HB 1889

1	A bill to be entitled
2	An act relating to the distribution of proceeds from the
3	excise tax on documents; amending s. 201.15, F.S.;
4	revising monetary criteria for distributing portions of
5	the tax to certain trust funds; requiring that proceeds of
6	the tax in excess of specified amounts be deposited into
7	the General Revenue Fund; providing for increased
8	distributions to certain trust funds under certain
9	circumstances to provide for payments on bonds; revising
10	monetary criteria for distributing portions of the tax to
11	the State Housing Trust Fund and the Local Government
12	Housing Trust Fund for purposes of preserving the rights
13	of holders of affordable housing guarantees; requiring
14	distributions to the State Housing Trust Fund to be
15	sufficient for certain purposes; making appropriations;
16	authorizing the Florida Housing Finance Corporation to
17	adopt emergency rules; providing legislative findings;
18	exempting such emergency rules from the requirements of s.
19	120.54, F.S., relating to the effective time period for
20	emergency rules; providing an effective date.
21
22	Be It Enacted by the Legislature of the State of Florida:
23
24	Section 1.  Section 201.15, Florida Statutes, is amended to
25	read:
26	201.15  Distribution of taxes collected.--All taxes
27	collected under this chapter shall be distributed as follows and
28	shall be subject to the service charge imposed in s. 215.20(1),
29	except that such service charge shall not be levied against any
30	portion of taxes pledged to debt service on bonds to the extent
31	that the amount of the service charge is required to pay any
32	amounts relating to the bonds:
33	(1)  Sixty-two and sixty-three hundredths percent of the
34	remaining taxes collected under this chapter shall be used for
35	the following purposes:
36	(a)  Amounts as shall be necessary to pay the debt service
37	on, or fund debt service reserve funds, rebate obligations, or
38	other amounts payable with respect to Preservation 2000 bonds
39	issued pursuant to s. 375.051 and Florida Forever bonds issued
40	pursuant to s. 215.618, shall be paid into the State Treasury to
41	the credit of the Land Acquisition Trust Fund to be used for
42	such purposes. The amount transferred to the Land Acquisition
43	Trust Fund for such purposes shall not exceed $300 million in
44	fiscal year 1999-2000 and thereafter for Preservation 2000 bonds
45	and bonds issued to refund Preservation 2000 bonds, and $300
46	million in fiscal year 2000-2001 and thereafter for Florida
47	Forever bonds. The annual amount transferred to the Land
48	Acquisition Trust Fund for Florida Forever bonds shall not
49	exceed $30 million in the first fiscal year in which bonds are
50	issued. The limitation on the amount transferred shall be
51	increased by an additional $30 million in each subsequent fiscal
52	year, but shall not exceed a total of $300 million in any fiscal
53	year for all bonds issued. It is the intent of the Legislature
54	that all bonds issued to fund the Florida Forever Act be retired
55	by December 31, 2030. Except for bonds issued to refund
56	previously issued bonds, no series of bonds may be issued
57	pursuant to this paragraph unless such bonds are approved and
58	the debt service for the remainder of the fiscal year in which
59	the bonds are issued is specifically appropriated in the General
60	Appropriations Act. For purposes of refunding Preservation 2000
61	bonds, amounts designated within this section for Preservation
62	2000 and Florida Forever bonds may be transferred between the
63	two programs to the extent provided for in the documents
64	authorizing the issuance of the bonds. The Preservation 2000
65	bonds and Florida Forever bonds shall be equally and ratably
66	secured by moneys distributable to the Land Acquisition Trust
67	Fund pursuant to this section, except to the extent specifically
68	provided otherwise by the documents authorizing the issuance of
69	the bonds. No moneys transferred to the Land Acquisition Trust
70	Fund pursuant to this paragraph, or earnings thereon, shall be
71	used or made available to pay debt service on the Save Our Coast
72	revenue bonds.
73	(b)  The remainder of the moneys distributed under this
74	subsection, after the required payment under paragraph (a),
75	shall be paid into the State Treasury to the credit of the Save
76	Our Everglades Trust Fund in amounts necessary to pay debt
77	service, provide reserves, and pay rebate obligations and other
78	amounts due with respect to bonds issued under s. 215.619.
79	(c)  The remainder of the moneys distributed under this
80	subsection, after the required payments under paragraphs (a) and
81	(b), shall be paid into the State Treasury to the credit of the
82	Land Acquisition Trust Fund and may be used for any purpose for
83	which funds deposited in the Land Acquisition Trust Fund may
84	lawfully be used. Payments made under this paragraph shall
85	continue until the cumulative amount credited to the Land
86	Acquisition Trust Fund for the fiscal year under this paragraph
87	and paragraph (2)(b) equals 70 percent of the current official
88	forecast for distributions of taxes collected under this chapter
89	pursuant to subsection (2). As used in this paragraph, the term
90	"current official forecast" means the most recent forecast as
91	determined by the Revenue Estimating Conference. If the current
92	official forecast for a fiscal year changes after payments under
93	this paragraph have ended during that fiscal year, no further
94	payments are required under this paragraph during the fiscal
95	year.
96	(d)  The remainder of the moneys distributed under this
97	subsection, after the required payments under paragraphs (a),
98	(b), and (c), shall be paid into the State Treasury to the
99	credit of the General Revenue Fund of the state to be used and
100	expended for the purposes for which the General Revenue Fund was
101	created and exists by law or to the Ecosystem Management and
102	Restoration Trust Fund or to the Marine Resources Conservation
103	Trust Fund as provided in subsection (11).
104	(2)  The lesser of seven and fifty-six hundredths percent
105	of the remaining taxes collected under this chapter or $84.9
106	million in each fiscal year shall be used for the following
107	purposes:
108	(a)  Beginning in the month following the final payment for
109	a fiscal year under paragraph (1)(c), available moneys shall be
110	paid into the State Treasury to the credit of the General
111	Revenue Fund of the state to be used and expended for the
112	purposes for which the General Revenue Fund was created and
113	exists by law or to the Ecosystem Management and Restoration
114	Trust Fund or to the Marine Resources Conservation Trust Fund as
115	provided in subsection (11). Payments made under this paragraph
116	shall continue until the cumulative amount credited to the
117	General Revenue Fund for the fiscal year under this paragraph
118	equals the cumulative payments made under paragraph (1)(c) for
119	the same fiscal year.
120	(b)  The remainder of the moneys distributed under this
121	subsection shall be paid into the State Treasury to the credit
122	of the Land Acquisition Trust Fund. Sums deposited in the fund
123	pursuant to this subsection may be used for any purpose for
124	which funds deposited in the Land Acquisition Trust Fund may
125	lawfully be used.
126	(3)  The lesser of one and ninety-four hundredths percent
127	of the remaining taxes collected under this chapter or $26
128	million in each fiscal year shall be paid into the State
129	Treasury to the credit of the Land Acquisition Trust Fund.
130	Moneys deposited in the trust fund pursuant to this section
131	shall be used for the following purposes:
132	(a)  Sixty percent of the moneys shall be used to acquire
133	coastal lands or to pay debt service on bonds issued to acquire
134	coastal lands; and
135	(b)  Forty percent of the moneys shall be used to develop
136	and manage lands acquired with moneys from the Land Acquisition
137	Trust Fund.
138	(4)  The lesser of four and two-tenths percent of the
139	remaining taxes collected under this chapter or $60.5 million in
140	each fiscal year shall be paid into the State Treasury to the
141	credit of the Water Management Lands Trust Fund. Sums deposited
142	in that fund may be used for any purpose authorized in s.
143	373.59.
144	(5)  Four and two-tenths percent of the remaining taxes
145	collected under this chapter shall be paid into the State
146	Treasury to the credit of the Conservation and Recreation Lands
147	Trust Fund to carry out the purposes set forth in s. 259.032.
148	Nine and one-half percent of the amount credited to the
149	Conservation and Recreation Lands Trust Fund pursuant to this
150	subsection shall be transferred to the State Game Trust Fund and
151	used for land management activities.
152	(6)  The lesser of two and twenty-eight hundredths percent
153	of the remaining taxes collected under this chapter or $36.1
154	million in each fiscal year shall be paid into the State
155	Treasury to the credit of the Invasive Plant Control Trust Fund
156	to carry out the purposes set forth in ss. 369.22 and 369.252.
157	(7)  The lesser of one-half of one percent of the remaining
158	taxes collected under this chapter or $9.3 million in each
159	fiscal year shall be paid into the State Treasury to the credit
160	of the State Game Trust Fund to be used exclusively for the
161	purpose of implementing the Lake Restoration 2020 Program.
162	(8)  One-half of one percent of the remaining taxes
163	collected under this chapter shall be paid into the State
164	Treasury and divided equally to the credit of the Department of
165	Environmental Protection Water Quality Assurance Trust Fund to
166	address water quality impacts associated with nonagricultural
167	nonpoint sources and to the credit of the Department of
168	Agriculture and Consumer Services General Inspection Trust Fund
169	to address water quality impacts associated with agricultural
170	nonpoint sources, respectively. These funds shall be used for
171	research, development, demonstration, and implementation of
172	suitable best management practices or other measures used to
173	achieve water quality standards in surface waters and water
174	segments identified pursuant to ss. 303(d) of the Clean Water
175	Act, Pub. L. No. 92-500, 33 U.S.C. ss. 1251 et seq.
176	Implementation of best management practices and other measures
177	may include cost-share grants, technical assistance,
178	implementation tracking, and conservation leases or other
179	agreements for water quality improvement. The Department of
180	Environmental Protection and the Department of Agriculture and
181	Consumer Services may adopt rules governing the distribution of
182	funds for implementation of best management practices. The
183	unobligated balance of funds received from the distribution of
184	taxes collected under this chapter to address water quality
185	impacts associated with nonagricultural nonpoint sources will be
186	excluded when calculating the unobligated balance of the Water
187	Quality Assurance Trust Fund as it relates to the determination
188	of the applicable excise tax rate.
189	(9)  The lesser of seven and fifty-three hundredths percent
190	of the remaining taxes collected under this chapter or $107
191	million in each fiscal year shall be paid into the State
192	Treasury to the credit of the State Housing Trust Fund and shall
193	be used as follows:
194	(a)  Half of that amount shall be used for the purposes for
195	which the State Housing Trust Fund was created and exists by
196	law.
197	(b)  Half of that amount shall be paid into the State
198	Treasury to the credit of the Local Government Housing Trust
199	Fund and shall be used for the purposes for which the Local
200	Government Housing Trust Fund was created and exists by law.
201	(10)  The lessor of eight and sixty-six hundredths percent
202	of the remaining taxes collected under this chapter or $136
203	million in each fiscal year shall be paid into the State
204	Treasury to the credit of the State Housing Trust Fund and shall
205	be used as follows:
206	(a)  Twelve and one-half percent of that amount shall be
207	deposited into the State Housing Trust Fund and be expended by
208	the Department of Community Affairs and by the Florida Housing
209	Finance Corporation for the purposes for which the State Housing
210	Trust Fund was created and exists by law.
211	(b)  Eighty-seven and one-half percent of that amount shall
212	be distributed to the Local Government Housing Trust Fund and
213	shall be used for the purposes for which the Local Government
214	Housing Trust Fund was created and exists by law. Funds from
215	this category may also be used to provide for state and local
216	services to assist the homeless.
217	(11)  From the moneys specified in paragraphs (1)(d) and
218	(2)(a) and prior to deposit of any moneys into the General
219	Revenue Fund, $30 million shall be paid into the State Treasury
220	to the credit of the Ecosystem Management and Restoration Trust
221	Fund in fiscal year 2000-2001 and each fiscal year thereafter,
222	to be used for the preservation and repair of the state's
223	beaches as provided in ss. 161.091-161.212, and $2 million shall
224	be paid into the State Treasury to the credit of the Marine
225	Resources Conservation Trust Fund to be used for marine mammal
226	care as provided in s. 370.0603(3).
227	(12)  The Department of Revenue may use the payments
228	credited to trust funds pursuant to paragraphs (1)(c) and (2)(b)
229	and subsections (3), (4), (5), (6), (7), (8), (9), and (10) to
230	pay the costs of the collection and enforcement of the tax
231	levied by this chapter. The percentage of such costs which may
232	be assessed against a trust fund is a ratio, the numerator of
233	which is payments credited to that trust fund under this section
234	and the denominator of which is the sum of payments made under
235	paragraphs (1)(c) and (2)(b) and subsections (3), (4), (5), (6),
236	(7), (8), (9), and (10).
237	(13)  The distribution of proceeds deposited into the Water
238	Management Lands Trust Fund and the Conservation and Recreation
239	Lands Trust Fund, pursuant to subsections (4) and (5), shall not
240	be used for land acquisition, but may be used for preacquisition
241	costs associated with land purchases.  The Legislature intends
242	that the Florida Forever program supplant the acquisition
243	programs formerly authorized under ss. 259.032 and 373.59. Prior
244	to the 2005 Regular Session of the Legislature, the Acquisition
245	and Restoration Council shall review and make recommendations to
246	the Legislature concerning the need to repeal this provision.
247	Based on these recommendations, the Legislature shall review the
248	need to repeal this provision during the 2005 Regular Session.
249	(14)  Amounts distributed pursuant to subsections (5), (6),
250	(7) and (8) are subject to the payment of debt service on
251	outstanding Conservation and Recreation Lands revenue bonds.
252	(15)  Beginning July 1, 2008, in each fiscal year that the
253	remaining taxes collected under this chapter exceed such
254	collections in the prior fiscal year, the stated maximum dollar
255	amounts provided in subsections (2), (4), (6), (7), (9), and
256	(10) shall each be increased by an amount equal to 10 percent of
257	the increase in the remaining taxes collected under this chapter
258	multiplied by the applicable percentage provided in those
259	subsections.
260	(16) If the payment requirements in any year for bonds
261	outstanding on July 1, 2007, or bonds issued to refund such
262	bonds, exceed the limitations of this section, distributions to
263	the trust fund from which the bond payments are made shall be
264	increased to the lesser of the amount needed to pay bond
265	obligations or the limit of the applicable percentage
266	distribution provided in subsections (1)-(12).
267	(17)  Distributions to the State Housing Trust Fund
268	pursuant to subsections (9) and (10) shall be sufficient to
269	cover amounts required to be transferred to the Florida
270	Affordable Housing Guarantee Program's annual debt service
271	reserve and guarantee fund pursuant to s. 420.5092(6)(a) and (b)
272	up to but not exceeding the amount required to be transferred to
273	such reserve and fund based on the percentage distribution of
274	documentary stamp tax revenues to the State Housing Trust Fund
275	which is in effect in the 2004-2005 fiscal year.
276	(18)  The remaining taxes collected under this chapter,
277	after the distributions provided in the preceding subsections,
278	shall be paid into the State Treasury to the credit of the
279	General Revenue Fund.
280	Section 2.  Effective July 1, 2005, there is appropriated
281	for the 2005-2006 fiscal year to the Florida Housing Finance
282	Corporation $175.5 million from the Local Government Housing
283	Trust Fund and $74.5 million from the State Housing Trust Fund
284	for the purpose of providing funds to eligible entities for
285	affordable housing recovery efforts as recommended by the
286	Hurricane Housing Work Group. From these funds, $208,000,000
287	shall be for the Hurricane Housing Recovery Program and shall be
288	allocated as described in Appendix 1, Table 3 of the Hurricane
289	Housing Work Group Recommendations to Assist in Florida's Long
290	Term Housing Recovery Efforts report dated February 16, 2005, as
291	follows: $165,984,000 for Tier I counties, $31,122,000 for Tier
292	II counties, $10,374,000 for Tier III counties, and $520,000 to
293	the Florida Housing Finance Corporation for compliance
294	monitoring. From these funds, an additional $42,000,000 shall be
295	provided for the Rental Recovery Loan Program, as described in
296	the Hurricane Housing Work Group Recommendations to Assist in
297	Florida's Long Term Housing Recovery Efforts report dated
298	February 16, 2005, to assist with building and rehabilitating
299	affordable rental housing to help communities respond to
300	hurricane-recovery needs.
301	Section 3.  To administer section 2 of this act, the
302	Florida Housing Finance Corporation may adopt emergency rules
303	pursuant to section 120.54, Florida Statutes. The Legislature
304	finds that emergency rules adopted pursuant to this section meet
305	the health, safety, and welfare requirement of section
306	120.54(4), Florida Statutes. The Legislature finds that such
307	emergency rulemaking power is necessary for the preservation of
308	the rights and welfare of the people in order to provide
309	additional funds to assist those areas of the state which
310	sustained housing damage due to hurricanes during 2004.
311	Therefore, in adopting such emergency rules, the corporation
312	need not make the findings required by section 120.54(4)(a),
313	Florida Statutes. Emergency rules adopted under this section are
314	exempt from section 120.54(4)(c), Florida Statutes, and shall
315	remain in effect for 180 days.
316	Section 4.  Except as otherwise expressly provided in this
317	act, this act shall take effect July 1, 2007.

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