Bill Text: FL S1432 | 2010 | Regular Session | Introduced

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Bill Title: State Housing Trust Fund [WPSC]

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2010-04-30 - Died in Committee on Community Affairs [S1432 Detail]

Download: Florida-2010-S1432-Introduced.html

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Florida Senate - 2010                                    SB 1432 
 
By Senator Wilson 
33-01379-10                                           20101432__ 
1                        A bill to be entitled 
2         An act relating to the State Housing Trust Fund; 
3         amending s. 201.15, F.S.; revising provisions 
4         governing the distribution of a portion of the 
5         proceeds of the excise tax on documents to the State 
6         Housing Trust Fund; providing for the annual 
7         appropriation of a portion of the taxes distributed to 
8         the State Housing Trust Fund for specified uses 
9         conforming to the purposes for which the fund was 
10         created; providing an effective date. 
11 
12  Be It Enacted by the Legislature of the State of Florida: 
13 
14         Section 1. Subsections (9) and (10) of section 201.15, 
15  Florida Statutes, as amended by chapter 2009-271, Laws of 
16  Florida, are amended to read: 
17         201.15 Distribution of taxes collected.—All taxes collected 
18  under this chapter are subject to the service charge imposed in 
19  s. 215.20(1). Prior to distribution under this section, the 
20  Department of Revenue shall deduct amounts necessary to pay the 
21  costs of the collection and enforcement of the tax levied by 
22  this chapter. Such costs and the service charge may not be 
23  levied against any portion of taxes pledged to debt service on 
24  bonds to the extent that the costs and service charge are 
25  required to pay any amounts relating to the bonds. After 
26  distributions are made pursuant to subsection (1), all of the 
27  costs of the collection and enforcement of the tax levied by 
28  this chapter and the service charge shall be available and 
29  transferred to the extent necessary to pay debt service and any 
30  other amounts payable with respect to bonds authorized before 
31  January 1, 2010, secured by revenues distributed pursuant to 
32  subsection (1). All taxes remaining after deduction of costs and 
33  the service charge shall be distributed as follows: 
34         (9) Seven and fifty-three hundredths The lesser of 7.53 
35  percent of the remaining taxes collected under this chapter or 
36  $107 million in each fiscal year shall be paid into the State 
37  Treasury to the credit of the State Housing Trust Fund and shall 
38  be used as follows: 
39         (a) Half of that amount shall be used for the purposes for 
40  which the State Housing Trust Fund was created and exists by 
41  law. 
42         (b) Half of that amount shall be paid into the State 
43  Treasury to the credit of the Local Government Housing Trust 
44  Fund and shall be used for the purposes for which the Local 
45  Government Housing Trust Fund was created and exists by law. 
46         (10) Eight and sixty-six hundredths The lesser of 8.66 
47  percent of the remaining taxes collected under this chapter or 
48  $136 million in each fiscal year shall be paid into the State 
49  Treasury to the credit of the State Housing Trust Fund and shall 
50  be used as follows: 
51         (a) Twelve and one-half percent of that amount shall be 
52  deposited into the State Housing Trust Fund and be expended by 
53  the Department of Community Affairs and by the Florida Housing 
54  Finance Corporation for the purposes for which the State Housing 
55  Trust Fund was created and exists by law. 
56         (b) Eighty-seven and one-half percent of that amount shall 
57  be distributed to the Local Government Housing Trust Fund and 
58  used for the purposes for which the Local Government Housing 
59  Trust Fund was created and exists by law. Funds from this 
60  category may also be used to provide for state and local 
61  services to assist the homeless. 
62         Section 2. The Legislature shall annually appropriate at 
63  least 90 percent of the tax proceeds distributed to the State 
64  Housing Trust Fund for the purpose of providing affordable 
65  housing units and other purposes for which the State Housing 
66  Trust Fund was created. 
67         Section 3. This act shall take effect July 1, 2010.