Florida Senate - 2022 SB 1256 By Senator Gruters 23-00086C-22 20221256__ 1 A bill to be entitled 2 An act relating to taxation; amending s. 197.102, 3 F.S.; defining the terms beneficial owner and legal 4 entity; creating s. 197.4315, F.S.; providing 5 legislative intent; amending s. 197.432, F.S.; 6 removing authorization for a tax collector to require 7 payment of a reasonable deposit from certain persons; 8 providing that any person may register and participate 9 in tax certificate sales; removing an exception; 10 removing provisions related to mailing of certain 11 notices by tax collectors; conforming a provision to 12 changes made by the act; providing an effective date. 13 14 Be It Enacted by the Legislature of the State of Florida: 15 16 Section 1.Present paragraph (b) of subsection (1) of 17 section 197.102, Florida Statutes, is redesignated as paragraph 18 (c), present paragraphs (c) through (i) of that subsection are 19 redesignated as paragraphs (e) through (k), respectively, and 20 new paragraphs (b) and (d) are added to that subsection, to 21 read: 22 197.102Definitions. 23 (1)As used in this chapter, the following definitions 24 apply, unless the context clearly requires otherwise: 25 (b)Beneficial owner means an individual or a legal 26 entity that owns or controls more than one legal entity. 27 (d)Legal entity means any firm, association, joint 28 adventure, partnership, estate, trust, business trust, 29 syndicate, fiduciary, corporation, other group or combination, 30 or any other entity that has been assigned a unique federal 31 identification number. 32 Section 2.Section 197.4315, Florida Statutes, is created 33 to read: 34 197.4315Legislative intent.It is the public policy of 35 this state that the process for securing revenue for local 36 governments through the sale of tax certificates for unpaid ad 37 valorem taxes be designed and implemented to provide the 38 delinquent property owner the best opportunity to redeem 39 delinquent taxes by ensuring that a tax certificate is sold to 40 the person who will demand the lowest rate of interest less than 41 the maximum interest rate authorized by statute. Limitations 42 upon bidders which are structured in a manner that discourages 43 volume or institutional buyers inappropriately focus on the 44 investors economic interests rather than ensuring that interest 45 rates charged to delinquent taxpayers remain as low as possible. 46 Such limitations are against public policy. 47 Section 3.Subsection (7) of section 197.432, Florida 48 Statutes, is amended to read: 49 197.432Sale of tax certificates for unpaid taxes. 50 (7)Any person may register to bid and participate in sales 51 of tax certificates; however, The tax collector may require 52 payment of a reasonable deposit from any person who wishes to 53 bid for a tax certificate. a person who fails or refuses to pay 54 any bid made by, or on behalf of, such person is not entitled to 55 bid or have any other bid accepted or enforced except as 56 authorized by the tax collector. The tax collector shall provide 57 written or electronic notice when certificates are ready for 58 issuance. Payment must be made within 48 hours after the 59 transmission of the electronic notice by the tax collector or 60 mailing of such notice or, at the tax collectors discretion, 61 all or a portion of the deposit placed by the bidder may be 62 forfeited. Payment must be made before the issuance of the 63 certificate by the tax collector. If the tax collector 64 determines that payment has been requested in error, the tax 65 collector shall issue a refund within 15 business days after 66 such payment. 67 Section 4.This act shall take effect July 1, 2022.