Senate Bill sb0144

    Florida Senate - 2007                                   SB 144

    By Senator King





    8-133A-07

  1                      A bill to be entitled

  2         An act relating to affordable housing; amending

  3         s. 201.15, F.S.; removing a cap on certain

  4         funds distributed to the State Housing Trust

  5         Fund; providing an effective date.

  6  

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

  8  

  9         Section 1.  Subsections (9), (10), and (15) of section

10  201.15, Florida Statutes, as amended by section 1 of chapter

11  2005-92 and section 22 of chapter 2006-1, Laws of Florida, are

12  amended to read:

13         201.15  Distribution of taxes collected.--All taxes

14  collected under this chapter shall be distributed as follows

15  and shall be subject to the service charge imposed in s.

16  215.20(1), except that such service charge shall not be levied

17  against any portion of taxes pledged to debt service on bonds

18  to the extent that the amount of the service charge is

19  required to pay any amounts relating to the bonds:

20         (9)  The lesser of Seven and fifty-three hundredths

21  percent of the remaining taxes collected under this chapter or

22  $107 million in each fiscal year shall be paid into the State

23  Treasury to the credit of the State Housing Trust Fund and

24  shall be used as follows:

25         (a)  Half of that amount shall be used for the purposes

26  for which the State Housing Trust Fund was created and exists

27  by law.

28         (b)  Half of that amount shall be paid into the State

29  Treasury to the credit of the Local Government Housing Trust

30  Fund and shall be used for the purposes for which the Local

31  Government Housing Trust Fund was created and exists by law.

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






    Florida Senate - 2007                                   SB 144
    8-133A-07




 1         (10)  The lesser of Eight and sixty-six hundredths

 2  percent of the remaining taxes collected under this chapter or

 3  $136 million in each fiscal year shall be paid into the State

 4  Treasury to the credit of the State Housing Trust Fund and

 5  shall be used as follows:

 6         (a)  Twelve and one-half percent of that amount shall

 7  be deposited into the State Housing Trust Fund and be expended

 8  by the Department of Community Affairs and by the Florida

 9  Housing Finance Corporation for the purposes for which the

10  State Housing Trust Fund was created and exists by law.

11         (b)  Eighty-seven and one-half percent of that amount

12  shall be distributed to the Local Government Housing Trust

13  Fund and shall be used for the purposes for which the Local

14  Government Housing Trust Fund was created and exists by law.

15  Funds from this category may also be used to provide for state

16  and local services to assist the homeless.

17         (15)  Beginning July 1, 2008, in each fiscal year that

18  the remaining taxes collected under this chapter exceed such

19  collections in the prior fiscal year, the stated maximum

20  dollar amounts provided in subsections (2), (4), (6), and (7),

21  (9), and (10) shall each be increased by an amount equal to 10

22  percent of the increase in the remaining taxes collected under

23  this chapter multiplied by the applicable percentage provided

24  in those subsections.

25         Section 2.  This act shall take effect July 1, 2007.

26  

27            *****************************************

28                          SENATE SUMMARY

29    Removes a cap on certain funds distributed to the State
      Housing Trust Fund.
30  

31  

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