| 1 | Representative Saunders offered the following: |
| 2 |
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| 3 | Amendment (with title amendment) |
| 4 | Remove everything after the enacting clause and insert: |
| 5 | Section 1. Section 3 of chapter 83-220, Laws of Florida, |
| 6 | as amended by section 1 of chapter 84-270, Laws of Florida, and |
| 7 | section 1 of chapter 89-252, Laws of Florida, is amended to |
| 8 | read: |
| 9 | Section 3. Sections 1 and 2 of chapter 83-220, Laws of |
| 10 | Florida, as amended by this act, are repealed effective October |
| 11 | 1, 2031 2011. |
| 12 | Section 2. Section 125.0167, Florida Statutes, is amended |
| 13 | to read: |
| 14 | 125.0167 Discretionary surtax on documents; adoption; |
| 15 | application of revenue.-- |
| 16 | (1) Pursuant to the provisions of s. 201.031, the |
| 17 | governing authority in each county, as defined by s. 125.011(1), |
| 18 | is authorized to levy a discretionary surtax on documents for |
| 19 | the purpose of establishing and financing a Housing Assistance |
| 20 | Loan Trust Fund to assist in the financing of construction, |
| 21 | rehabilitation, or purchase of housing for low-income and |
| 22 | moderate-income families. No less than 50 percent of the funds |
| 23 | used in each county to provide such housing assistance shall be |
| 24 | for the benefit of low-income families. For the purpose of this |
| 25 | section, "low-income family" means a family whose income does |
| 26 | not exceed 80 percent of the median income for the area, and |
| 27 | "moderate-income family" means a family whose income is in |
| 28 | excess of 80 percent but less than 140 percent of the median |
| 29 | income for the area. For purposes of this section, the term |
| 30 | "housing" is not limited to single-family, detached dwellings. |
| 31 | The rate of the surtax shall not exceed the rate of 45 cents for |
| 32 | each $100 or fractional part thereof of the consideration |
| 33 | therefor. Such surtax shall apply only to those documents |
| 34 | taxable under s. 201.02, except that there shall be no surtax on |
| 35 | any document pursuant to which the interest granted, assigned, |
| 36 | transferred, or conveyed involves only a single-family |
| 37 | residence. Such single-family residence may be a condominium |
| 38 | unit, a unit held through stock ownership or membership |
| 39 | representing a proprietary interest in a corporation owning a |
| 40 | fee or a leasehold initially in excess of 98 years, or a |
| 41 | detached dwelling. |
| 42 | (2) The levy of the discretionary surtax and the creation |
| 43 | of a Housing Assistance Loan Trust Fund shall be by ordinance |
| 44 | which shall set forth the policies and procedures of the |
| 45 | assistance program. The ordinance shall be proposed at a regular |
| 46 | meeting of the governing authority at least 2 weeks prior to |
| 47 | formal adoption. Formal adoption shall not be effective unless |
| 48 | approved on final vote by a majority of the total membership of |
| 49 | the governing authority. The ordinance shall not take effect |
| 50 | until 90 days after formal adoption. |
| 51 | (3) The county shall deposit revenues from the |
| 52 | discretionary surtax in the Housing Assistance Loan Trust Fund |
| 53 | of the county, except that a portion of such revenues may be |
| 54 | deposited into the Home Investment Trust Fund of the county as |
| 55 | defined by and created pursuant to the requirements of federal |
| 56 | law. The county shall use the revenues only to help finance the |
| 57 | construction, rehabilitation, or purchase of housing for low- |
| 58 | income families and moderate-income families, to pay necessary |
| 59 | costs of collection and enforcement of the surtax, and to fund |
| 60 | any local matching contributions required pursuant to federal |
| 61 | law. For purposes of this section, authorized uses of the |
| 62 | revenues include, but are not limited to, providing funds for |
| 63 | first and second mortgages and acquiring property for the |
| 64 | purpose of forming housing cooperatives. Special consideration |
| 65 | shall be given toward using the revenues in the neighborhood |
| 66 | economic development programs of community development |
| 67 | corporations. No more than 50 percent of the revenues collected |
| 68 | each year pursuant to this section may be used to help finance |
| 69 | new construction as provided herein. The proceeds of the surtax |
| 70 | shall not be used for rent subsidies or grants. |
| 71 | (4) No more than 10 percent of surtax revenues collected |
| 72 | under this section by the Department of Revenue and remitted to |
| 73 | the county in any fiscal year may be used for administrative |
| 74 | costs. |
| 75 | (5)(a) Notwithstanding the provisions of subsection (3), |
| 76 | of the discretionary surtax revenues collected by the Department |
| 77 | of Revenue remaining after any deduction for administrative |
| 78 | costs as provided in subsection (4), no less than 35 percent |
| 79 | shall be used to provide homeownership assistance for low-income |
| 80 | and moderate-income families, and no less than 35 percent shall |
| 81 | be used for construction, rehabilitation, and purchase of rental |
| 82 | housing units. The remaining amount may be allocated to provide |
| 83 | for homeownership assistance or rental housing units, at the |
| 84 | discretion of the county. Any funds allocated for homeownership |
| 85 | assistance or rental housing units which are not committed at |
| 86 | the end of the fiscal year shall be reallocated in subsequent |
| 87 | years consistent with the provisions of this subsection, in that |
| 88 | at least 35 percent shall be reallocated to provide |
| 89 | homeownership assistance for low-income and moderate-income |
| 90 | families, and at least 35 percent shall be reallocated for |
| 91 | construction, rehabilitation, and purchase of rental housing |
| 92 | units. The remaining amount of uncommitted funds may be |
| 93 | reallocated at the discretion of the county within any of the |
| 94 | categories established in this subsection. |
| 95 | (b) For purposes of this subsection, the term |
| 96 | "homeownership assistance" means assisting low-income and |
| 97 | moderate-income families in purchasing a home as their primary |
| 98 | residence, including, but not limited to, reducing the cost of |
| 99 | the home with below-market construction financing, the amount of |
| 100 | down payment and closing costs paid by the borrower, or the |
| 101 | mortgage payment to an affordable amount for the purchaser or |
| 102 | using any other financial assistance measure set forth in s. |
| 103 | 420.5088. |
| 104 | (6) Rehabilitation of housing owned by a recipient |
| 105 | government may be authorized only after a determination approved |
| 106 | by a majority of the governing body that no other sources of |
| 107 | funds are available. |
| 108 | (7)(a) The governing body of each county as defined in s. |
| 109 | 125.011(1) may, by county ordinance and pursuant to procedures |
| 110 | and requirements provided by such ordinance, create a housing |
| 111 | choice assistance voucher program. |
| 112 | (b) For purposes of this subsection, the term: |
| 113 | 1. "Housing choice assistance voucher" means the document |
| 114 | used to access assistance paid by the county from the |
| 115 | discretionary surtax balance in the Housing Assistance Trust |
| 116 | Fund to a prospective purchaser of a single-family residence, |
| 117 | which must be the purchaser's homestead. |
| 118 | 2. "Purchasing employer" means a business or business |
| 119 | entity that has acquired real property within the county and |
| 120 | paid the surtax due as a result of the acquisition of that |
| 121 | property pursuant to this section. |
| 122 | (c) Housing choice assistance vouchers shall be used for |
| 123 | down payment assistance for the purchase of a single-family |
| 124 | residence by low-income or moderate-income persons within the |
| 125 | county and within a 5-mile radius of the purchasing employer who |
| 126 | are: |
| 127 | 1. Actively employed by the purchasing employer or by a |
| 128 | business entity directly affiliated with the purchasing |
| 129 | employer. |
| 130 | 2. Prequalified for a mortgage loan by a certified lending |
| 131 | institution. |
| 132 | (d) Upon payment of the discretionary surtax pursuant to |
| 133 | this section, the purchasing employer may file for an allocation |
| 134 | for housing choice assistance vouchers from the county in an |
| 135 | amount not to exceed 50 percent of the amount of the |
| 136 | discretionary surtax paid. The purchasing employer shall |
| 137 | distribute the allocation to employees in the form of housing |
| 138 | choice assistance vouchers pursuant to rules and procedures |
| 139 | established for the program. |
| 140 | (e) Any housing choice assistance voucher allocation not |
| 141 | distributed to employees and redeemed by an employee within 1 |
| 142 | year after the date the discretionary surtax is paid may not be |
| 143 | used for housing choice assistance vouchers under this |
| 144 | subsection. |
| 145 | (f) Any housing assistance paid pursuant to the housing |
| 146 | choice assistance voucher program shall be included in the |
| 147 | calculation determining the percentage of discretionary surtax |
| 148 | funds used for homeownership purposes during the year in which |
| 149 | the surtax funds for such purposes are expended. |
| 150 | (8) By June 30, 2012, and every 5 years thereafter, the |
| 151 | Office of Program Policy Analysis and Government Accountability |
| 152 | shall review the discretionary surtax program operated by |
| 153 | counties under this section and shall provide a report to the |
| 154 | President of the Senate and the Speaker of the House of |
| 155 | Representatives. |
| 156 | Section 3. (1) The Legislature finds that the Florida |
| 157 | Supreme Court opinion in Crescent Miami Center, LLC v. Florida |
| 158 | Department of Revenue, 903 So. 2d 913 (Fla. 2005), interprets s. |
| 159 | 201.02, Florida Statutes, in a manner that permits tax avoidance |
| 160 | inconsistent with the intent of the Legislature at the time the |
| 161 | statute was amended in 1990. |
| 162 | (2) The Legislature finds that the opinion of the District |
| 163 | Court of Appeal for the Third District of Florida in Crescent |
| 164 | Miami Center, LLC v. Florida Department of Revenue, 857 So. 2d |
| 165 | 904 (Fla. 3d D.C.A. 2003), interprets s. 201.02, Florida |
| 166 | Statutes, in a manner that prevents tax avoidance consistent |
| 167 | with the intent of the Legislature at the time the statute was |
| 168 | amended in 1990. |
| 169 | (3) The Legislature recognizes that the Supreme Court's |
| 170 | opinion in Crescent is limited to the facts of the case and |
| 171 | accepts the court's interpretation of s. 201.02, Florida |
| 172 | Statutes, that no consideration exists when owners of real |
| 173 | property unencumbered by a mortgage convey an interest in such |
| 174 | property to an artificial entity whose ownership is identical to |
| 175 | the ownership of the real property before conveyance. The |
| 176 | Legislature expressly rejects any application of the court's |
| 177 | interpretation where the facts are not comparable to the facts |
| 178 | in Crescent. However, because the Supreme Court's |
| 179 | interpretation, combined with other settled law regarding the |
| 180 | application of s. 201.02, Florida Statutes, allows for the tax- |
| 181 | free transfer of ownership interests in real property from one |
| 182 | owner to another through the use of artificial entities, it is |
| 183 | the Legislature's intent by this act to impose the documentary |
| 184 | stamp tax when the beneficial ownership of real property is |
| 185 | transferred to a new owner or owners by the use of techniques |
| 186 | that apply the Supreme Court's decision in Crescent in |
| 187 | combination with transfers of ownership of, or distributions |
| 188 | from, artificial entities. |
| 189 | Section 4. Subsection (1) of section 201.02, Florida |
| 190 | Statutes, is amended, and subsection (11) is added to that |
| 191 | section, to read: |
| 192 | 201.02 Tax on deeds and other instruments relating to real |
| 193 | property or interests in real property.-- |
| 194 | (1)(a) On deeds, instruments, or writings whereby any |
| 195 | lands, tenements, or other real property, or any interest |
| 196 | therein, shall be granted, assigned, transferred, or otherwise |
| 197 | conveyed to, or vested in, the purchaser or any other person by |
| 198 | his or her direction, on each $100 of the consideration therefor |
| 199 | the tax shall be 70 cents. When the full amount of the |
| 200 | consideration for the execution, assignment, transfer, or |
| 201 | conveyance is not shown in the face of such deed, instrument, |
| 202 | document, or writing, the tax shall be at the rate of 70 cents |
| 203 | for each $100 or fractional part thereof of the consideration |
| 204 | therefor. For purposes of this section, consideration includes, |
| 205 | but is not limited to, the money paid or agreed to be paid; the |
| 206 | discharge of an obligation; and the amount of any mortgage, |
| 207 | purchase money mortgage lien, or other encumbrance, whether or |
| 208 | not the underlying indebtedness is assumed. If the consideration |
| 209 | paid or given in exchange for real property or any interest |
| 210 | therein includes property other than money, it is presumed that |
| 211 | the consideration is equal to the fair market value of the real |
| 212 | property or interest therein. |
| 213 | (b)1. For purposes of this paragraph the term: |
| 214 | a. "Conduit entity" means a legal entity to which real |
| 215 | property is conveyed without full consideration by a grantor who |
| 216 | owns a direct or indirect interest in the entity, or a successor |
| 217 | entity. |
| 218 | b. "Full consideration" means the consideration that would |
| 219 | be paid in an arm's length transaction between unrelated |
| 220 | parties. |
| 221 | 2. When real property is conveyed to a conduit entity and |
| 222 | all or a portion of the grantor's direct or indirect ownership |
| 223 | interest in the conduit entity is subsequently transferred for |
| 224 | consideration within 3 years of such conveyance, tax is imposed |
| 225 | on each such transfer of an interest in the conduit entity for |
| 226 | consideration at the rate of 70 cents for each $100 or fraction |
| 227 | thereof of the consideration paid or given in exchange for the |
| 228 | ownership interest in the conduit entity. |
| 229 | 3. When the ownership interest in the conduit entity being |
| 230 | transferred includes assets other than the real property |
| 231 | conveyed to the conduit entity, the tax shall be prorated based |
| 232 | on the percentage the value of such real property represents of |
| 233 | the total value of all assets owned by the conduit entity. |
| 234 | 4. A gift of an ownership interest in a conduit entity is |
| 235 | not subject to tax to the extent there is no consideration. The |
| 236 | transfer of shares or similar equity interests in a conduit |
| 237 | entity which are dealt in or traded on public, regulated |
| 238 | security exchanges or markets is not subject to tax under this |
| 239 | paragraph. |
| 240 | 5. The transfer for purposes of estate planning by a |
| 241 | natural person of an interest in a conduit entity to an |
| 242 | irrevocable grantor trust as described in subpart E of part I of |
| 243 | subchapter J of chapter 1 of subtitle A of the United States |
| 244 | Internal Revenue Code is not subject to tax under this |
| 245 | paragraph. |
| 246 | 6. The purpose of this paragraph is to impose the |
| 247 | documentary stamp tax on the transfer for consideration of a |
| 248 | beneficial interest in real property. The provisions of this |
| 249 | paragraph are to be construed liberally to effectuate this |
| 250 | purpose. |
| 251 | (c) Conversion or merger of a trust that is not a legal |
| 252 | entity that owns real property in this state into a legal entity |
| 253 | shall be treated as a conveyance of the real property for the |
| 254 | purposes of this section. |
| 255 | (d) Taxes imposed by this subsection shall be paid |
| 256 | pursuant to s. 201.133 when no document is recorded. If a |
| 257 | document is recorded, taxes imposed by the paragraph shall be |
| 258 | paid as required for all other taxable documents that are |
| 259 | recorded. |
| 260 | (11) The documentary stamp tax imposed by this section |
| 261 | applies to a deed, instrument, or writing that transfers any |
| 262 | interest in real property pursuant to a short sale, as defined |
| 263 | in this subsection. The taxable consideration for a short sale |
| 264 | transfer does not include unpaid indebtedness that is forgiven |
| 265 | or released by a mortgagee holding a mortgage on the grantor's |
| 266 | interest in the property. A short sale is a purchase and sale of |
| 267 | real property in which: |
| 268 | (a) The grantor's interest in the real property is |
| 269 | encumbered by a mortgage or mortgages securing indebtedness in |
| 270 | an aggregate amount greater than the purchase price paid by the |
| 271 | grantee; |
| 272 | (b) A mortgagee releases the real property from its |
| 273 | mortgage in exchange for a partial payment of less than all of |
| 274 | the outstanding mortgage indebtedness owing to the releasing |
| 275 | mortgagee; |
| 276 | (c) The releasing mortgagee does not receive, directly or |
| 277 | indirectly, any interest in the property transferred; and |
| 278 | (d) The releasing mortgagee, grantor, and grantee are |
| 279 | dealing with each other at arm's length. |
| 280 | Section 5. The amendments to subsections (1) and (11) of |
| 281 | s. 201.02, Florida Statutes, made by this act and the provisions |
| 282 | of section 3 of this act are intended to be clarifying and |
| 283 | remedial in nature, but do not provide a basis for assessments |
| 284 | of tax, or refunds of tax, for periods before July 1, 2009. |
| 285 | Section 6. Effective upon this act becoming a law, the |
| 286 | Department of Revenue is authorized, and all conditions are |
| 287 | deemed met, to adopt emergency rules pursuant to ss. 120.536(1) |
| 288 | and 120.54(4), Florida Statutes, to implement s. 201.02, Florida |
| 289 | Statutes, as amended by section 4 of this act. Notwithstanding |
| 290 | any other provision of law, such emergency rules shall remain |
| 291 | effective for 6 months after the date of adoption and may be |
| 292 | renewed during the pendency of procedures to adopt rules |
| 293 | addressing the subject of the emergency rules. |
| 294 | Section 7. Section 201.031, Florida Statutes, is amended |
| 295 | to read: |
| 296 | 201.031 Discretionary surtax; administration and |
| 297 | collection; Housing Assistance Loan Trust Fund; reporting |
| 298 | requirements.-- |
| 299 | (1) Each county, as defined by s. 125.011(1), may levy, |
| 300 | subject to the provisions of s. 125.0167, a discretionary surtax |
| 301 | on documents taxable under the provisions of s. 201.02, except |
| 302 | that there shall be no surtax on any document pursuant to which |
| 303 | the interest granted, assigned, transferred, or conveyed |
| 304 | involves only a single-family residence. The Such single-family |
| 305 | residence may be a condominium unit, a unit held through stock |
| 306 | ownership or membership representing a proprietary interest in a |
| 307 | corporation owning a fee or a leasehold initially in excess of |
| 308 | 98 years, or a detached dwelling. |
| 309 | (2) All provisions of chapter 201, except s. 201.15, shall |
| 310 | apply to the surtax. The Department of Revenue shall pay to the |
| 311 | governing authority of the county which levies the surtax all |
| 312 | taxes, penalties, and interest collected under this section less |
| 313 | any costs of administration. |
| 314 | (3) Each county that which levies the surtax shall: |
| 315 | (a) Include in the financial report required under s. |
| 316 | 218.32 information showing the revenues and the expenses of the |
| 317 | trust fund for the fiscal year. |
| 318 | (b) Adopt a housing plan every 3 years which includes |
| 319 | provisions substantially similar to the plans required in s. |
| 320 | 420.9075(1). |
| 321 | (c) Have adopted an affordable housing element of its |
| 322 | comprehensive land use plan which complies with s. |
| 323 | 163.3177(6)(f). |
| 324 | (d) Require by resolution that the staff or entity that |
| 325 | has administrative authority for implementing the housing plan |
| 326 | prepare and submit to the county's governing body an annual |
| 327 | report substantially similar to the annual report required in s. |
| 328 | 420.9075(10). |
| 329 | Section 8. Paragraph (a) of subsection (1) of section |
| 330 | 719.105, Florida Statutes, is amended to read: |
| 331 | 719.105 Cooperative parcels; appurtenances; possession and |
| 332 | enjoyment.-- |
| 333 | (1) Each cooperative parcel has, as appurtenances thereto: |
| 334 | (a) Evidence of membership, ownership of shares, or other |
| 335 | interest in the association with the full voting rights |
| 336 | appertaining thereto. Such evidence must include a legal |
| 337 | description of each dwelling unit and must be recorded in the |
| 338 | office of the clerk of the circuit court as required by s. |
| 339 | 201.02(4) s. 201.02(3). |
| 340 | Section 9. Pursuant to s. 201.15(1)(a), Florida Statutes, |
| 341 | the issuance of $50 million of Florida Forever bonds is |
| 342 | authorized, in addition to any previously authorized bonds. For |
| 343 | the 2009-2010 fiscal year, the sum of $3,502,005 is appropriated |
| 344 | from the Land Acquisition Trust Fund to the Department of |
| 345 | Environmental Protection for debt service on the new bonds. The |
| 346 | proceeds of such bonds shall be distributed in accordance with |
| 347 | s. 259.105(3), Florida Statutes. The Department of Environmental |
| 348 | Protection and the agencies receiving such bond proceeds are |
| 349 | appropriated budget authority necessary to transfer and expend |
| 350 | the respective amounts of the distributed bond proceeds. |
| 351 | Section 10. (1) Pursuant to s. 215.619(1), Florida |
| 352 | Statutes, the issuance of $50 million of Everglades Restoration |
| 353 | bonds is authorized, in addition to any previously authorized |
| 354 | bonds. For the 2009-2010 fiscal year, the sum of $4,991,600 is |
| 355 | appropriated from the Save Our Everglades Trust Fund to the |
| 356 | Department of Environmental Protection for debt service on the |
| 357 | new bonds. |
| 358 | (2) The sum of $47 million is appropriated from the Save |
| 359 | Our Everglades Trust Fund to the Department of Environmental |
| 360 | Protection for the design and construction of Comprehensive |
| 361 | Everglades Restoration Plan components, Lake Okeechobee |
| 362 | Protection Plan components, and Caloosahatchee and St. Lucie |
| 363 | River Watershed Protection Plan components, and for the |
| 364 | acquisition of lands needed for these project components. The |
| 365 | sum of $3 million is appropriated from the Save Our Everglades |
| 366 | Trust Fund to the Department of Environmental Protection for |
| 367 | transfer to the Department of Agriculture and Consumer Services |
| 368 | into the General Inspection Trust Fund to fund activities |
| 369 | authorized in subsection (3). |
| 370 | (3) The sum of $3 million is appropriated from the General |
| 371 | Inspections Trust Fund to the Department of Agriculture and |
| 372 | Consumer Services for the purpose of implementing agricultural |
| 373 | nonpoint source controls in the Okeechobee, Caloosahatchee, and |
| 374 | St. Lucie River watersheds. |
| 375 | Section 11. Section 201.15, Florida Statutes, as amended |
| 376 | by section 1 of chapter 2009-17, Laws of Florida, is amended to |
| 377 | read: |
| 378 | 201.15 Distribution of taxes collected.--All taxes |
| 379 | collected under this chapter are subject to the service charge |
| 380 | imposed in s. 215.20(1). Prior to distribution under this |
| 381 | section, the Department of Revenue shall deduct amounts |
| 382 | necessary to pay the costs of the collection and enforcement of |
| 383 | the tax levied by this chapter. Such costs and the service |
| 384 | charge may not be levied against any portion of taxes pledged to |
| 385 | debt service on bonds to the extent that the costs and service |
| 386 | charge are required to pay any amounts relating to the bonds. |
| 387 | After distributions are made pursuant to subsection (1), all of |
| 388 | the costs of the collection and enforcement of the tax levied by |
| 389 | this chapter and the service charge shall be available and |
| 390 | transferred to the extent necessary to pay debt service and any |
| 391 | other amounts payable with respect to bonds authorized before |
| 392 | January 1, 2010, secured by revenues distributed pursuant to |
| 393 | subsection (1). All taxes remaining after deduction of costs and |
| 394 | the service charge shall be distributed as follows: |
| 395 | (1) Sixty-three and thirty-one hundredths percent of the |
| 396 | remaining taxes collected under this chapter shall be used for |
| 397 | the following purposes: |
| 398 | (a) Amounts necessary to pay the debt service on, or fund |
| 399 | debt service reserve funds, rebate obligations, or other amounts |
| 400 | payable with respect to Preservation 2000 bonds issued pursuant |
| 401 | to s. 375.051 and Florida Forever bonds issued pursuant to s. |
| 402 | 215.618, shall be paid into the State Treasury to the credit of |
| 403 | the Land Acquisition Trust Fund to be used for such purposes. |
| 404 | The amount transferred to the Land Acquisition Trust Fund may |
| 405 | not exceed $300 million in fiscal year 1999-2000 and thereafter |
| 406 | for Preservation 2000 bonds and bonds issued to refund |
| 407 | Preservation 2000 bonds, and $300 million in fiscal year 2000- |
| 408 | 2001 and thereafter for Florida Forever bonds. The annual amount |
| 409 | transferred to the Land Acquisition Trust Fund for Florida |
| 410 | Forever bonds may not exceed $30 million in the first fiscal |
| 411 | year in which bonds are issued. The limitation on the amount |
| 412 | transferred shall be increased by an additional $30 million in |
| 413 | each subsequent fiscal year, but may not exceed a total of $300 |
| 414 | million in any fiscal year for all bonds issued. It is the |
| 415 | intent of the Legislature that all bonds issued to fund the |
| 416 | Florida Forever Act be retired by December 31, 2040. Except for |
| 417 | bonds issued to refund previously issued bonds, no series of |
| 418 | bonds may be issued pursuant to this paragraph unless such bonds |
| 419 | are approved and the debt service for the remainder of the |
| 420 | fiscal year in which the bonds are issued is specifically |
| 421 | appropriated in the General Appropriations Act. For purposes of |
| 422 | refunding Preservation 2000 bonds, amounts designated within |
| 423 | this section for Preservation 2000 and Florida Forever bonds may |
| 424 | be transferred between the two programs to the extent provided |
| 425 | for in the documents authorizing the issuance of the bonds. The |
| 426 | Preservation 2000 bonds and Florida Forever bonds shall be |
| 427 | equally and ratably secured by moneys distributable to the Land |
| 428 | Acquisition Trust Fund pursuant to this section, except to the |
| 429 | extent specifically provided otherwise by the documents |
| 430 | authorizing the issuance of the bonds. No moneys transferred to |
| 431 | the Land Acquisition Trust Fund pursuant to this paragraph, or |
| 432 | earnings thereon, shall be used or made available to pay debt |
| 433 | service on the Save Our Coast revenue bonds. |
| 434 | (b) Moneys shall be paid into the State Treasury to the |
| 435 | credit of the Save Our Everglades Trust Fund in amounts |
| 436 | necessary to pay debt service, provide reserves, and pay rebate |
| 437 | obligations and other amounts due with respect to bonds issued |
| 438 | under s. 215.619. Taxes distributed under paragraph (a) and this |
| 439 | paragraph must be collectively distributed on a pro rata basis |
| 440 | when the available moneys under this subsection are not |
| 441 | sufficient to cover the amounts required under paragraph (a) and |
| 442 | this paragraph. |
| 443 | (c) The remainder of the moneys distributed under this |
| 444 | subsection, after the required payments under paragraphs (a) and |
| 445 | (b), shall be paid into the State Treasury to the credit of: |
| 446 | 1. The State Transportation Trust Fund in the Department |
| 447 | of Transportation in the amount of the lesser of 38.2 percent of |
| 448 | the remainder or $541.75 million in each fiscal year, to be used |
| 449 | for the following specified purposes, notwithstanding any other |
| 450 | law to the contrary: |
| 451 | a. For the purposes of capital funding for the New Starts |
| 452 | Transit Program, authorized by Title 49, U.S.C. s. 5309 and |
| 453 | specified in s. 341.051, 10 percent of these funds; |
| 454 | b. For the purposes of the Small County Outreach Program |
| 455 | specified in s. 339.2818, 5 percent of these funds; |
| 456 | c. For the purposes of the Strategic Intermodal System |
| 457 | specified in ss. 339.61, 339.62, 339.63, and 339.64, 75 percent |
| 458 | of these funds after allocating for the New Starts Transit |
| 459 | Program described in sub-subparagraph a. and the Small County |
| 460 | Outreach Program described in sub-subparagraph b.; and |
| 461 | d. For the purposes of the Transportation Regional |
| 462 | Incentive Program specified in s. 339.2819, 25 percent of these |
| 463 | funds after allocating for the New Starts Transit Program |
| 464 | described in sub-subparagraph a. and the Small County Outreach |
| 465 | Program described in sub-subparagraph b. |
| 466 | 2. The Water Protection and Sustainability Program Trust |
| 467 | Fund in the Department of Environmental Protection in the amount |
| 468 | of the lesser of 5.64 percent of the remainder or $80 million in |
| 469 | each fiscal year, to be used as required by s. 403.890. |
| 470 | 3. The Grants and Donations Trust Fund in the Department |
| 471 | of Community Affairs in the amount of the lesser of .23 percent |
| 472 | of the remainder or $3.25 million in each fiscal year, with 92 |
| 473 | percent to be used to fund technical assistance to local |
| 474 | governments and school boards on the requirements and |
| 475 | implementation of this act and the remaining amount to be used |
| 476 | to fund the Century Commission established in s. 163.3247. |
| 477 | 4. The Ecosystem Management and Restoration Trust Fund in |
| 478 | the amount of the lesser of 2.12 percent of the remainder or $30 |
| 479 | million in each fiscal year, to be used for the preservation and |
| 480 | repair of the state's beaches as provided in ss. 161.091- |
| 481 | 161.212. |
| 482 | 5. The Marine Resources Conservation Trust Fund in the |
| 483 | amount of the lesser of .14 percent of the remainder or $2 |
| 484 | million in each fiscal year, to be used for marine mammal care |
| 485 | as provided in s. 379.208(3). |
| 486 | 6. General Inspection Trust Fund in the amount of the |
| 487 | lesser of .02 percent of the remainder or $300,000 in each |
| 488 | fiscal year to be used to fund oyster management and restoration |
| 489 | programs as provided in s. 379.362(3). |
| 490 |
|
| 491 | Moneys distributed pursuant to this paragraph may not be pledged |
| 492 | for debt service unless such pledge is approved by referendum of |
| 493 | the voters. |
| 494 | (d) The remainder of the moneys distributed under this |
| 495 | subsection, after the required payments under paragraphs (a), |
| 496 | (b), and (c), shall be paid into the State Treasury to the |
| 497 | credit of the General Revenue Fund to be used and expended for |
| 498 | the purposes for which the General Revenue Fund was created and |
| 499 | exists by law. |
| 500 | (2) The lesser of 7.56 percent of the remaining taxes |
| 501 | collected under this chapter or $84.9 million in each fiscal |
| 502 | year shall be paid into the State Treasury to the credit of the |
| 503 | Land Acquisition Trust Fund. Sums deposited in the fund pursuant |
| 504 | to this subsection may be used for any purpose for which funds |
| 505 | deposited in the Land Acquisition Trust Fund may lawfully be |
| 506 | used. |
| 507 | (3)(a) Through the 2008-2009 fiscal year, the lesser of |
| 508 | 1.94 percent of the remaining taxes collected under this chapter |
| 509 | or $26 million in each fiscal year shall be paid into the State |
| 510 | Treasury to the credit of the Land Acquisition Trust Fund. |
| 511 | (b) Beginning with the 2009-2010 fiscal year, the lesser |
| 512 | of 1.94 percent of the remaining taxes collected under this |
| 513 | chapter or $26 million in each fiscal year shall be distributed |
| 514 | in the following order: |
| 515 | 1. Amounts necessary to pay debt service or to fund debt |
| 516 | service reserve funds, rebate obligations, or other amounts |
| 517 | payable with respect to bonds issued before February 1, 2009, |
| 518 | pursuant to this subsection shall be paid into the State |
| 519 | Treasury to the credit of the Land Acquisition Trust Fund. |
| 520 | 2. Eleven million dollars shall be paid into the State |
| 521 | Treasury to the credit of the General Revenue Fund. |
| 522 | 3. The remainder shall be paid into the State Treasury to |
| 523 | the credit of the Land Acquisition Trust Fund. |
| 524 | (c) Moneys deposited in the Land Acquisition Trust Fund |
| 525 | pursuant to this subsection shall be used to acquire coastal |
| 526 | lands or to pay debt service on bonds issued to acquire coastal |
| 527 | lands and to develop and manage lands acquired with moneys from |
| 528 | the trust fund. |
| 529 | (4) The lesser of 4.2 percent of the remaining taxes |
| 530 | collected under this chapter or $60.5 million in each fiscal |
| 531 | year shall be paid into the State Treasury to the credit of the |
| 532 | Water Management Lands Trust Fund. Sums deposited in that fund |
| 533 | may be used for any purpose authorized in s. 373.59. |
| 534 | (5)(a) For the 2007-2008 fiscal year, 3.96 percent of the |
| 535 | remaining taxes collected under this chapter shall be paid into |
| 536 | the State Treasury to the credit of the Conservation and |
| 537 | Recreation Lands Trust Fund to carry out the purposes set forth |
| 538 | in s. 259.032. Ten and five-hundredths percent of the amount |
| 539 | credited to the Conservation and Recreation Lands Trust Fund |
| 540 | pursuant to this subsection shall be transferred to the State |
| 541 | Game Trust Fund and used for land management activities. |
| 542 | (b) Beginning July 1, 2008, 3.52 percent of the remaining |
| 543 | taxes collected under this chapter shall be paid into the State |
| 544 | Treasury to the credit of the Conservation and Recreation Lands |
| 545 | Trust Fund to carry out the purposes set forth in s. 259.032. |
| 546 | Eleven and fifteen hundredths percent of the amount credited to |
| 547 | the Conservation and Recreation Lands Trust Fund pursuant to |
| 548 | this subsection shall be transferred to the State Game Trust |
| 549 | Fund and used for land management activities. |
| 550 | (6) The lesser of 2.28 percent of the remaining taxes |
| 551 | collected under this chapter or $34.1 million in each fiscal |
| 552 | year shall be paid into the State Treasury to the credit of the |
| 553 | Invasive Plant Control Trust Fund to carry out the purposes set |
| 554 | forth in ss. 369.22 and 369.252. |
| 555 | (7) The lesser of .5 percent of the remaining taxes |
| 556 | collected under this chapter or $9.3 million in each fiscal year |
| 557 | shall be paid into the State Treasury to the credit of the State |
| 558 | Game Trust Fund to be used exclusively for the purpose of |
| 559 | implementing the Lake Restoration 2020 Program. |
| 560 | (8) One-half of one percent of the remaining taxes |
| 561 | collected under this chapter shall be paid into the State |
| 562 | Treasury and divided equally to the credit of the Department of |
| 563 | Environmental Protection Water Quality Assurance Trust Fund to |
| 564 | address water quality impacts associated with nonagricultural |
| 565 | nonpoint sources and to the credit of the Department of |
| 566 | Agriculture and Consumer Services General Inspection Trust Fund |
| 567 | to address water quality impacts associated with agricultural |
| 568 | nonpoint sources, respectively. These funds shall be used for |
| 569 | research, development, demonstration, and implementation of |
| 570 | suitable best management practices or other measures used to |
| 571 | achieve water quality standards in surface waters and water |
| 572 | segments identified pursuant to ss. 303(d) of the Clean Water |
| 573 | Act, Pub. L. No. 92-500, 33 U.S.C. ss. 1251 et seq. |
| 574 | Implementation of best management practices and other measures |
| 575 | may include cost-share grants, technical assistance, |
| 576 | implementation tracking, and conservation leases or other |
| 577 | agreements for water quality improvement. The Department of |
| 578 | Environmental Protection and the Department of Agriculture and |
| 579 | Consumer Services may adopt rules governing the distribution of |
| 580 | funds for implementation of best management practices. The |
| 581 | unobligated balance of funds received from the distribution of |
| 582 | taxes collected under this chapter to address water quality |
| 583 | impacts associated with nonagricultural nonpoint sources will be |
| 584 | excluded when calculating the unobligated balance of the Water |
| 585 | Quality Assurance Trust Fund as it relates to the determination |
| 586 | of the applicable excise tax rate. |
| 587 | (9) The lesser of 7.53 percent of the remaining taxes |
| 588 | collected under this chapter or $107 million in each fiscal year |
| 589 | shall be paid into the State Treasury to the credit of the State |
| 590 | Housing Trust Fund and shall be used as follows: |
| 591 | (a) Half of that amount shall be used for the purposes for |
| 592 | which the State Housing Trust Fund was created and exists by |
| 593 | law. |
| 594 | (b) Half of that amount shall be paid into the State |
| 595 | Treasury to the credit of the Local Government Housing Trust |
| 596 | Fund and shall be used for the purposes for which the Local |
| 597 | Government Housing Trust Fund was created and exists by law. |
| 598 | (10) The lesser of 8.66 percent of the remaining taxes |
| 599 | collected under this chapter or $136 million in each fiscal year |
| 600 | shall be paid into the State Treasury to the credit of the State |
| 601 | Housing Trust Fund and shall be used as follows: |
| 602 | (a) Twelve and one-half percent of that amount shall be |
| 603 | deposited into the State Housing Trust Fund and be expended by |
| 604 | the Department of Community Affairs and by the Florida Housing |
| 605 | Finance Corporation for the purposes for which the State Housing |
| 606 | Trust Fund was created and exists by law. |
| 607 | (b) Eighty-seven and one-half percent of that amount shall |
| 608 | be distributed to the Local Government Housing Trust Fund and |
| 609 | shall be used for the purposes for which the Local Government |
| 610 | Housing Trust Fund was created and exists by law. Funds from |
| 611 | this category may also be used to provide for state and local |
| 612 | services to assist the homeless. |
| 613 | (11) The distribution of proceeds deposited into the Water |
| 614 | Management Lands Trust Fund and the Conservation and Recreation |
| 615 | Lands Trust Fund, pursuant to subsections (4) and (5), may not |
| 616 | be used for land acquisition but may be used for preacquisition |
| 617 | costs associated with land purchases. The Legislature intends |
| 618 | that the Florida Forever program supplant the acquisition |
| 619 | programs formerly authorized under ss. 259.032 and 373.59. |
| 620 | (12) Amounts distributed pursuant to subsections (5), (6), |
| 621 | (7), and (8) are subject to the payment of debt service on |
| 622 | outstanding Conservation and Recreation Lands revenue bonds. |
| 623 | (13) Beginning July 1, 2008, in each fiscal year that the |
| 624 | remaining taxes collected under this chapter exceed collections |
| 625 | in the prior fiscal year, the stated maximum dollar amounts |
| 626 | provided in subsections (2), (4), (6), (7), (9), and (10) shall |
| 627 | each be increased by an amount equal to 10 percent of the |
| 628 | increase in the remaining taxes collected under this chapter |
| 629 | multiplied by the applicable percentage provided in those |
| 630 | subsections. |
| 631 | (14) If the payment requirements in any year for bonds |
| 632 | outstanding on July 1, 2007, or bonds issued to refund such |
| 633 | bonds, exceed the limitations of this section, distributions to |
| 634 | the trust fund from which the bond payments are made shall be |
| 635 | increased to the lesser of the amount needed to pay bond |
| 636 | obligations or the limit of the applicable percentage |
| 637 | distribution provided in subsections (1)-(10). |
| 638 | (15) Distributions to the State Housing Trust Fund |
| 639 | pursuant to subsections (9) and (10) shall be sufficient to |
| 640 | cover amounts required to be transferred to the Florida |
| 641 | Affordable Housing Guarantee Program's annual debt service |
| 642 | reserve and guarantee fund pursuant to s. 420.5092(6)(a) and (b) |
| 643 | up to but not exceeding the amount required to be transferred to |
| 644 | such reserve and fund based on the percentage distribution of |
| 645 | documentary stamp tax revenues to the State Housing Trust Fund |
| 646 | which is in effect in the 2004-2005 fiscal year. |
| 647 | (16) If amounts necessary to pay debt service or any other |
| 648 | amounts payable with respect to Preservation 2000 bonds, Florida |
| 649 | Forever bonds, or Everglades Restoration bonds authorized before |
| 650 | January 1, 2010, exceed the amounts distributable pursuant to |
| 651 | subsection (1), all moneys distributable pursuant to this |
| 652 | section are available for such obligations and transferred in |
| 653 | the amounts necessary to pay such obligations when due. However, |
| 654 | amounts distributable pursuant to subsection (2), subsection |
| 655 | (3), subsection (4), subsection (5), paragraph (9)(a), or |
| 656 | paragraph (10)(a) are not available to pay such obligations to |
| 657 | the extent that such moneys are necessary to pay debt service on |
| 658 | bonds secured by revenues pursuant to those provisions. |
| 659 | (17)(16) The remaining taxes collected under this chapter, |
| 660 | after the distributions provided in the preceding subsections, |
| 661 | shall be paid into the State Treasury to the credit of the |
| 662 | General Revenue Fund. |
| 663 | Section 12. Except as otherwise expressly provided in this |
| 664 | act and except for this section, which shall take effect upon |
| 665 | becoming law, this act shall take effect on July 1, 2009, and |
| 666 | the amendment to s. 201.02(1), Florida Statutes, made by this |
| 667 | act, applies to transfers for which the first transfer to a |
| 668 | conduit entity occurs after July 1, 2009. |
| 669 |
|
| 670 |
|
| 671 | ----------------------------------------------------- |
| 672 | T I T L E A M E N D M E N T |
| 673 | Remove the entire title and insert: |
| 674 | A bill to be entitled |
| 675 | An act relating to the taxation of documents; amending s. 3, ch. |
| 676 | 83-220, Laws of Florida, as amended; extending a future repeal |
| 677 | date of provisions authorizing counties to levy a discretionary |
| 678 | surtax on documents; amending s. 125.0167, F.S.; limiting the |
| 679 | percentage of surtax revenues that may be used for |
| 680 | administrative costs; specifying a minimum amount of surtax |
| 681 | revenues to be used for housing for certain low-income and |
| 682 | moderate-income families; requiring an affirmative vote of a |
| 683 | local government governing body to rehabilitate certain |
| 684 | government-owned housing; authorizing certain counties to create |
| 685 | by ordinance a housing choice assistance voucher program for the |
| 686 | purpose of down payment assistance; providing definitions; |
| 687 | providing eligibility requirements for such vouchers; |
| 688 | authorizing purchasing employers to file for allocations for |
| 689 | such vouchers; limiting allocations; requiring distribution of |
| 690 | allocations to employees in the form of such vouchers; |
| 691 | prohibiting use of allocations for such vouchers if not awarded |
| 692 | within a certain period after certain documentary stamps taxes |
| 693 | are collected; requiring the Office of Program Policy Analysis |
| 694 | and Government Accountability to conduct a continuing review of |
| 695 | the discretionary surtax program operated by counties; requiring |
| 696 | reports to the Legislature; providing legislative intent to |
| 697 | reverse a judicial opinion relating to the application of the |
| 698 | excise tax on documents to certain transactions involving legal |
| 699 | entities; amending s. 201.02, F.S.; defining terms; imposing the |
| 700 | tax on certain transfers to a conduit entity; providing for the |
| 701 | tax to be prorated when the interest transferred includes assets |
| 702 | other than real property; exempting the transfer of shares or |
| 703 | similar equity interests in a conduit entity from the tax; |
| 704 | exempting certain transfers for purposes of estate planning; |
| 705 | providing for liberal construction; providing for payment of the |
| 706 | tax when no document is recorded; imposing the tax on deeds, |
| 707 | instruments, and other writings on the consideration for a |
| 708 | transfer of real property pursuant to a short sale; providing |
| 709 | that the consideration subject to the tax does not include |
| 710 | unpaid indebtedness that is forgiven by a mortgagee; defining |
| 711 | the term "short sale"; authorizing the Department of Revenue to |
| 712 | adopt emergency rules relating to transfers of real property |
| 713 | interest involving conduit entities and transfers of real |
| 714 | property pursuant to short sales; amending s. 201.031, F.S.; |
| 715 | expanding requirements for counties levying the discretionary |
| 716 | surtax to include housing plan, affordable housing element, and |
| 717 | annual reporting requirements; amending s. 719.105, F.S.; |
| 718 | conforming a cross-reference; authorizing the issuance of |
| 719 | Florida Forever bonds; providing an appropriation for debt |
| 720 | service on such bonds; authorizing the issuance of Everglades |
| 721 | Restoration bonds; providing an appropriation for debt service |
| 722 | on such bonds; providing an appropriation to the Department of |
| 723 | Environmental Protection for the design and construction of |
| 724 | certain restoration and protection plans and for the acquisition |
| 725 | of lands needed for these project components; providing an |
| 726 | appropriation for the purpose of implementing agricultural |
| 727 | nonpoint source controls in certain watersheds; amending s. |
| 728 | 201.15, F.S.; conforming provisions to changes made by the act; |
| 729 | providing for application of specified provisions of the act; |
| 730 | providing effective dates. |
| 731 |
|