CS for CS for CS for SB's 2430 & SB 1960 Second Engrossed
20092430e2
1 A bill to be entitled
2 An act relating to the taxation of documents; amending
3 s. 3, ch. 83-220, Laws of Florida, as amended;
4 extending a future repeal date of provisions
5 authorizing counties to levy a discretionary surtax on
6 documents; amending s. 125.0167, F.S.; limiting the
7 percentage of surtax revenues that may be used for
8 administrative costs; specifying a minimum amount of
9 surtax revenues to be used for housing for certain
10 low-income and moderate-income families; requiring an
11 affirmative vote of a local government governing body
12 to rehabilitate certain government-owned housing;
13 authorizing certain counties to create by ordinance a
14 housing choice assistance voucher program for the
15 purpose of down payment assistance; providing
16 definitions; providing eligibility requirements for
17 such vouchers; authorizing purchasing employers to
18 file for allocations for such vouchers; limiting
19 allocations; requiring distribution of allocations to
20 employees in the form of such vouchers; prohibiting
21 use of allocations for such vouchers if not awarded
22 within a certain period after certain documentary
23 stamps taxes are collected; requiring the Office of
24 Program Policy Analysis and Government Accountability
25 to conduct a continuing review of the discretionary
26 surtax program operated by counties; requiring reports
27 to the Legislature; providing legislative intent to
28 reverse a judicial opinion relating to the application
29 of the excise tax on documents to certain transactions
30 involving legal entities; amending s. 201.02, F.S.;
31 defining terms; imposing the tax on certain transfers
32 to a conduit entity; providing for the tax to be
33 prorated when the interest transferred includes assets
34 other than real property; exempting the transfer of
35 shares or similar equity interests in a conduit entity
36 from the tax; exempting certain transfers for purposes
37 of estate planning; providing for liberal
38 construction; providing for payment of the tax when no
39 document is recorded; imposing the tax on deeds,
40 instruments, and other writings on the consideration
41 for a transfer of real property pursuant to a short
42 sale; providing that the consideration subject to the
43 tax does not include unpaid indebtedness that is
44 forgiven by a mortgagee; defining the term “short
45 sale”; authorizing the Department of Revenue to adopt
46 emergency rules relating to transfers of real property
47 interest involving conduit entities and transfers of
48 real property pursuant to short sales; amending s.
49 201.031, F.S.; expanding requirements for counties
50 levying the discretionary surtax to include housing
51 plan, affordable housing element, and annual reporting
52 requirements; amending s. 719.105, F.S.; conforming a
53 cross-reference; authorizing the issuance of Florida
54 Forever bonds; providing an appropriation for debt
55 service on such bonds; authorizing the issuance of
56 Everglades Restoration bonds; providing an
57 appropriation for debt service on such bonds;
58 providing an appropriation to the Department of
59 Environmental Protection for the design and
60 construction of certain restoration and protection
61 plans and for the acquisition of lands needed for
62 these project components; providing an appropriation
63 for the purpose of implementing agricultural nonpoint
64 source controls in certain watersheds; amending s.
65 201.15, F.S.; conforming provisions to changes made by
66 the act; providing for application of specified
67 provisions of the act; providing effective dates.
68
69 Be It Enacted by the Legislature of the State of Florida:
70
71 Section 1. Section 3 of chapter 83-220, Laws of Florida, as
72 amended by section 1 of chapter 84-270, Laws of Florida, and
73 section 1 of chapter 89-252, Laws of Florida, is amended to
74 read:
75 Section 3. Sections 1 and 2 of chapter 83-220, Laws of
76 Florida, as amended by this act, are repealed effective October
77 1, 2031 2011.
78 Section 2. Section 125.0167, Florida Statutes, is amended
79 to read:
80 125.0167 Discretionary surtax on documents; adoption;
81 application of revenue.—
82 (1) Pursuant to the provisions of s. 201.031, the governing
83 authority in each county, as defined by s. 125.011(1), is
84 authorized to levy a discretionary surtax on documents for the
85 purpose of establishing and financing a Housing Assistance Loan
86 Trust Fund to assist in the financing of construction,
87 rehabilitation, or purchase of housing for low-income and
88 moderate-income families. No less than 50 percent of the funds
89 used in each county to provide such housing assistance shall be
90 for the benefit of low-income families. For the purpose of this
91 section, “low-income family” means a family whose income does
92 not exceed 80 percent of the median income for the area, and
93 “moderate-income family” means a family whose income is in
94 excess of 80 percent but less than 140 percent of the median
95 income for the area. For purposes of this section, the term
96 “housing” is not limited to single-family, detached dwellings.
97 The rate of the surtax shall not exceed the rate of 45 cents for
98 each $100 or fractional part thereof of the consideration
99 therefor. Such surtax shall apply only to those documents
100 taxable under s. 201.02, except that there shall be no surtax on
101 any document pursuant to which the interest granted, assigned,
102 transferred, or conveyed involves only a single-family
103 residence. Such single-family residence may be a condominium
104 unit, a unit held through stock ownership or membership
105 representing a proprietary interest in a corporation owning a
106 fee or a leasehold initially in excess of 98 years, or a
107 detached dwelling.
108 (2) The levy of the discretionary surtax and the creation
109 of a Housing Assistance Loan Trust Fund shall be by ordinance
110 which shall set forth the policies and procedures of the
111 assistance program. The ordinance shall be proposed at a regular
112 meeting of the governing authority at least 2 weeks prior to
113 formal adoption. Formal adoption shall not be effective unless
114 approved on final vote by a majority of the total membership of
115 the governing authority. The ordinance shall not take effect
116 until 90 days after formal adoption.
117 (3) The county shall deposit revenues from the
118 discretionary surtax in the Housing Assistance Loan Trust Fund
119 of the county, except that a portion of such revenues may be
120 deposited into the Home Investment Trust Fund of the county as
121 defined by and created pursuant to the requirements of federal
122 law. The county shall use the revenues only to help finance the
123 construction, rehabilitation, or purchase of housing for low
124 income families and moderate-income families, to pay necessary
125 costs of collection and enforcement of the surtax, and to fund
126 any local matching contributions required pursuant to federal
127 law. For purposes of this section, authorized uses of the
128 revenues include, but are not limited to, providing funds for
129 first and second mortgages and acquiring property for the
130 purpose of forming housing cooperatives. Special consideration
131 shall be given toward using the revenues in the neighborhood
132 economic development programs of community development
133 corporations. No more than 50 percent of the revenues collected
134 each year pursuant to this section may be used to help finance
135 new construction as provided herein. The proceeds of the surtax
136 shall not be used for rent subsidies or grants.
137 (4) No more than 10 percent of surtax revenues collected
138 under this section by the Department of Revenue and remitted to
139 the county in any fiscal year may be used for administrative
140 costs.
141 (5)(a) Notwithstanding the provisions of subsection (3), of
142 the discretionary surtax revenues collected by the Department of
143 Revenue remaining after any deduction for administrative costs
144 as provided in subsection (4), no less than 35 percent shall be
145 used to provide homeownership assistance for low-income and
146 moderate-income families, and no less than 35 percent shall be
147 used for construction, rehabilitation, and purchase of rental
148 housing units. The remaining amount may be allocated to provide
149 for homeownership assistance or rental housing units, at the
150 discretion of the county. Any funds allocated for homeownership
151 assistance or rental housing units which are not committed at
152 the end of the fiscal year shall be reallocated in subsequent
153 years consistent with the provisions of this subsection, in that
154 at least 35 percent shall be reallocated to provide
155 homeownership assistance for low-income and moderate-income
156 families, and at least 35 percent shall be reallocated for
157 construction, rehabilitation, and purchase of rental housing
158 units. The remaining amount of uncommitted funds may be
159 reallocated at the discretion of the county within any of the
160 categories established in this subsection.
161 (b) For purposes of this subsection, the term
162 “homeownership assistance” means assisting low-income and
163 moderate-income families in purchasing a home as their primary
164 residence, including, but not limited to, reducing the cost of
165 the home with below-market construction financing, the amount of
166 down payment and closing costs paid by the borrower, or the
167 mortgage payment to an affordable amount for the purchaser or
168 using any other financial assistance measure set forth in s.
169 420.5088.
170 (6) Rehabilitation of housing owned by a recipient
171 government may be authorized only after a determination approved
172 by a majority of the governing body that no other sources of
173 funds are available.
174 (7)(a) The governing body of each county as defined in s.
175 125.011(1) may, by county ordinance and pursuant to procedures
176 and requirements provided by such ordinance, create a housing
177 choice assistance voucher program.
178 (b) For purposes of this subsection, the term:
179 1. “Housing choice assistance voucher” means the document
180 used to access assistance paid by the county from the
181 discretionary surtax balance in the Housing Assistance Trust
182 Fund to a prospective purchaser of a single-family residence,
183 which must be the purchaser’s homestead.
184 2. “Purchasing employer” means a business or business
185 entity that has acquired real property within the county and
186 paid the surtax due as a result of the acquisition of that
187 property pursuant to this section.
188 (c) Housing choice assistance vouchers shall be used for
189 down payment assistance for the purchase of a single-family
190 residence by low-income or moderate-income persons within the
191 county and within a 5-mile radius of the purchasing employer who
192 are:
193 1. Actively employed by the purchasing employer or by a
194 business entity directly affiliated with the purchasing
195 employer.
196 2. Prequalified for a mortgage loan by a certified lending
197 institution.
198 (d) Upon payment of the discretionary surtax pursuant to
199 this section, the purchasing employer may file for an allocation
200 for housing choice assistance vouchers from the county in an
201 amount not to exceed 50 percent of the amount of the
202 discretionary surtax paid. The purchasing employer shall
203 distribute the allocation to employees in the form of housing
204 choice assistance vouchers pursuant to rules and procedures
205 established for the program.
206 (e) Any housing choice assistance voucher allocation not
207 distributed to employees and redeemed by an employee within 1
208 year after the date the discretionary surtax is paid may not be
209 used for housing choice assistance vouchers under this
210 subsection.
211 (f) Any housing assistance paid pursuant to the housing
212 choice assistance voucher program shall be included in the
213 calculation determining the percentage of discretionary surtax
214 funds used for homeownership purposes during the year in which
215 the surtax funds for such purposes are expended.
216 (8) By June 30, 2012, and every 5 years thereafter, the
217 Office of Program Policy Analysis and Government Accountability
218 shall review the discretionary surtax program operated by
219 counties under this section and shall provide a report to the
220 President of the Senate and the Speaker of the House of
221 Representatives.
222 Section 3. (1) The Legislature finds that the Florida
223 Supreme Court opinion in Crescent Miami Center, LLC v. Florida
224 Department of Revenue, 903 So. 2d 913 (Fla. 2005), interprets s.
225 201.02, Florida Statutes, in a manner that permits tax avoidance
226 inconsistent with the intent of the Legislature at the time the
227 statute was amended in 1990.
228 (2) The Legislature finds that the opinion of the District
229 Court of Appeal for the Third District of Florida in Crescent
230 Miami Center, LLC v. Florida Department of Revenue, 857 So. 2d
231 904 (Fla. 3d D.C.A. 2003), interprets s. 201.02, Florida
232 Statutes, in a manner that prevents tax avoidance consistent
233 with the intent of the Legislature at the time the statute was
234 amended in 1990.
235 (3) The Legislature recognizes that the Supreme Court’s
236 opinion in Crescent is limited to the facts of the case and
237 accepts the court’s interpretation of s. 201.02, Florida
238 Statutes, that no consideration exists when owners of real
239 property unencumbered by a mortgage convey an interest in such
240 property to an artificial entity whose ownership is identical to
241 the ownership of the real property before conveyance. The
242 Legislature expressly rejects any application of the court’s
243 interpretation where the facts are not comparable to the facts
244 in Crescent. However, because the Supreme Court’s
245 interpretation, combined with other settled law regarding the
246 application of s. 201.02, Florida Statutes, allows for the tax
247 free transfer of ownership interests in real property from one
248 owner to another through the use of artificial entities, it is
249 the Legislature’s intent by this act to impose the documentary
250 stamp tax when the beneficial ownership of real property is
251 transferred to a new owner or owners by the use of techniques
252 that apply the Supreme Court’s decision in Crescent in
253 combination with transfers of ownership of, or distributions
254 from, artificial entities.
255 Section 4. Subsection (1) of section 201.02, Florida
256 Statutes, is amended, and subsection (11) is added to that
257 section, to read:
258 201.02 Tax on deeds and other instruments relating to real
259 property or interests in real property.—
260 (1)(a) On deeds, instruments, or writings whereby any
261 lands, tenements, or other real property, or any interest
262 therein, shall be granted, assigned, transferred, or otherwise
263 conveyed to, or vested in, the purchaser or any other person by
264 his or her direction, on each $100 of the consideration therefor
265 the tax shall be 70 cents. When the full amount of the
266 consideration for the execution, assignment, transfer, or
267 conveyance is not shown in the face of such deed, instrument,
268 document, or writing, the tax shall be at the rate of 70 cents
269 for each $100 or fractional part thereof of the consideration
270 therefor. For purposes of this section, consideration includes,
271 but is not limited to, the money paid or agreed to be paid; the
272 discharge of an obligation; and the amount of any mortgage,
273 purchase money mortgage lien, or other encumbrance, whether or
274 not the underlying indebtedness is assumed. If the consideration
275 paid or given in exchange for real property or any interest
276 therein includes property other than money, it is presumed that
277 the consideration is equal to the fair market value of the real
278 property or interest therein.
279 (b)1. For purposes of this paragraph the term:
280 a. “Conduit entity” means a legal entity to which real
281 property is conveyed without full consideration by a grantor who
282 owns a direct or indirect interest in the entity, or a successor
283 entity.
284 b. “Full consideration” means the consideration that would
285 be paid in an arm’s length transaction between unrelated
286 parties.
287 2. When real property is conveyed to a conduit entity and
288 all or a portion of the grantor’s direct or indirect ownership
289 interest in the conduit entity is subsequently transferred for
290 consideration within 3 years of such conveyance, tax is imposed
291 on each such transfer of an interest in the conduit entity for
292 consideration at the rate of 70 cents for each $100 or fraction
293 thereof of the consideration paid or given in exchange for the
294 ownership interest in the conduit entity.
295 3. When the ownership interest in the conduit entity being
296 transferred includes assets other than the real property
297 conveyed to the conduit entity, the tax shall be prorated based
298 on the percentage the value of such real property represents of
299 the total value of all assets owned by the conduit entity.
300 4. A gift of an ownership interest in a conduit entity is
301 not subject to tax to the extent there is no consideration. The
302 transfer of shares or similar equity interests in a conduit
303 entity which are dealt in or traded on public, regulated
304 security exchanges or markets is not subject to tax under this
305 paragraph.
306 5. The transfer for purposes of estate planning by a
307 natural person of an interest in a conduit entity to an
308 irrevocable grantor trust as described in subpart E of part I of
309 subchapter J of chapter 1 of subtitle A of the United States
310 Internal Revenue Code is not subject to tax under this
311 paragraph.
312 6. The purpose of this paragraph is to impose the
313 documentary stamp tax on the transfer for consideration of a
314 beneficial interest in real property. The provisions of this
315 paragraph are to be construed liberally to effectuate this
316 purpose.
317 (c) Conversion or merger of a trust that is not a legal
318 entity that owns real property in this state into a legal entity
319 shall be treated as a conveyance of the real property for the
320 purposes of this section.
321 (d) Taxes imposed by this subsection shall be paid pursuant
322 to s. 201.133 when no document is recorded. If a document is
323 recorded, taxes imposed by the paragraph shall be paid as
324 required for all other taxable documents that are recorded.
325 (11) The documentary stamp tax imposed by this section
326 applies to a deed, instrument, or writing that transfers any
327 interest in real property pursuant to a short sale, as defined
328 in this subsection. The taxable consideration for a short sale
329 transfer does not include unpaid indebtedness that is forgiven
330 or released by a mortgagee holding a mortgage on the grantor’s
331 interest in the property. A short sale is a purchase and sale of
332 real property in which:
333 (a) The grantor’s interest in the real property is
334 encumbered by a mortgage or mortgages securing indebtedness in
335 an aggregate amount greater than the purchase price paid by the
336 grantee;
337 (b) A mortgagee releases the real property from its
338 mortgage in exchange for a partial payment of less than all of
339 the outstanding mortgage indebtedness owing to the releasing
340 mortgagee;
341 (c) The releasing mortgagee does not receive, directly or
342 indirectly, any interest in the property transferred; and
343 (d) The releasing mortgagee, grantor, and grantee are
344 dealing with each other at arm’s length.
345 Section 5. The amendments to subsections (1) and (11) of s.
346 201.02, Florida Statutes, made by this act and the provisions of
347 section 3 of this act are intended to be clarifying and remedial
348 in nature, but do not provide a basis for assessments of tax, or
349 refunds of tax, for periods before July 1, 2009.
350 Section 6. Effective upon this act becoming a law, the
351 Department of Revenue is authorized, and all conditions are
352 deemed met, to adopt emergency rules pursuant to ss. 120.536(1)
353 and 120.54(4), Florida Statutes, to implement s. 201.02, Florida
354 Statutes, as amended by section 4 of this act. Notwithstanding
355 any other provision of law, such emergency rules shall remain
356 effective for 6 months after the date of adoption and may be
357 renewed during the pendency of procedures to adopt rules
358 addressing the subject of the emergency rules.
359 Section 7. Section 201.031, Florida Statutes, is amended to
360 read:
361 201.031 Discretionary surtax; administration and
362 collection; Housing Assistance Loan Trust Fund; reporting
363 requirements.—
364 (1) Each county, as defined by s. 125.011(1), may levy,
365 subject to the provisions of s. 125.0167, a discretionary surtax
366 on documents taxable under the provisions of s. 201.02, except
367 that there shall be no surtax on any document pursuant to which
368 the interest granted, assigned, transferred, or conveyed
369 involves only a single-family residence. The Such single-family
370 residence may be a condominium unit, a unit held through stock
371 ownership or membership representing a proprietary interest in a
372 corporation owning a fee or a leasehold initially in excess of
373 98 years, or a detached dwelling.
374 (2) All provisions of chapter 201, except s. 201.15, shall
375 apply to the surtax. The Department of Revenue shall pay to the
376 governing authority of the county which levies the surtax all
377 taxes, penalties, and interest collected under this section less
378 any costs of administration.
379 (3) Each county that which levies the surtax shall:
380 (a) Include in the financial report required under s.
381 218.32 information showing the revenues and the expenses of the
382 trust fund for the fiscal year.
383 (b) Adopt a housing plan every 3 years which includes
384 provisions substantially similar to the plans required in s.
385 420.9075(1).
386 (c) Have adopted an affordable housing element of its
387 comprehensive land use plan which complies with s.
388 163.3177(6)(f).
389 (d) Require by resolution that the staff or entity that has
390 administrative authority for implementing the housing plan
391 prepare and submit to the county’s governing body an annual
392 report substantially similar to the annual report required in s.
393 420.9075(10).
394 Section 8. Paragraph (a) of subsection (1) of section
395 719.105, Florida Statutes, is amended to read:
396 719.105 Cooperative parcels; appurtenances; possession and
397 enjoyment.—
398 (1) Each cooperative parcel has, as appurtenances thereto:
399 (a) Evidence of membership, ownership of shares, or other
400 interest in the association with the full voting rights
401 appertaining thereto. Such evidence must include a legal
402 description of each dwelling unit and must be recorded in the
403 office of the clerk of the circuit court as required by s.
404 201.02(4) s. 201.02(3).
405 Section 9. Pursuant to s. 201.15(1)(a), Florida Statutes,
406 the issuance of $50 million of Florida Forever bonds is
407 authorized, in addition to any previously authorized bonds. For
408 the 2009-2010 fiscal year, the sum of $3,502,005 is appropriated
409 from the Land Acquisition Trust Fund to the Department of
410 Environmental Protection for debt service on the new bonds. The
411 proceeds of such bonds shall be distributed in accordance with
412 s. 259.105(3), Florida Statutes. The Department of Environmental
413 Protection and the agencies receiving such bond proceeds are
414 appropriated budget authority necessary to transfer and expend
415 the respective amounts of the distributed bond proceeds.
416 Section 10. (1) Pursuant to s. 215.619(1), Florida
417 Statutes, the issuance of $50 million of Everglades Restoration
418 bonds is authorized, in addition to any previously authorized
419 bonds. For the 2009-2010 fiscal year, the sum of $4,991,600 is
420 appropriated from the Save Our Everglades Trust Fund to the
421 Department of Environmental Protection for debt service on the
422 new bonds.
423 (2) The sum of $47 million is appropriated from the Save
424 Our Everglades Trust Fund to the Department of Environmental
425 Protection for the design and construction of Comprehensive
426 Everglades Restoration Plan components, Lake Okeechobee
427 Protection Plan components, and Caloosahatchee and St. Lucie
428 River Watershed Protection Plan components, and for the
429 acquisition of lands needed for these project components. The
430 sum of $3 million is appropriated from the Save Our Everglades
431 Trust Fund to the Department of Environmental Protection for
432 transfer to the Department of Agriculture and Consumer Services
433 into the General Inspection Trust Fund to fund activities
434 authorized in subsection (3).
435 (3) The sum of $3 million is appropriated from the General
436 Inspections Trust Fund to the Department of Agriculture and
437 Consumer Services for the purpose of implementing agricultural
438 nonpoint source controls in the Okeechobee, Caloosahatchee, and
439 St. Lucie River watersheds.
440 Section 11. Section 201.15, Florida Statutes, as amended by
441 section 1 of chapter 2009-17, Laws of Florida, is amended to
442 read:
443 201.15 Distribution of taxes collected.—All taxes collected
444 under this chapter are subject to the service charge imposed in
445 s. 215.20(1). Prior to distribution under this section, the
446 Department of Revenue shall deduct amounts necessary to pay the
447 costs of the collection and enforcement of the tax levied by
448 this chapter. Such costs and the service charge may not be
449 levied against any portion of taxes pledged to debt service on
450 bonds to the extent that the costs and service charge are
451 required to pay any amounts relating to the bonds. After
452 distributions are made pursuant to subsection (1), all of the
453 costs of the collection and enforcement of the tax levied by
454 this chapter and the service charge shall be available and
455 transferred to the extent necessary to pay debt service and any
456 other amounts payable with respect to bonds authorized before
457 January 1, 2010, secured by revenues distributed pursuant to
458 subsection (1). All taxes remaining after deduction of costs and
459 the service charge shall be distributed as follows:
460 (1) Sixty-three and thirty-one hundredths percent of the
461 remaining taxes collected under this chapter shall be used for
462 the following purposes:
463 (a) Amounts necessary to pay the debt service on, or fund
464 debt service reserve funds, rebate obligations, or other amounts
465 payable with respect to Preservation 2000 bonds issued pursuant
466 to s. 375.051 and Florida Forever bonds issued pursuant to s.
467 215.618, shall be paid into the State Treasury to the credit of
468 the Land Acquisition Trust Fund to be used for such purposes.
469 The amount transferred to the Land Acquisition Trust Fund may
470 not exceed $300 million in fiscal year 1999-2000 and thereafter
471 for Preservation 2000 bonds and bonds issued to refund
472 Preservation 2000 bonds, and $300 million in fiscal year 2000
473 2001 and thereafter for Florida Forever bonds. The annual amount
474 transferred to the Land Acquisition Trust Fund for Florida
475 Forever bonds may not exceed $30 million in the first fiscal
476 year in which bonds are issued. The limitation on the amount
477 transferred shall be increased by an additional $30 million in
478 each subsequent fiscal year, but may not exceed a total of $300
479 million in any fiscal year for all bonds issued. It is the
480 intent of the Legislature that all bonds issued to fund the
481 Florida Forever Act be retired by December 31, 2040. Except for
482 bonds issued to refund previously issued bonds, no series of
483 bonds may be issued pursuant to this paragraph unless such bonds
484 are approved and the debt service for the remainder of the
485 fiscal year in which the bonds are issued is specifically
486 appropriated in the General Appropriations Act. For purposes of
487 refunding Preservation 2000 bonds, amounts designated within
488 this section for Preservation 2000 and Florida Forever bonds may
489 be transferred between the two programs to the extent provided
490 for in the documents authorizing the issuance of the bonds. The
491 Preservation 2000 bonds and Florida Forever bonds shall be
492 equally and ratably secured by moneys distributable to the Land
493 Acquisition Trust Fund pursuant to this section, except to the
494 extent specifically provided otherwise by the documents
495 authorizing the issuance of the bonds. No moneys transferred to
496 the Land Acquisition Trust Fund pursuant to this paragraph, or
497 earnings thereon, shall be used or made available to pay debt
498 service on the Save Our Coast revenue bonds.
499 (b) Moneys shall be paid into the State Treasury to the
500 credit of the Save Our Everglades Trust Fund in amounts
501 necessary to pay debt service, provide reserves, and pay rebate
502 obligations and other amounts due with respect to bonds issued
503 under s. 215.619. Taxes distributed under paragraph (a) and this
504 paragraph must be collectively distributed on a pro rata basis
505 when the available moneys under this subsection are not
506 sufficient to cover the amounts required under paragraph (a) and
507 this paragraph.
508 (c) The remainder of the moneys distributed under this
509 subsection, after the required payments under paragraphs (a) and
510 (b), shall be paid into the State Treasury to the credit of:
511 1. The State Transportation Trust Fund in the Department of
512 Transportation in the amount of the lesser of 38.2 percent of
513 the remainder or $541.75 million in each fiscal year, to be used
514 for the following specified purposes, notwithstanding any other
515 law to the contrary:
516 a. For the purposes of capital funding for the New Starts
517 Transit Program, authorized by Title 49, U.S.C. s. 5309 and
518 specified in s. 341.051, 10 percent of these funds;
519 b. For the purposes of the Small County Outreach Program
520 specified in s. 339.2818, 5 percent of these funds;
521 c. For the purposes of the Strategic Intermodal System
522 specified in ss. 339.61, 339.62, 339.63, and 339.64, 75 percent
523 of these funds after allocating for the New Starts Transit
524 Program described in sub-subparagraph a. and the Small County
525 Outreach Program described in sub-subparagraph b.; and
526 d. For the purposes of the Transportation Regional
527 Incentive Program specified in s. 339.2819, 25 percent of these
528 funds after allocating for the New Starts Transit Program
529 described in sub-subparagraph a. and the Small County Outreach
530 Program described in sub-subparagraph b.
531 2. The Water Protection and Sustainability Program Trust
532 Fund in the Department of Environmental Protection in the amount
533 of the lesser of 5.64 percent of the remainder or $80 million in
534 each fiscal year, to be used as required by s. 403.890.
535 3. The Grants and Donations Trust Fund in the Department of
536 Community Affairs in the amount of the lesser of .23 percent of
537 the remainder or $3.25 million in each fiscal year, with 92
538 percent to be used to fund technical assistance to local
539 governments and school boards on the requirements and
540 implementation of this act and the remaining amount to be used
541 to fund the Century Commission established in s. 163.3247.
542 4. The Ecosystem Management and Restoration Trust Fund in
543 the amount of the lesser of 2.12 percent of the remainder or $30
544 million in each fiscal year, to be used for the preservation and
545 repair of the state’s beaches as provided in ss. 161.091
546 161.212.
547 5. The Marine Resources Conservation Trust Fund in the
548 amount of the lesser of .14 percent of the remainder or $2
549 million in each fiscal year, to be used for marine mammal care
550 as provided in s. 379.208(3).
551 6. General Inspection Trust Fund in the amount of the
552 lesser of .02 percent of the remainder or $300,000 in each
553 fiscal year to be used to fund oyster management and restoration
554 programs as provided in s. 379.362(3).
555
556 Moneys distributed pursuant to this paragraph may not be pledged
557 for debt service unless such pledge is approved by referendum of
558 the voters.
559 (d) The remainder of the moneys distributed under this
560 subsection, after the required payments under paragraphs (a),
561 (b), and (c), shall be paid into the State Treasury to the
562 credit of the General Revenue Fund to be used and expended for
563 the purposes for which the General Revenue Fund was created and
564 exists by law.
565 (2) The lesser of 7.56 percent of the remaining taxes
566 collected under this chapter or $84.9 million in each fiscal
567 year shall be paid into the State Treasury to the credit of the
568 Land Acquisition Trust Fund. Sums deposited in the fund pursuant
569 to this subsection may be used for any purpose for which funds
570 deposited in the Land Acquisition Trust Fund may lawfully be
571 used.
572 (3)(a) Through the 2008-2009 fiscal year, the lesser of
573 1.94 percent of the remaining taxes collected under this chapter
574 or $26 million in each fiscal year shall be paid into the State
575 Treasury to the credit of the Land Acquisition Trust Fund.
576 (b) Beginning with the 2009-2010 fiscal year, the lesser of
577 1.94 percent of the remaining taxes collected under this chapter
578 or $26 million in each fiscal year shall be distributed in the
579 following order:
580 1. Amounts necessary to pay debt service or to fund debt
581 service reserve funds, rebate obligations, or other amounts
582 payable with respect to bonds issued before February 1, 2009,
583 pursuant to this subsection shall be paid into the State
584 Treasury to the credit of the Land Acquisition Trust Fund.
585 2. Eleven million dollars shall be paid into the State
586 Treasury to the credit of the General Revenue Fund.
587 3. The remainder shall be paid into the State Treasury to
588 the credit of the Land Acquisition Trust Fund.
589 (c) Moneys deposited in the Land Acquisition Trust Fund
590 pursuant to this subsection shall be used to acquire coastal
591 lands or to pay debt service on bonds issued to acquire coastal
592 lands and to develop and manage lands acquired with moneys from
593 the trust fund.
594 (4) The lesser of 4.2 percent of the remaining taxes
595 collected under this chapter or $60.5 million in each fiscal
596 year shall be paid into the State Treasury to the credit of the
597 Water Management Lands Trust Fund. Sums deposited in that fund
598 may be used for any purpose authorized in s. 373.59.
599 (5)(a) For the 2007-2008 fiscal year, 3.96 percent of the
600 remaining taxes collected under this chapter shall be paid into
601 the State Treasury to the credit of the Conservation and
602 Recreation Lands Trust Fund to carry out the purposes set forth
603 in s. 259.032. Ten and five-hundredths percent of the amount
604 credited to the Conservation and Recreation Lands Trust Fund
605 pursuant to this subsection shall be transferred to the State
606 Game Trust Fund and used for land management activities.
607 (b) Beginning July 1, 2008, 3.52 percent of the remaining
608 taxes collected under this chapter shall be paid into the State
609 Treasury to the credit of the Conservation and Recreation Lands
610 Trust Fund to carry out the purposes set forth in s. 259.032.
611 Eleven and fifteen hundredths percent of the amount credited to
612 the Conservation and Recreation Lands Trust Fund pursuant to
613 this subsection shall be transferred to the State Game Trust
614 Fund and used for land management activities.
615 (6) The lesser of 2.28 percent of the remaining taxes
616 collected under this chapter or $34.1 million in each fiscal
617 year shall be paid into the State Treasury to the credit of the
618 Invasive Plant Control Trust Fund to carry out the purposes set
619 forth in ss. 369.22 and 369.252.
620 (7) The lesser of .5 percent of the remaining taxes
621 collected under this chapter or $9.3 million in each fiscal year
622 shall be paid into the State Treasury to the credit of the State
623 Game Trust Fund to be used exclusively for the purpose of
624 implementing the Lake Restoration 2020 Program.
625 (8) One-half of one percent of the remaining taxes
626 collected under this chapter shall be paid into the State
627 Treasury and divided equally to the credit of the Department of
628 Environmental Protection Water Quality Assurance Trust Fund to
629 address water quality impacts associated with nonagricultural
630 nonpoint sources and to the credit of the Department of
631 Agriculture and Consumer Services General Inspection Trust Fund
632 to address water quality impacts associated with agricultural
633 nonpoint sources, respectively. These funds shall be used for
634 research, development, demonstration, and implementation of
635 suitable best management practices or other measures used to
636 achieve water quality standards in surface waters and water
637 segments identified pursuant to ss. 303(d) of the Clean Water
638 Act, Pub. L. No. 92-500, 33 U.S.C. ss. 1251 et seq.
639 Implementation of best management practices and other measures
640 may include cost-share grants, technical assistance,
641 implementation tracking, and conservation leases or other
642 agreements for water quality improvement. The Department of
643 Environmental Protection and the Department of Agriculture and
644 Consumer Services may adopt rules governing the distribution of
645 funds for implementation of best management practices. The
646 unobligated balance of funds received from the distribution of
647 taxes collected under this chapter to address water quality
648 impacts associated with nonagricultural nonpoint sources will be
649 excluded when calculating the unobligated balance of the Water
650 Quality Assurance Trust Fund as it relates to the determination
651 of the applicable excise tax rate.
652 (9) The lesser of 7.53 percent of the remaining taxes
653 collected under this chapter or $107 million in each fiscal year
654 shall be paid into the State Treasury to the credit of the State
655 Housing Trust Fund and shall be used as follows:
656 (a) Half of that amount shall be used for the purposes for
657 which the State Housing Trust Fund was created and exists by
658 law.
659 (b) Half of that amount shall be paid into the State
660 Treasury to the credit of the Local Government Housing Trust
661 Fund and shall be used for the purposes for which the Local
662 Government Housing Trust Fund was created and exists by law.
663 (10) The lesser of 8.66 percent of the remaining taxes
664 collected under this chapter or $136 million in each fiscal year
665 shall be paid into the State Treasury to the credit of the State
666 Housing Trust Fund and shall be used as follows:
667 (a) Twelve and one-half percent of that amount shall be
668 deposited into the State Housing Trust Fund and be expended by
669 the Department of Community Affairs and by the Florida Housing
670 Finance Corporation for the purposes for which the State Housing
671 Trust Fund was created and exists by law.
672 (b) Eighty-seven and one-half percent of that amount shall
673 be distributed to the Local Government Housing Trust Fund and
674 shall be used for the purposes for which the Local Government
675 Housing Trust Fund was created and exists by law. Funds from
676 this category may also be used to provide for state and local
677 services to assist the homeless.
678 (11) The distribution of proceeds deposited into the Water
679 Management Lands Trust Fund and the Conservation and Recreation
680 Lands Trust Fund, pursuant to subsections (4) and (5), may not
681 be used for land acquisition but may be used for preacquisition
682 costs associated with land purchases. The Legislature intends
683 that the Florida Forever program supplant the acquisition
684 programs formerly authorized under ss. 259.032 and 373.59.
685 (12) Amounts distributed pursuant to subsections (5), (6),
686 (7), and (8) are subject to the payment of debt service on
687 outstanding Conservation and Recreation Lands revenue bonds.
688 (13) Beginning July 1, 2008, in each fiscal year that the
689 remaining taxes collected under this chapter exceed collections
690 in the prior fiscal year, the stated maximum dollar amounts
691 provided in subsections (2), (4), (6), (7), (9), and (10) shall
692 each be increased by an amount equal to 10 percent of the
693 increase in the remaining taxes collected under this chapter
694 multiplied by the applicable percentage provided in those
695 subsections.
696 (14) If the payment requirements in any year for bonds
697 outstanding on July 1, 2007, or bonds issued to refund such
698 bonds, exceed the limitations of this section, distributions to
699 the trust fund from which the bond payments are made shall be
700 increased to the lesser of the amount needed to pay bond
701 obligations or the limit of the applicable percentage
702 distribution provided in subsections (1)-(10).
703 (15) Distributions to the State Housing Trust Fund pursuant
704 to subsections (9) and (10) shall be sufficient to cover amounts
705 required to be transferred to the Florida Affordable Housing
706 Guarantee Program’s annual debt service reserve and guarantee
707 fund pursuant to s. 420.5092(6)(a) and (b) up to but not
708 exceeding the amount required to be transferred to such reserve
709 and fund based on the percentage distribution of documentary
710 stamp tax revenues to the State Housing Trust Fund which is in
711 effect in the 2004-2005 fiscal year.
712 (16) If amounts necessary to pay debt service or any other
713 amounts payable with respect to Preservation 2000 bonds, Florida
714 Forever bonds, or Everglades Restoration bonds authorized before
715 January 1, 2010, exceed the amounts distributable pursuant to
716 subsection (1), all moneys distributable pursuant to this
717 section are available for such obligations and transferred in
718 the amounts necessary to pay such obligations when due. However,
719 amounts distributable pursuant to subsection (2), subsection
720 (3), subsection (4), subsection (5), paragraph (9)(a), or
721 paragraph (10)(a) are not available to pay such obligations to
722 the extent that such moneys are necessary to pay debt service on
723 bonds secured by revenues pursuant to those provisions.
724 (17)(16) The remaining taxes collected under this chapter,
725 after the distributions provided in the preceding subsections,
726 shall be paid into the State Treasury to the credit of the
727 General Revenue Fund.
728 Section 12. Except as otherwise expressly provided in this
729 act and except for this section, which shall take effect upon
730 becoming law, this act shall take effect on July 1, 2009, and
731 the amendment to s. 201.02(1), Florida Statutes, made by this
732 act, applies to transfers for which the first transfer to a
733 conduit entity occurs after July 1, 2009.