Recordation tax; eliminates exemption for certain deeds of trust securing a refinanced obligation. (HB1082)

Introduced By

Del. Tim Hugo (R-Centreville)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

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 »

Outcome

Bill Has Failed

History

DateAction
01/11/2012Committee
01/11/2012Prefiled and ordered printed; offered 01/11/12 12102507D
01/11/2012Referred to Committee on Finance
01/20/2012Assigned Finance sub: #1
01/28/2012Impact statement from TAX (HB1082)
02/06/2012Subcommittee recommends reporting (8-Y 2-N)
02/06/2012Reported from Finance (16-Y 6-N) (see vote tally)
02/07/2012Read first time
02/08/2012Passed by for the day
02/09/2012Passed by for the day
02/10/2012Passed by for the day
02/13/2012Read second time
02/13/2012Motion to rerefer to committee agreed to
02/13/2012Rereferred to Finance
02/14/2012Left in Finance

Duplicate Bills

The following bills are identical to this one: SB409.