The FDFC was formed by the Florida Development Finance Corporation Act of 1993 and is designated as a state-wide, special development financing authority for economic development purposes. Its purpose is to assist new and existing businesses and organizations (for-profit and not-for-profit) with access to capital through financings that promote business activity, job creation, and an improved standard of living for the citizens of Florida. FDFC has been given authority in Chapter 288, Part X (http://leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0200-0299/0288/0288PartXContentsIndex.html&StatuteYear=2017&Title=-%3E2017-%3EChapter%20288-%3EPart%20X)of the Florida Statutes to act as a state-wide conduit issuer for bond financing. Borrowers do not have direct access to the capital markets for bond financing, therefore, FDFC serves as a borrower for the borrower. This means that the responsibility for the repayment of debt falls solely on the borrower.

No, FDFC does not issue government bonds. FDFC is an issuer of Private Activity Bonds and Taxable Bonds.

Documentary Stamp Tax or also known as "doc stamp" is levied on documents as provided under Chapter 201, Florida Statutes. A documentary stamp tax is due on the original issuance of bonds in Florida. To see the current doc stamp rate, click here.(https://floridarevenue.com/taxes/taxesfees/pages/doc_stamp.aspx) For additional information on Document Stamp Tax, click here.(https://floridarevenue.com/Forms_library/current/gt800014.pdf) FDFC was created under Chapter 288 in the Florida Statutes. Exemption when it does apply is Section 288.9606(2), F.S. which states in part: Bonds issued under this act are declared to be for an essential public and governmental purpose. Bonds issued under this act, together with interest thereon and income therefrom, are exempted from all taxes, except those taxes imposed by chapter 220, on interest, income, or profits on debt obligations owned by corporations. Many of the FDFC financings are issued pursuant to Chapter 159, F.S. In those cases, an exemption can also be found in Section 159.31, F.S. which states in part: The local agency shall not be required to pay any taxes on any project or any other property owned by the local agency under the provisions of this part or upon the income therefrom. The bonds issued under the provisions of this part, their transfer, and the income therefrom (including any profit made on the sale thereof), and all notes, mortgages, security agreements, letters of credit, or other instruments which arise out of or are given to secure the repayment of bonds issued in connection with a project financed under this part, shall at all times be free from taxation by the state or any local unit, political subdivision, or other instrumentality of the state. There are some bond issuances where doc stamps are not exempt from payment.