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 these 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 previously established amendments. Additionally, the bill makes conforming amendments to various sections of Florida Statutes to ensure consistency with these changes.

The bill further details the allocation of remaining taxes, designating funds for the Land Acquisition Trust Fund, State Housing Trust Fund, and other funds aimed at transportation, economic development, and environmental protection. It explicitly states that funds allocated to the State Housing Trust Fund and Local Government Housing Trust Fund cannot be transferred to the General Revenue Fund. Moreover, the bill outlines a new framework for the distribution of funds from the Local Government Housing Trust Fund, specifying that the Chief Financial Officer will transfer funds based on certified claims payment obligations, with a cap of 50% of the previous fiscal year's distribution. The methodology for calculating guaranteed amounts for each county is also established, ensuring equitable distribution based on population percentages, with these provisions 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