Florida Senate - 2009                        COMMITTEE AMENDMENT
       Bill No. CS for SB 728
       
       
       
       
       
       
                                Barcode 924612                          
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: RCS            .                                
                  04/02/2009           .                                
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       The Committee on Finance and Tax (Bennett) recommended the
       following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Delete lines 159 - 164
    4  and insert:
    5  
    6         (c) The releasing mortgagee does not receive, directly or
    7  indirectly, any interest in the property transferred; and
    8         (d) The releasing mortgagee, grantor, and grantee are
    9  dealing with each other at arm’s length.
   10         Section. 2. The Department of Revenue may adopt rules to
   11  specify criteria indicating that a purported short sale is not
   12  an arm’s length transaction.
   13  
   14  ================= T I T L E  A M E N D M E N T ================
   15         And the title is amended as follows:
   16         Delete line 9
   17  and insert:
   18  
   19  sale”; authorizing the Department of Revenue to adopt criteria
   20  by rule indicating that a purported short sale is not an arm’s
   21  length transaction; providing an effective date.