eligible jurisdiction within
341	such county shall be eligible to participate in programs funded
342	pursuant to s. 201.15(7).
343	Section 5. Paragraph (a) of subsection (2) of section
344	259.032, Florida Statutes, is amended to read:
345	259.032 Conservation and Recreation Lands Trust Fund;
346	purpose.--
347	(2)(a) The Conservation and Recreation Lands Trust Fund is
348	established within the Department of Environmental Protection.
349	The fund shall be used as a nonlapsing, revolving fund
350	exclusively for the purposes of this section. The fund shall be
351	credited with proceeds from the following excise taxes:
352	1. The excise taxes on documents and other funds
353	distributed to the trust fund as provided in s. 201.15.; and
354	2. The excise tax on the severance of phosphate rock as
355	provided in s. 211.3103.
356
357	The Department of Revenue shall credit to the fund each month
358	the proceeds from such taxes as provided in this paragraph.
359	Section 6. Subsection (4) of section 369.252, Florida
360	Statutes, is amended to read:
361	369.252 Invasive exotic plant control on public
362	lands.--The department shall establish a program to:
363	(4) Use funds in the Invasive Plant Control Trust Fund as
364	authorized by the Legislature for carrying out activities under
365	this section on public lands. Twenty percent of the amount
366	credited to the Invasive Plant Control Trust Fund pursuant to s.
367	201.15(6) shall be used for the purpose of controlling
368	nonnative, upland, invasive plant species on public lands.
369	Section 7. Section 370.0603, Florida Statutes, is amended
370	to read:
371	370.0603 Marine Resources Conservation Trust Fund;
372	purposes.--
373	(1) The Marine Resources Conservation Trust Fund within
374	the Fish and Wildlife Conservation Commission shall serve as a
375	broad-based depository for funds from various marine-related
376	activities and shall be administered by the commission for the
377	purposes of:
378	(a) Funding for marine research.
379	(b) Funding for fishery enhancement, including, but not
380	limited to, fishery statistics development, artificial reefs,
381	and fish hatcheries.
382	(c) Funding for marine law enforcement.
383	(d) Funding for administration of licensing programs for
384	recreational fishing, saltwater products sales, and related
385	information and education activities.
386	(e) Funding for the operations of the Fish and Wildlife
387	Conservation Commission.
388	(f) Funding for titling and registration of vessels.
389	(g) Funding for marine turtle protection, research, and
390	recovery activities from revenues that are specifically credited
391	to the trust fund for these purposes.
392	(h) Funding activities for rehabilitation of oyster
393	harvesting areas from which special oyster surcharge fees are
394	collected, including relaying and transplanting live oysters.
395	(2) The Marine Resources Conservation Trust Fund shall
396	receive the proceeds from:
397	(a) All license fees collected pursuant to ss. 370.06 and
398	370.07.
399	(b) All funds collected from the registration of vessels
400	and other fees pursuant to s. 328.72.
401	(c) All fees collected pursuant to ss. 370.063, 370.142,
402	and 372.5704.
403	(d) All fines and penalties pursuant to s. 370.021.
404	(e) Other revenues as provided by law.
405	(3) Funds provided to the Marine Resources Conservation
406	Trust Fund from taxes distributed under s. 201.15(11) shall be
407	used for the following purposes:
408	(a) To reimburse the cost of activities authorized
409	pursuant to the Fish and Wildlife Service of the United States
410	Department of the Interior. Such facilities must be involved in
411	the actual rescue and full-time acute care veterinarian-based
412	rehabilitation of manatees. The cost of activities includes, but
413	is not limited to, costs associated with expansion, capital
414	outlay, repair, maintenance, and operation related to the
415	rescue, treatment, stabilization, maintenance, release, and
416	monitoring of manatees. Moneys distributed through the
417	contractual agreement to each facility for manatee
418	rehabilitation must be proportionate to the number of manatees
419	under acute care rehabilitation; the number of maintenance days
420	medically necessary in the facility; and the number released
421	during the previous fiscal year. The commission may set a cap on
422	the total amount reimbursed per manatee per year.
423	(b) For training on the care, treatment, and
424	rehabilitation of marine mammals at the Whitney Laboratory and
425	the College of Veterinary Medicine at the University of Florida.
426	(c) For program administration costs of the agency.
427	(d) Funds not distributed in any 1 fiscal year must be
428	carried over for distribution in subsequent years.
429	Section 8. Subsection (1) of section 375.075, Florida
430	Statutes, is amended to read:
431	375.075 Outdoor recreation; financial assistance to local
432	governments.--
433	(1) The Department of Environmental Protection is
434	authorized to establish the Florida Recreation Development
435	Assistance Program to provide grants to qualified local
436	governmental entities to acquire or develop land for public
437	outdoor recreation purposes. To the extent not needed for debt
438	service on bonds issued pursuant to s. 375.051, each year the
439	department shall develop and plan a program which shall be based
440	upon funding of not less than 5 percent of the money credited to
441	the Land Acquisition Trust Fund pursuant to s. 201.15(2) and (3)
442	in that year. Beginning fiscal year 2001-2002,The department
443	shall develop and plan a program which shall be based upon the
444	cumulative total funding provided from this section and from the
445	Florida Forever Trust Fund pursuant to s. 259.105(3)(c).
446	Section 9. Subsections (5) and (6) of section 420.5092,
447	Florida Statutes, are amended to read:
448	420.5092 Florida Affordable Housing Guarantee Program.--
449	(5) Pursuant to s. 16, Art. VII of the State Constitution,
450	the corporation may issue, in accordance with s. 420.509,
451	revenue bonds of the corporation to establish the guarantee
452	fund. Such revenue bonds shall be primarily payable from and
453	secured by annual debt service reserves, from interest earned on
454	funds on deposit in the guarantee fund, from fees, charges, and
455	reimbursements established by the corporation for the issuance
456	of affordable housing guarantees, and from any other revenue
457	sources received by the corporation and deposited by the
458	corporation into the guarantee fund for the issuance of
459	affordable housing guarantees. To the extent such primary
460	revenue sources are considered insufficient by the corporation,
461	pursuant to the certification provided in subsection (6), to
462	fully fund the annual debt service reserve, the certified
463	deficiency in such reserve shall be additionally payable from
464	the distributions of documentary stamp tax proceeds pursuant to
465	s. 201.15(3)firstproceeds of the documentary stamp tax moneys
466	deposited into the State Housing Trust Fund pursuant to s.
467	201.15(9)(a) and (10)(a)during the ensuing state fiscal year.
468	(6)(a) If the primary revenue sources to be used for
469	repayment of revenue bonds used to establish the guarantee fund
470	are insufficient for such repayment, the annual principal and
471	interest due on each series of revenue bonds shall be payable
472	from funds in the annual debt service reserve. The corporation
473	shall, before June 1 of each year, perform a financial audit to
474	determine whether at the end of the state fiscal year there will
475	be on deposit in the guarantee fund an annual debt service
476	reserve from interest earned pursuant to the investment of the
477	guarantee fund, fees, charges, and reimbursements received from
478	issued affordable housing guarantees and other revenue sources
479	available to the corporation. Based upon the findings in such
480	guarantee fund financial audit, the corporation shall certify to
481	the Chief Financial OfficerComptrollerthe amount of any
482	projected deficiency in the annual debt service reserve for any
483	series of outstanding bonds as of the end of the state fiscal
484	year and the amount necessary to maintain such annual debt
485	service reserve. Upon receipt of such certification, the Chief
486	Financial OfficerComptrollershall transfer to the annual debt
487	service reserve, from the distributions of documentary stamp tax
488	proceeds pursuant to s. 201.15(3)first available taxes
489	distributed to the State Housing Trust Fund pursuant to s.
490	201.15(9)(a) and (10)(a)during the ensuing state fiscal year,
491	the amount certified as necessary to maintain the annual debt
492	service reserve.
493	(b) If the claims payment obligations under affordable
494	housing guarantees from amounts on deposit in the guarantee fund
495	would cause the claims paying rating assigned to the guarantee
496	fund to be less than the third-highest rating classification of
497	any nationally recognized rating service, which classifications
498	being consistent with s. 215.84(3) and rules adopted thereto by
499	the State Board of Administration, the corporation shall certify
500	to the Chief Financial OfficerComptrollerthe amount of such
501	claims payment obligations. Upon receipt of such certification,
502	the Chief Financial OfficerComptrollershall transfer to the
503	guarantee fund, from the distributions of documentary stamp tax
504	proceeds pursuant to s. 201.15(3)first available taxes
505	distributed to the State Housing Trust Fund pursuant to s.
506	201.15(9)(a) and (10)(a)during the ensuing state fiscal year,
507	the amount certified as necessary to meet such obligations, such
508	transfer to be subordinate to any transfer referenced in
509	paragraph (a) and not to exceed 50 percent of the maximum
510	possible distributions of documentary stamp tax proceeds
511	pursuant to s. 201.15(3)amounts distributed to the State
512	Housing Trust Fund pursuant to s. 201.15(9)(a) and (10)(a)
513	during the preceding state fiscal year.
514	Section 10. Section 420.9073, Florida Statutes, is amended
515	to read:
516	420.9073 Local housing distributions.--
517	(1) Distributions from the Local Government Housing Trust
518	Fundcalculated in this sectionshall be disbursed on a monthly
519	basis by the corporation beginning the first day of the month
520	after program approval pursuant to s. 420.9072. Each county's
521	share of the funds to be distributed from the portion of the
522	funds in the Local Government Housing Trust fund received
523	pursuant to s. 201.15(9)shall be calculated by the corporation
524	for each fiscal year as provided in the General Appropriations
525	Act.follows:
526	(a) Each county other than a county that has implemented
527	the provisions of chapter 83-220, Laws of Florida, as amended by
528	chapters 84-270, 86-152, and 89-252, Laws of Florida, shall
529	receive the guaranteed amount for each fiscal year.
530	(b) Each county other than a county that has implemented
531	the provisions of chapter 83-220, Laws of Florida, as amended by
532	chapters 84-270, 86-152, and 89-252, Laws of Florida, may
533	receive an additional share calculated as follows:
534	1. Multiply each county's percentage of the total state
535	population excluding the population of any county that has
536	implemented the provisions of chapter 83-220, Laws of Florida,
537	as amended by chapters 84-270, 86-152, and 89-252, Laws of
538	Florida, by the total funds to be distributed.
539	2. If the result in subparagraph 1. is less than the
540	guaranteed amount as determined in subsection (3), that county's
541	additional share shall be zero.
542	3. For each county in which the result in subparagraph 1.
543	is greater than the guaranteed amount as determined in
544	subsection (3), the amount calculated in subparagraph 1. shall
545	be reduced by the guaranteed amount. The result for each such
546	county shall be expressed as a percentage of the amounts so
547	determined for all counties. Each such county shall receive an
548	additional share equal to such percentage multiplied by the
549	total funds received by the Local Government Housing Trust Fund
550	pursuant to s. 201.15(9) reduced by the guaranteed amount paid
551	to all counties.
552	(2) Effective July 1, 1995, distributions calculated in
553	this section shall be disbursed on a monthly basis by the
554	corporation beginning the first day of the month after program
555	approval pursuant to s. 420.9072. Each county's share of the
556	funds to be distributed from the portion of the funds in the
557	Local Government Housing Trust Fund received pursuant to s.
558	201.15(10) shall be calculated by the corporation for each
559	fiscal year as follows:
560	(a) Each county shall receive the guaranteed amount for
561	each fiscal year.
562	(b) Each county may receive an additional share calculated
563	as follows:
564	1. Multiply each county's percentage of the total state
565	population, by the total funds to be distributed.
566	2. If the result in subparagraph 1. is less than the
567	guaranteed amount as determined in subsection (3), that county's
568	additional share shall be zero.
569	3. For each county in which the result in subparagraph 1.
570	is greater than the guaranteed amount, the amount calculated in
571	subparagraph 1. shall be reduced by the guaranteed amount. The
572	result for each such county shall be expressed as a percentage
573	of the amounts so determined for all counties. Each such county
574	shall receive an additional share equal to this percentage
575	multiplied by the total funds received by the Local Government
576	Housing Trust Fund pursuant to s. 201.15(10) as reduced by the
577	guaranteed amount paid to all counties.
578	(3) Calculation of guaranteed amounts:
579	(a) The guaranteed amount under subsection (1) shall be
580	calculated for each state fiscal year by multiplying $350,000 by
581	a fraction, the numerator of which is the amount of funds
582	distributed to the Local Government Housing Trust Fund pursuant
583	to s. 201.15(9) and the denominator of which is the total amount
584	of funds distributed to the Local Government Housing Trust Fund
585	pursuant to s. 201.15.
586	(b) The guaranteed amount under subsection (2) shall be
587	calculated for each state fiscal year by multiplying $350,000 by
588	a fraction, the numerator of which is the amount of funds
589	distributed to the Local Government Housing Trust Fund pursuant
590	to s. 201.15(10) and the denominator of which is the total
591	amount of funds distributed to the Local Government Housing
592	Trust Fund pursuant to s. 201.15.
593	(4)Funds distributed pursuant to this section may not be
594	pledged to pay debt service on any bonds.
595	Section 11. Section 420.9078, Florida Statutes, is amended
596	to read:
597	420.9078 State administration of remaining local housing
598	distribution funds.--When appropriated funds remain in the Local
599	Government Housing Trust Fund, the corporation shall distribute
600	the remaining funds as follows:
601	(1) The corporation shall distribute all remaining funds
602	proportionately as provided in s. 420.9073(2)(b)among counties
603	and eligible municipalities for which an emergency or natural
604	disaster has been declared by executive order and which have an
605	approved local housing assistance plan to implement a local
606	housing assistance strategy, consistent with ss. 420.907-
607	420.9079, for repairing and replacing housing damaged as a
608	result of the emergency or natural disaster.
609	(2) If subsection (1) does not apply, the corporation
610	shall distribute the remaining funds proportionately as provided
611	in ss. 420.9072 and 420.9073(2)(b)among all counties and
612	eligible municipalities that have fully expended their local
613	housing distributions for the immediately preceding state fiscal
614	year on eligible activities and have an approved local housing
615	assistance plan. A county or eligible municipality that receives
616	local housing distributions pursuant to this subsection shall
617	expend those funds in accordance with the provisions of ss.
618	420.907-420.9079, corporation rule, and its local housing
619	assistance plan.
620	Section 12. Subsection (1) of section 420.9079, Florida
621	Statutes, is amended to read:
622	420.9079 Local Government Housing Trust Fund.--
623	(1) There is created in the State Treasury the Local
624	Government Housing Trust Fund, which shall be administered by
625	the corporation on behalf of the department according to the
626	provisions of ss. 420.907-420.9078 and this section. There shall
627	be deposited into the fund a portion of the documentary stamp
628	tax revenues as provided in s. 201.15,moneys received from any
629	other source for the purposes of ss. 420.907-420.9078 and this
630	section,and all proceeds derived from the investment of such
631	moneys. Moneys in the fund that are not currently needed for the
632	purposes of the programs administered pursuant to ss. 420.907-
633	420.9078 and this section shall be deposited to the credit of
634	the fund and may be invested as provided by law. The interest
635	received on any such investment shall be credited to the fund.
636	Section 13. If any law amended by this act was also
637	amended by a law enacted at the 2003 Regular Session of the
638	Legislature, such laws shall be construed as if they had been
639	enacted at the same session of the Legislature, and full effect
640	shall be given to each if possible.
641	Section 14. This act shall take effect July 1, 2004.