F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
HB 5401 2021
1 A bill to be entitled
2 An act relating to documentary stamp tax
3 distributions; amending s. 201.15, F.S.; revising and
4 deleting distributions of the documentary stamp taxes
5 collected; providing that specified distributions may
6 not be transferred to the General Revenue Fund;
7 amending s. 403.890, F.S.; authorizing revenues from
8 the Water Protection and Sustainability Program Trust
9 Fund to be distributed to the wastewater grant
10 program; reenacting ss. 201.0205, 339.55(9),
11 420.5092(5) and (6), and 420.9073(1), (2), and (3),
12 F.S., relating to counties that have implemented ch.
13 83-220, Laws of Florida, as amended, the state-funded
14 infrastructure bank, the Florida Affordable Housing
15 Guarantee Program, and local housing distributions,
16 respectively, to incorporate the amendments made to s.
17 201.15, F.S., in references thereto; providing a
18 contingent effective date.
19
20 Be It Enacted by the Legislature of the State of Florida:
21
22 Section 1. Subsections (4) and (5) of section 201.15,
23 Florida Statutes, are amended to read:
24 201.15 Distribution of taxes collected.—All taxes
25 collected under this chapter are hereby pledged and shall be
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26 first made available to make payments when due on bonds issued
27 pursuant to s. 215.618 or s. 215.619, or any other bonds
28 authorized to be issued on a parity basis with such bonds. Such
29 pledge and availability for the payment of these bonds shall
30 have priority over any requirement for the payment of service
31 charges or costs of collection and enforcement under this
32 section. All taxes collected under this chapter, except taxes
33 distributed to the Land Acquisition Trust Fund pursuant to
34 subsections (1) and (2), are subject to the service charge
35 imposed in s. 215.20(1). Before distribution pursuant to this
36 section, the Department of Revenue shall deduct amounts
37 necessary to pay the costs of the collection and enforcement of
38 the tax levied by this chapter. The costs and service charge may
39 not be levied against any portion of taxes pledged to debt
40 service on bonds to the extent that the costs and service charge
41 are required to pay any amounts relating to the bonds. All of
42 the costs of the collection and enforcement of the tax levied by
43 this chapter and the service charge shall be available and
44 transferred to the extent necessary to pay debt service and any
45 other amounts payable with respect to bonds authorized before
46 January 1, 2017, secured by revenues distributed pursuant to
47 this section. All taxes remaining after deduction of costs shall
48 be distributed as follows:
49 (4) After the required distributions to the Land
50 Acquisition Trust Fund pursuant to subsections (1) and (2) and
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51 deduction of the service charge imposed pursuant to s.
52 215.20(1), the remainder shall be distributed as follows:
53 (a) The lesser of 20.5453 24.18442 percent of the
54 remainder or $466.75 million $541.75 million in each fiscal year
55 shall be paid into the State Treasury to the credit of the State
56 Transportation Trust Fund. Of such funds, $75 million for each
57 fiscal year shall be transferred to the General Revenue Fund.
58 Notwithstanding any other law, the remaining amount credited to
59 the State Transportation Trust Fund shall be used for:
60 1. Capital funding for the New Starts Transit Program,
61 authorized by Title 49, U.S.C. s. 5309 and specified in s.
62 341.051, in the amount of 10 percent of the funds;
63 2. The Small County Outreach Program specified in s.
64 339.2818, in the amount of 10 percent of the funds;
65 3. The Strategic Intermodal System specified in ss.
66 339.61, 339.62, 339.63, and 339.64, in the amount of 75 percent
67 of the funds after deduction of the payments required pursuant
68 to subparagraphs 1. and 2.; and
69 4. The Transportation Regional Incentive Program specified
70 in s. 339.2819, in the amount of 25 percent of the funds after
71 deduction of the payments required pursuant to subparagraphs 1.
72 and 2. The first $60 million of the funds allocated pursuant to
73 this subparagraph shall be allocated annually to the Florida
74 Rail Enterprise for the purposes established in s. 341.303(5).
75 (b) The lesser of 0.1456 percent of the remainder or $3.25
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76 million in each fiscal year shall be paid into the State
77 Treasury to the credit of the Grants and Donations Trust Fund in
78 the Department of Economic Opportunity to fund technical
79 assistance to local governments.
80
81 Moneys distributed pursuant to paragraphs (a) and (b) may not be
82 pledged for debt service unless such pledge is approved by
83 referendum of the voters.
84 (c) Three Eleven and twenty-four hundredths percent of the
85 remainder in each fiscal year shall be paid into the State
86 Treasury to the credit of the State Housing Trust Fund. Of such
87 funds, the first $35 million shall be transferred annually,
88 subject to any distribution required under subsection (5), to
89 the State Economic Enhancement and Development Trust Fund within
90 the Department of Economic Opportunity. The funds remainder
91 shall be used as follows:
92 1. Half of that amount shall be used for the purposes for
93 which the State Housing Trust Fund was created and exists by
94 law.
95 2. Half of that amount shall be paid into the State
96 Treasury to the credit of the Local Government Housing Trust
97 Fund and used for the purposes for which the Local Government
98 Housing Trust Fund was created and exists by law.
99 (d) An amount equal to 3.84519 Twelve and ninety-three
100 hundredths percent of the remainder in each fiscal year shall be
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101 paid into the State Treasury to the credit of the State Housing
102 Trust Fund. Of such funds, the first $40 million shall be
103 transferred annually, subject to any distribution required under
104 subsection (5), to the State Economic Enhancement and
105 Development Trust Fund within the Department of Economic
106 Opportunity. The remainder shall be used as follows:
107 1. Twelve and one-half percent of that amount shall be
108 deposited into the State Housing Trust Fund and expended by the
109 Department of Economic Opportunity and the Florida Housing
110 Finance Corporation for the purposes for which the State Housing
111 Trust Fund was created and exists by law.
112 2. Eighty-seven and one-half percent of that amount shall
113 be distributed to the Local Government Housing Trust Fund and
114 used for the purposes for which the Local Government Housing
115 Trust Fund was created and exists by law. Funds from this
116 category may also be used to provide for state and local
117 services to assist the homeless.
118 (e) The lesser of 0.017 percent of the remainder or
119 $300,000 in each fiscal year shall be paid into the State
120 Treasury to the credit of the General Inspection Trust Fund to
121 be used to fund oyster management and restoration programs as
122 provided in s. 379.362(3).
123 (f) A total of $75 million shall be paid into the State
124 Treasury to the credit of the State Economic Enhancement and
125 Development Trust Fund within the Department of Economic
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126 Opportunity.
127 (g) An amount equal to 6.84519 percent of the remainder
128 shall be paid into the Resilient Florida Trust Fund to be used
129 for the purposes for which the Resilient Florida Trust Fund was
130 created and exists by law. Funds may be used for planning and
131 project grants.
132 (h) An amount equal to 6.84519 percent of the remainder
133 shall be paid into the Water Protection and Sustainability
134 Program Trust Fund to be used for wastewater grants as specified
135 in s. 403.0673.
136 (5) Notwithstanding s. 215.32(2)(b)4.a., funds distributed
137 to the State Housing Trust Fund and the Local Government Housing
138 Trust Fund pursuant to paragraph (4)(c) may not be transferred
139 to the General Revenue Fund in the General Appropriations Act
140 Distributions to the State Housing Trust Fund pursuant to
141 paragraphs (4)(c) and (d) must be sufficient to cover amounts
142 required to be transferred to the Florida Affordable Housing
143 Guarantee Program's annual debt service reserve and guarantee
144 fund pursuant to s. 420.5092(6)(a) and (b) up to the amount
145 required to be transferred to such reserve and fund based on the
146 percentage distribution of documentary stamp tax revenues to the
147 State Housing Trust Fund which is in effect in the 2004-2005
148 fiscal year.
149 Section 2. Paragraph (c) is added to subsection (1) of
150 section 403.890, Florida Statutes, to read:
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151 403.890 Water Protection and Sustainability Program.—
152 (1) Revenues deposited into or appropriated to the Water
153 Protection and Sustainability Program Trust Fund shall be
154 distributed by the Department of Environmental Protection for
155 the following purposes:
156 (c) The wastewater grant program as provided in s.
157 403.0673.
158 Section 3. For the purpose of incorporating the amendments
159 made by this act to section 201.15, Florida Statutes, in
160 references thereto, section 201.0205, Florida Statutes, is
161 reenacted to read:
162 201.0205 Counties that have implemented ch. 83-220;
163 inapplicability of 10-cent tax increase by s. 2, ch. 92-317,
164 Laws of Florida.—The 10-cent tax increase in the documentary
165 stamp tax levied by s. 2, chapter 92-317, does not apply to
166 deeds and other taxable instruments relating to real property
167 located in any county that has implemented the provisions of
168 chapter 83-220, Laws of Florida, as amended by chapters 84-270,
169 86-152, and 89-252, Laws of Florida. Each such county and each
170 eligible jurisdiction within such county may not participate in
171 programs funded pursuant to s. 201.15(4)(c). However, each such
172 county and each eligible jurisdiction within such county may
173 participate in programs funded pursuant to s. 201.15(4)(d).
174 Section 4. For the purpose of incorporating the amendments
175 made by this act to section 201.15, Florida Statutes, in a
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176 reference thereto, subsection (9) of section 339.55, Florida
177 Statutes, is reenacted to read:
178 339.55 State-funded infrastructure bank.—
179 (9) Funds paid into the State Transportation Trust Fund
180 pursuant to s. 201.15(4)(a) for the purposes of the State
181 Infrastructure Bank are hereby annually appropriated for
182 expenditure to support that program.
183 Section 5. For the purpose of incorporating the amendment
184 made by this act to section 201.15, Florida Statutes, in
185 references thereto, subsections (5) and (6) of section 420.5092,
186 Florida Statutes, are reenacted to read:
187 420.5092 Florida Affordable Housing Guarantee Program.—
188 (5) Pursuant to s. 16, Art. VII of the State Constitution,
189 the corporation may issue, in accordance with s. 420.509,
190 revenue bonds of the corporation to establish the guarantee
191 fund. The revenue bonds are primarily payable from and secured
192 by annual debt service reserves, from interest earned on funds
193 on deposit in the guarantee fund, from fees, charges, and
194 reimbursements established by the corporation for the issuance
195 of affordable housing guarantees, and from any other revenue
196 sources received by the corporation and deposited by the
197 corporation into the guarantee fund for the issuance of
198 affordable housing guarantees. If such primary revenue sources
199 are considered insufficient by the corporation, pursuant to the
200 certification provided in subsection (6), to fully fund the
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201 annual debt service reserve, the certified deficiency in such
202 reserve is also payable from the first proceeds of the
203 documentary stamp tax moneys deposited into the State Housing
204 Trust Fund pursuant to s. 201.15(4)(c) and (d) during the
205 ensuing state fiscal year.
206 (6)(a) If the primary revenue sources to be used for
207 repayment of revenue bonds used to establish the guarantee fund
208 are insufficient for such repayment, the annual principal and
209 interest due on each series of revenue bonds are payable from
210 funds in the annual debt service reserve. The corporation shall,
211 before June 1 of each year, perform a financial audit to
212 determine whether at the end of the state fiscal year there will
213 be on deposit in the guarantee fund an annual debt ser