SB 370 would dedicate $100 million annually to the Florida Forever Trust Fund. Florida Forever funds are used to purchase conservation land.
Florida Forever funds comes from the sale of bonds that loan money to the state. The bonds are then paid back by revenues generated through documentary stamp taxes levied on real estate documentation and transactions. The debt service alone on Florida Forever bonds are projected to be $145 million for the 2017-18 budget. 30% of Florida is already held in conservation.
The question is how much more conservation land do we need, and can the state (Taxpayers) afford the costs?
Co-sponsors: Senator Linda Stewart (D) D-13, Senator Keith Perry (R) D-8, Senator Aaron Bean (R) D-4