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A bill to be entitled

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An act relating to the State Housing Trust Fund; amending

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s. 201.15, F.S.; revising provisions governing the

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distribution of a portion of the proceeds of the excise

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tax on documents to the State Housing Trust Fund;

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providing for the annual appropriation of a portion of the

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taxes distributed to the State Housing Trust Fund for

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specified uses conforming to the purposes for which the

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fund was created; 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) and (10) of section 201.15,

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Florida Statutes, 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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     Section 2. The Legislature shall annually appropriate at

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least 90 percent of the tax proceeds distributed to the State

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Housing Trust Fund for the purpose of providing affordable

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housing units and other purposes for which the State Housing

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Trust Fund was created.

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