THE BILL ITSELF
HB 1257
Tax/Documentary Stamp Tax to Fund Down Payment Assistance
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A bill to be entitled
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An act relating to documentary stamp tax to fund down
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payment assistance; creating s. 201.0202, F.S.;
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creating an additional documentary stamp tax in a
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specified amount on residential property purchased by
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a purchaser who already owns a certain number of
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residential properties; requiring the tax to be
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collected, transferred, and used in a certain manner;
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providing an effective date.
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Be It Enacted by the Legislature of the State of Florida:
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Section 1. Section 201.0202, Florida Statutes, is created
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to read:
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201.0202 Documentary stamp tax on additional property.—
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(1)(a) Except as provided in paragraph (b), on any
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residential property transaction subject to the tax imposed by
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s. 201.02(1), there shall be an additional tax of $50,000 if the
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purchaser already owns 15 residential properties in this state.
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(b) A not-for-profit corporation purchasing residential
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housing for the purpose of providing affordable housing is not
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required to pay the tax in this section unless they already own
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50 residential properties in this state.
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(2) Notwithstanding any other law, the tax shall be
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collected at the same time and in the same manner as the tax
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under s. 201.02 and shall be transferred to the Department of
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Revenue and used to provide down payment assistance grants to
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first-time homeowners.
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Section 2. This act shall take effect July 1, 2026.