Tuesday, April 28, 2009

Call to Action: Help Repeal the Cap on the Trust Funds in the Florida Senate




Repeal of Cap has passed in the House of Representatives!
But we have a big problem- and need your help.

Call to Action: Help Repeal the Cap on the Trust Funds in the Senate


What's Happening Now.

Today (April 27), the House passed the repeal of the cap on the housing trust funds in HB 161 by Representative Gary Aubuchon. The companion bill in the Senate, SB 1042 by Senator Bennett, also carries the repeal of the cap language and it is now in Senate Ways and Means Committee.

We must immediately encourage the Senate to either advance SB 1042 out of its last committee with the cap repeal remaining in the bill in order for the full Senate to take action on that version of the bill and/or take up HB 161 and pass it with the cap repeal. We must get SB 1042 bill moving so that the full Senate can pass cap repeal. There is no time to waste.

Action

Call your Senator today and ask that he or she take action to move SB 1042 with repeal of the cap forward and/or to take up HB 161.

To find your State Senator's contact information click here and enter your zip code then click "go".

There are some rumors circulating that repeal of the cap will have some immediate negative fiscal impact. There is no fiscal impact from cap repeal now, nor over the next four state fiscal years (because of the low level of documentary tax collections, deposits to the housing trust funds are estimated to be significantly lower than the cap level).

Again, the time is now to CALL your Senator on this issue (emails are less effective at this time of the session).

To find your State Senator's contact information click here and enter your zip code then click "go".
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Background.

The Senate has always supported the state and local housing trust funds. In 2005, a reluctant Senate supported placing a cap on the state and local housing trust funds to go into effect in 2007 as part of an agreement with Governor Bush, who was threatening to veto the reauthorization of the trust funds in 2004 (a reauthorization that both the House and Senate passed) unless the Senate President and Speaker of the House agreed to support a bill in 2005 to cap the trust funds. The bill that passed in 2005 put the cap into effect in 2007, the year that Governor Bush would have been term limited from office.

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