Florida Senate - 2005 COMMITTEE AMENDMENT
Bill No. CS for SB 1110
Barcode 644740
CHAMBER ACTION
Senate House
.
.
1 .
.
2 .
.
3 .
.
4 ______________________________________________________________
5
6
7
8
9
10 ______________________________________________________________
11 The Committee on Ways and Means (Pruitt) recommended the
12 following amendment:
13
14 Senate Amendment (with title amendment)
15 On page 9, line 4, through page 9, line 24, delete
16 those lines
17
18 and insert: (15) Beginning July 1, 2008, in each fiscal year
19 that the remaining taxes collected under this chapter exceed
20 such collections in the prior fiscal year, the stated maximum
21 dollar amounts provided in subsections (2), (4), (6), (7),(9),
22 and (10) shall each be increased by an amount equal to 10
23 percent of the increase in the remaining taxes collected under
24 this chapter multiplied by the applicable percentage provided
25 in those subsections.
26 (16) If the payment requirements in any year for bonds
27 outstanding on July 1, 2007, or bonds issued to refund such
28 bonds, exceed the limitations of this section, distributions
29 to the trust fund from which the bond payments are made shall
30 be increased to the lesser of the amount needed to pay bond
31 obligations or the limit of the applicable percentage
1
9:54 AM 04/20/05 s1110.wm28.004
Florida Senate - 2005 COMMITTEE AMENDMENT
Bill No. CS for SB 1110
Barcode 644740
1 distribution provided in subsections (1)-(12).
2 (17) Distributions to the State Housing Trust Fund
3 pursuant to subsections (9) and (10) shall be sufficient to
4 cover amounts required to be transferred to the Florida
5 Affordable Housing Guarantee Program's annual debt service
6 reserve and guarantee fund pursuant to s. 420.5092(6)(a) and
7 (b) up to but not exceeding the amount required to be
8 transferred to such reserve and fund based on the percentage
9 distribution of documentary stamp tax revenues to the State
10 Housing Trust Fund which is in effect in the 2004-2005 fiscal
11 year.
12 (18) The remaining taxes collected under this chapter,
13 after the distributions provided in the preceding subsections,
14 shall be paid into the State Treasury to the credit of the
15 General Revenue Fund.
16 Section 2. For the purposes of sections 216.134 and
17 216.136, Florida Statutes, the recurring impact of this act
18 shall first be recognized in the 2007-08 fiscal year.
19 Section 3. Effective July 1, 2005, there is
20 appropriated for fiscal year 2005-2006 to the Florida Housing
21 Finance Corporation $175,500,000 from the Local Government
22 Housing Trust Fund and $74,500,000 from the State Housing
23 Trust Fund for the purpose of providing funds to eligible
24 entities for affordable housing recovery efforts as
25 recommended by the Hurricane Housing Work Group.
26 Section 4. Except as otherwise expressly provided in
27 this act, this act shall take effect July 1, 2007.
28
29
30 ================ T I T L E A M E N D M E N T ===============
31 And the title is amended as follows:
2
9:54 AM 04/20/05 s1110.wm28.004
Florida Senate - 2005 COMMITTEE AMENDMENT
Bill No. CS for SB 1110
Barcode 644740
1 On page 1, line 11, after the second semicolon
2
3 insert:
4 providing direction on the recurring impact;
5 making appropriations;
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
3
9:54 AM 04/20/05 s1110.wm28.004