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