Florida Senate - 2009                                     SB 728
       
       
       
       By Senator Bennett
       
       
       
       
       21-00779-09                                            2009728__
    1                        A bill to be entitled                      
    2         An act relating to the excise tax on documents;
    3         amending s. 201.02, F.S.; limiting the imposition of
    4         the tax to the amount of certain consideration paid
    5         for certain property; providing an effective date.
    6         
    7  Be It Enacted by the Legislature of the State of Florida:
    8         
    9         Section 1. Subsection (1) of section 201.02, Florida
   10  Statutes, is amended to read:
   11         201.02 Tax on deeds and other instruments relating to real
   12  property or interests in real property.—
   13         (1) On deeds, instruments, or writings whereby any lands,
   14  tenements, or other real property, or any interest therein,
   15  shall be granted, assigned, transferred, or otherwise conveyed
   16  to, or vested in, the purchaser or any other person by his or
   17  her direction, on each $100 of the consideration therefor the
   18  tax shall be 70 cents. When the full amount of the consideration
   19  for the execution, assignment, transfer, or conveyance is not
   20  shown in the face of such deed, instrument, document, or
   21  writing, the tax shall be at the rate of 70 cents for each $100
   22  or fractional part thereof of the consideration therefor. For
   23  purposes of this section, consideration includes, but is not
   24  limited to, the money paid or agreed to be paid; the discharge
   25  of an obligation; and the amount of any mortgage, purchase money
   26  mortgage lien, or other encumbrance, whether or not the
   27  underlying indebtedness is assumed. If the consideration paid or
   28  given in exchange for real property or any interest therein
   29  includes property other than money, it is presumed that the
   30  consideration is equal to the fair market value of the real
   31  property or interest therein. Notwithstanding this subsection,
   32  when the consideration paid or given in exchange for real
   33  property or any interest in real property is less than the
   34  amount owed on a mortgage on such property, the tax shall be
   35  imposed solely upon the amount of such consideration.
   36         Section 2. This act shall take effect July 1, 2009.