House Bill 5501 amends section 201.15 of the Florida Statutes to revise the distribution of documentary stamp tax revenues, introducing a specified service charge for certain taxes collected under this chapter, with the exception of those allocated to the Land Acquisition Trust Fund. The bill prioritizes the payment of these service charges and collection costs after ensuring funds are available for bond payments. It also repeals section 420.50871, which pertains to the allocation of increased documentary stamp tax revenues, and removes expiration dates for certain amendments in previous laws, thereby streamlining the allocation process.

Additionally, the bill updates the distribution process for funds from the Local Government Housing Trust Fund, specifying that the Chief Financial Officer will transfer funds to the guarantee fund based on certified claims payment obligations, with the transfer amount capped at 50% of the previous fiscal year's distributions. It modifies the calculation of each county's share of funds, ensuring it reflects the updated subsections of section 201.15, while deleting outdated references. The guaranteed amounts for each county will be calculated based on the funds distributed to the Local Government Housing Trust Fund, aiming to ensure equitable distribution of housing funds. The act is set to take effect on July 1, 2025.

Statutes affected:
H 5501 Filed: 201.15, 201.0205, 339.0801, 339.55, 341.303, 343.58