Tax/Documentary Stamp Tax to Fund Down Payment Assistance

Plain English Breakdown

The candidate explanation incorrectly stated that the bill had passed both chambers and reached final enrollment, which is not supported by the official source material. The bill was actually withdrawn prior to introduction.

Tax/Documentary Stamp Tax to Fund Down Payment Assistance

This bill creates a new documentary stamp tax on people buying residential property if they already own 15 or more properties in Florida, with exemptions for non-profits owning fewer than 50 homes. The collected funds will be used to provide down payment assistance grants to first-time homebuyers.

What This Bill Does

• Adds a $50,000 documentary stamp tax on residential property purchases if the buyer already owns 15 or more properties in Florida.
• Exempts non-profit corporations purchasing residential housing for affordable purposes from this tax unless they own over 50 homes.
• Collects the new tax at the same time as other taxes and sends it to the Department of Revenue.
• Uses the collected money to provide down payment assistance grants to first-time homebuyers.

Who It Names or Affects

• People buying residential property in Florida who already own 15 or more properties there.
• Non-profit corporations purchasing homes for affordable housing, but only if they have over 50 properties.
• First-time homebuyers receiving down payment assistance grants.

Terms To Know

Documentary stamp tax

A type of tax charged when property is bought or sold.

Down payment assistance

Money to help people buy their first home by covering part of the down payment.

Limits and Unknowns

• The bill does not specify how much money will be collected from this new tax.
• It is unclear if all non-profit groups buying homes for affordable housing are exempt or only specific ones.

Official Summary Text

Tax/Documentary Stamp Tax to Fund Down Payment Assistance; Creates additional documentary stamp tax in specified amount on residential property purchased by person who already owns certain number of residential properties; creates First-time Homebuyer Assistance Program within Department of Commerce; provides purpose & eligibility for such program; provides maximum amount of assistance that may be provided; provides that funding comes from specified tax revenue.

Current Bill Text

HB 1257 2026

CODING: Words stricken are deletions; words underlined are additions.
hb1257-00
Page 1 of 2
F L O R I D A H O U S E O F R E P R E S E N T A T I V E S

A bill to be entitled 1
An act relating to documentary stamp tax to fund down 2
payment assistance; creating s. 201.0202, F.S.; 3
creating an additional documentary stamp tax in a 4
specified amount on residential property purchased by 5
a purchaser who already owns a certain number of 6
residential properties; requiring the tax to be 7
collected, transferred, and used in a certain manner; 8
providing an effective date. 9
10
Be It Enacted by the Legislature of the State of Florida: 11
12
Section 1. Section 201.0202, Florida Statutes, is created 13
to read: 14
201.0202 Documentary stamp tax on additional property.— 15
(1)(a) Except as provided in paragraph (b), on any 16
residential property transaction subject to the tax imposed by 17
s. 201.02(1), there shall be an additional tax of $50,000 if the 18
purchaser already owns 15 residential properties in this state. 19
(b) A not-for-profit corporation purchasing residential 20
housing for the purpose of providing affordable housing is not 21
required to pay the tax in this section unless they already own 22
50 residential properties in this state. 23
(2) Notwithstanding any other law, the tax shall be 24
collected at the same time and in the same manner as the tax 25

HB 1257 2026

CODING: Words stricken are deletions; words underlined are additions.
hb1257-00
Page 2 of 2
F L O R I D A H O U S E O F R E P R E S E N T A T I V E S

under s. 201.02 and shall be transferred to the Department of 26
Revenue and used to provide down payment assistance grants to 27
first-time homeowners. 28
Section 2. This act shall take effect July 1, 2026. 29