Florida Senate - 2008 SB 1622

By Senator Deutch

30-02945-08 20081622__

1

A bill to be entitled

2

An act relating to nonprofit cooperative associations;

3

creating s. 619.10, F.S.; requiring transfers of ownership

4

interests in such associations to be recorded; amending s.

5

201.02, F.S.; requiring the document excise tax on such

6

transfers to be based upon the true amount of

7

consideration paid; providing an effective date.

8

9

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

10

11

     Section 1.  Section 619.10, Florida Statutes, is created to

12

read:

13

     619.10 Recording transfers of ownership interests.--The

14

full consideration paid in a transfer of an ownership interest in

15

an association formed under this chapter, including transfers of

16

cooperative property, assignments of proprietary leases,

17

transfers of cooperative stock, and cooperative certificates of

18

occupancy and lease, must be stated in the recorded documents

19

transferring the ownership interest.

20

     Section 2.  Subsection (11) is added to section 201.02,

21

Florida Statutes, to read:

22

     201.02  Tax on deeds and other instruments relating to real

23

property or interests in real property.--

24

     (11) The tax imposed upon transfers of ownership interests

25

which are recorded pursuant to s. 619.10 shall be based upon the

26

true amount of the consideration paid.

27

     Section 3.  This act shall take effect July 1, 2008.

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