In 2021, the “Documentary Stamp Tax Distributions Act,” or SB 2512, was passed. This bill not only banned the practice of sweeping funds, but it also cut the amount of documentary stamp tax percentage that was apportioned to Sadowski by more than half. Under the new law, the Legislature is required to fully fund Sadowski, with the condition that it sets aside a substantial portion of the overall documentary stamp tax revenue to be reserved for two separate climate-related trust funds. Although the bill was passed with the intention of preserving the Sadowski Fund, the plan has since backfired, and the repercussion has been the establishment of a perpetual draining of funds from the affordable housing trust.
2021 – Sadowski is Permanently Raided Under the Guise of Ending Raids
Image Source: The Miami Herald
Newspaper article from December 2021 with the headline: “Budget plan includes $355M for affordable housing”