Bill > S0752

This bill amends Florida law to provide tax relief for first-time homebuyers by exempting them from documentary stamp taxes when purchasing a principal residence. Specifically, the bill defines a "first-time homebuyer" as an individual who has not owned a principal residence in the past three years and is considered a "moderate-income person" as defined in another section of Florida statutes. Under the new provisions, documentary stamp taxes will not apply to deeds, property transfers, or conveyances of residential property to first-time homebuyers, nor will they apply to documents related to the purchase of a principal residence. These tax exemptions are designed to make homeownership more accessible by reducing the upfront costs associated with purchasing a first home. The bill is set to take effect on July 1, 2026, giving potential homebuyers and the state's tax administration time to prepare for the new regulations.

https://www.flsenate.gov/Session/Bill/2026/752