Bill > H5501

This bill revises how taxes collected under Chapter 201 of Florida Statutes, known as documentary stamp taxes, are distributed. Specifically, it mandates that certain funds designated for the Water Management Lands Trust Fund, which are used for water management purposes, will now have an amount transferred annually to the General Revenue Fund, which is the state's main operating fund. This transfer is to cover debt service payments, which are the amounts owed on bonds (loans taken out by the government), and other related financial obligations for specific bonds authorized before January 1, 2015. The bill also clarifies that before other distributions are made, costs associated with collecting and enforcing these taxes are deducted, and these costs, along with a service charge, are prioritized to pay debt service on bonds authorized before January 1, 2015, if necessary.