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A bill to be entitled

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An act relating to distribution of proceeds from excise

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taxes on documents; amending s. 201.15, F.S.; removing a

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limitation on the amount of such proceeds which may be

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deposited into the State Housing Trust Fund on or after a

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specified date; 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.  Subsections (9), (10), (15), (17), and (18) of

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

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

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Florida, are amended to read:

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     201.15  Distribution of taxes collected.--All taxes

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collected under this chapter shall be distributed as follows and

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shall be subject to the service charge imposed in s. 215.20(1),

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except that such service charge shall not be levied against any

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portion of taxes pledged to debt service on bonds to the extent

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that the amount of the service charge is required to pay any

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amounts relating to the bonds:

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

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of the remaining taxes collected under this chapter or $107

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million in each fiscal year shall be paid into the State Treasury

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to the credit of the State Housing Trust Fund and shall be used

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as follows:

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

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which the State Housing Trust Fund was created and exists by law.

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

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Treasury to the credit of the Local Government Housing Trust Fund

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and shall be used for the purposes for which the Local Government

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Housing Trust Fund was created and exists by law.

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

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of the remaining taxes collected under this chapter or $136

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million in each fiscal year shall be paid into the State Treasury

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to the credit of the State Housing Trust Fund and shall be used

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as follows:

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

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deposited into the State Housing Trust Fund and be expended by

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the Department of Community Affairs and by the Florida Housing

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Finance Corporation for the purposes for which the State Housing

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Trust Fund was created and exists by law.

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

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be distributed to the Local Government Housing Trust Fund and

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shall be used for the purposes for which the Local Government

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Housing Trust Fund was created and exists by law. Funds from this

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category may also be used to provide for state and local services

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to assist the homeless.

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

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remaining taxes collected under this chapter exceed such

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collections in the prior fiscal year, the stated maximum dollar

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amounts provided in subsections (2), (4), (6), and (7), (9), and

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(10) shall each be increased by an amount equal to 10 percent of

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the increase in the remaining taxes collected under this chapter

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multiplied by the applicable percentage provided in those

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subsections.

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     (17) Distributions to the State Housing Trust Fund pursuant

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to subsections (9) and (10) shall be sufficient to cover amounts

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required to be transferred to the Florida Affordable Housing

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Guarantee Program's annual debt service reserve and guarantee

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fund pursuant to s. 420.5092(6)(a) and (b) up to but not

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exceeding the amount required to be transferred to such reserve

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and fund based on the percentage distribution of documentary

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stamp tax revenues to the State Housing Trust Fund which is in

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effect in the 2004-2005 fiscal year.

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     (17)(18) The remaining taxes collected under this chapter,

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after the distributions provided in the preceding subsections,

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shall be paid into the State Treasury to the credit of the

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General Revenue Fund.

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     Section 2.  This act shall take effect July 1, 2008.