Recordation tax; eliminates exemption for deeds of trust securing a refinanced obligation. (SB409)

Introduced By

Sen. Emmett Hanger (R-Mount Solon)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


Recordation tax.  Eliminates the recordation tax exemption for certain deeds of trust securing a refinanced obligation, and establishes a reduced tax for all refinancing deeds of trust or mortgages that is equal to a maximum of 18 cents ($0.18) per $100 of the amount refinanced. Under current law, there is an exemption for a deed of trust or mortgage that is refinanced with the same lender on the principal amount of the original debt; all other such instruments of refinancing are subject to the tax at rates higher than the new rates established in the bill. Read the Bill »


Bill Has Passed


01/11/2012Prefiled and ordered printed; offered 01/11/12
01/11/2012Prefiled and ordered printed; offered 01/11/12 12102509D
01/11/2012Referred to Committee on Finance
01/28/2012Impact statement from TAX (SB409)
02/07/2012Reported from Finance (11-Y 4-N) (see vote tally)
02/08/2012Constitutional reading dispensed (39-Y 0-N) (see vote tally)
02/09/2012Read second time and engrossed
02/10/2012Read third time and passed Senate (39-Y 1-N) (see vote tally)
02/17/2012Placed on Calendar
02/17/2012Read first time
02/17/2012Referred to Committee on Finance
02/20/2012Impact statement from TAX (SB409)
02/20/2012Assigned Finance sub: #1
02/27/2012Reported from Finance with amendments (21-Y 0-N) (see vote tally)
02/28/2012Read second time
02/29/2012Engrossed by House as amended SB409
02/29/2012Read third time
02/29/2012Committee amendments agreed to
02/29/2012Engrossed by House as amended
02/29/2012Passed House with amendments (91-Y 5-N)
02/29/2012VOTE: PASSAGE (91-Y 5-N) (see vote tally)
02/29/2012House amendments agreed to by Senate (40-Y 0-N) (see vote tally)
03/05/2012Bill text as passed Senate and House (SB409ER)
03/05/2012Signed by Speaker
03/07/2012Impact statement from TAX (SB409ER)
03/07/2012Signed by President
04/09/2012Governor's recommendation received by Senate
04/17/2012Placed on Calendar
04/18/2012Senate concurred in Governor's recommendation (39-Y 0-N) (see vote tally)
04/18/2012House concurred in Governor's recommendation (91-Y 2-N)
04/18/2012VOTE: ADOPTION (91-Y 2-N) (see vote tally)
04/18/2012G Governor's recommendation adopted
04/18/2012Reenrolled bill text (SB409ER2)
04/18/2012Signed by President as reenrolled
04/18/2012Signed by Speaker as reenrolled
04/18/2012G Approved by Governor-Chapter 820 (effective 7/1/12)
04/18/2012G Acts of Assembly Chapter text (CHAP0820)


This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 3 clips in all, totaling 10 minutes.

Duplicate Bills

The following bills are identical to this one: HB1082.