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A bill to be entitled

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An act relating to nonprofit cooperative associations;

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

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interests in such associations to be recorded; amending s.

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

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transfers to be based upon the true amount of

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consideration paid; providing an effective date.

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

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

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read:

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     619.10 Recording transfers of ownership interests.--The

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full consideration paid in a transfer of an ownership interest in

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an association formed under this chapter, including transfers of

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cooperative property, assignments of proprietary leases,

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transfers of cooperative stock, and cooperative certificates of

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occupancy and lease, must be stated in the recorded documents

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transferring the ownership interest.

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

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Florida Statutes, to read:

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     201.02  Tax on deeds and other instruments relating to real

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property or interests in real property.--

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     (11) The tax imposed upon transfers of ownership interests

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

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true amount of the consideration paid.

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