House Bill 5501 amends section 201.15 of the Florida Statutes to introduce a specified service charge on certain taxes collected under the documentary stamp tax. The bill prioritizes the payment of service charges and costs of collection over other distributions of the remaining taxes. It also repeals section 420.50871, which pertains to the allocation of increased documentary stamp tax revenues, and removes expiration dates for certain amendments established in previous laws. Additionally, the bill makes conforming amendments to various sections of Florida Statutes to ensure consistency with these changes.

The bill further updates the distribution process for funds from the Local Government Housing Trust Fund by revising legal references to specific subsections of section 201.15. It replaces references to subsections (4)(c) and (4)(d) with (4)(b) and (4)(c), affecting how funds are calculated and allocated to counties. The Chief Financial Officer is tasked with transferring necessary funds to the guarantee fund based on these new calculations, capped at 50 percent of the amounts distributed in the previous fiscal year. The guaranteed amount for each county is set at $350,000 multiplied by a fraction reflecting the new distribution under the updated subsections. The bill is scheduled to take effect on July 1, 2025, aiming to enhance the funding process for local housing initiatives in Florida.

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