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FL H5501
Bill
Status
Engrossed
4/10/2025
Primary Sponsor
Transportation & Economic Development Budget Subcommittee
Click for details
AI Summary
- Eliminates the documentary stamp tax distribution of up to 20.5453% of the remainder (capped at $466.75 million per fiscal year) to the State Transportation Trust Fund, which had funded the New Starts Transit Program, Small County Outreach Program, Strategic Intermodal System, and Transportation Regional Incentive Program.
- Removes the distribution of up to 8% of the remainder (capped at $150 million per fiscal year) to the State Housing Trust Fund under s. 420.50871, and repeals that statute entirely; any excess above the cap that previously went to General Revenue is also eliminated.
- Retains existing distributions to the Land Acquisition Trust Fund (33% for bond obligations), Grants and Donations Trust Fund ($3.25 million cap), State Housing Trust Fund (4.5% and 5.20254% shares), General Inspection Trust Fund ($300,000 cap), State Economic Enhancement and Development Trust Fund ($75 million), Resilient Florida Trust Fund (5.4175%), and Water Protection and Sustainability Program Trust Fund (5.4175%), with remaining taxes going to General Revenue.
- Repeals s. 11 of chapter 2023-17, Laws of Florida (expiration date for certain amendments) and s. 45 of chapter 2024-6, Laws of Florida (related conforming language), making the revised distribution framework permanent.
- Effective July 1, 2025, with conforming cross-reference changes to multiple statutes including ss. 201.0205, 339.0801, 339.55, 341.303, 343.58, 420.5092, and 420.9073, F.S.
Legislative Description
Documentary Stamp Tax Distributions
Last Action
Died on Calendar, companion bill(s) passed, see HB 7031 (Ch. 2025-208), SB 2500 (Ch. 2025-198)
6/16/2025
Committee Referrals
Budget Committee3/27/2025
Full Bill Text
No bill text available