FL S1250

Removes the $107 million annual cap on documentary stamp tax proceeds deposited into the State Housing Trust Fund, changing the distribution to a fixed 7.53 percent of remaining taxes.

Removes the $136 million annual cap on documentary stamp tax proceeds distributed to the State Housing Trust Fund and Local Government Housing Trust Fund, changing the distribution to a fixed 8.66 percent of remaining taxes.

Eliminates subsection (15) which required distributions to cover debt service and reserve obligations for the Florida Affordable Housing Guarantee Program.

Updates cross-references in subsections (13), (14), and (15) to reflect the removal of the previous subsections (9) and (10) limitations.

Takes effect July 1, 2010.