This bill amends Florida Statutes to exempt first-time homebuyers from documentary stamp taxes on certain transactions related to the purchase of residential property. Specifically, it introduces a new subsection in section 201.02 that states taxes do not apply to deeds, transfers, or conveyances of residential property to first-time homebuyers for use as their principal residence. The bill defines a first-time homebuyer as an individual who has not owned a principal residence in the past three years and qualifies as a moderate-income person as defined in section 420.602.

Additionally, the bill amends section 201.08 to specify that documentary stamp taxes will not apply to certain documents executed by first-time homebuyers in connection with their principal residence purchase. This provision also includes the same definition of a first-time homebuyer. The act is set to take effect on July 1, 2026.