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2012 SESSION
SB 409 Recordation tax; eliminates exemption for deeds of trust securing a refinanced obligation.
Introduced by: Emmett W. Hanger, Jr. | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
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.
FULL TEXT
- 01/11/12 Senate: Prefiled and ordered printed; offered 01/11/12 12102509D pdf | impact statement
- 03/05/12 Senate: Bill text as passed Senate and House (SB409ER) pdf | impact statement
- 04/18/12 Senate: Reenrolled bill text (SB409ER2) pdf
- 04/18/12 Governor: Acts of Assembly Chapter text (CHAP0820) pdf
AMENDMENTS
HISTORY
- 01/11/12 Senate: Prefiled and ordered printed; offered 01/11/12 12102509D
- 01/11/12 Senate: Referred to Committee on Finance
- 02/07/12 Senate: Reported from Finance (11-Y 4-N)
- 02/08/12 Senate: Constitutional reading dispensed (39-Y 0-N)
- 02/09/12 Senate: Read second time and engrossed
- 02/10/12 Senate: Read third time and passed Senate (39-Y 1-N)
- 02/17/12 House: Placed on Calendar
- 02/17/12 House: Read first time
- 02/17/12 House: Referred to Committee on Finance
- 02/20/12 House: Assigned Finance sub: #1
- 02/27/12 House: Reported from Finance with amendments (21-Y 0-N)
- 02/28/12 House: Read second time
- 02/29/12 House: Read third time
- 02/29/12 House: Committee amendments agreed to
- 02/29/12 House: Engrossed by House as amended
- 02/29/12 House: Passed House with amendments (91-Y 5-N)
- 02/29/12 House: VOTE: PASSAGE (91-Y 5-N)
- 02/29/12 Senate: House amendments agreed to by Senate (40-Y 0-N)
- 03/05/12 Senate: Enrolled
- 03/05/12 Senate: Bill text as passed Senate and House (SB409ER)
- 03/05/12 House: Signed by Speaker
- 03/07/12 Senate: Signed by President
- 04/09/12 Senate: Governor's recommendation received by Senate
- 04/17/12 Senate: Placed on Calendar
- 04/18/12 Senate: Senate concurred in Governor's recommendation (39-Y 0-N)
- 04/18/12 House: House concurred in Governor's recommendation (91-Y 2-N)
- 04/18/12 House: VOTE: ADOPTION (91-Y 2-N)
- 04/18/12 Governor: Governor's recommendation adopted
- 04/18/12 Senate: Reenrolled
- 04/18/12 Senate: Reenrolled bill text (SB409ER2)
- 04/18/12 Senate: Signed by President as reenrolled
- 04/18/12 House: Signed by Speaker as reenrolled
- 04/18/12 House: Enacted, Chapter 820 (effective 7/1/12)
- 04/18/12 Governor: Acts of Assembly Chapter text (CHAP0820)