CS/HB 917 Summary

• Amends section 201.08, Florida Statutes to exempt document modifications that change only the interest rate from documentary stamp tax assessment under specified conditions.

• A modification to an original document that changes only the interest rate resulting from discontinuation of a referenced index is not considered a renewal and is not subject to tax.

• Clarifies that modifications not changing indebtedness terms—such as correcting errors, modifying unrelated covenants, severing liens, adding security, consolidating debt, or changing guarantors or payees—are not subject to documentary stamp tax.

• Provides that when mortgage taxable amounts are limited by mortgage language or multi-state collateral rules, modifications affecting such limitations are taxable only to the extent of any increase in the limitation or tax base.

• Effective date: July 1, 2021.