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2012 SESSION
HB 509 Recordation tax; clarifies tax for deeds of trust is based on value of security interest.
Introduced by: T. Scott Garrett | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Recordation tax. Clarifies that the recordation tax for deeds of trust is based on the value of the security interest created by the deed of trust, not just on the amount of the obligations described in the deed of trust. Therefore, the amount subject to tax does not include any amount that is unsecured because the value of the property conveyed by the deed of trust is inadequate to secure the full amount of obligations described in the deed of trust.
FULL TEXT
- 01/10/12 House: Prefiled and ordered printed; offered 01/11/12 12102464D pdf | impact statement
- 03/06/12 House: Bill text as passed House and Senate (HB509ER) pdf | impact statement
- 04/04/12 Governor: Acts of Assembly Chapter text (CHAP0505) pdf
AMENDMENTS
HISTORY
- 01/10/12 House: Prefiled and ordered printed; offered 01/11/12 12102464D
- 01/10/12 House: Referred to Committee on Finance
- 01/17/12 House: Assigned Finance sub: #1
- 01/25/12 House: Subcommittee recommends reporting (9-Y 1-N)
- 01/30/12 House: Reported from Finance (17-Y 4-N)
- 01/31/12 House: Read first time
- 02/01/12 House: Read second time and engrossed
- 02/02/12 House: Read third time and passed House (87-Y 13-N)
- 02/02/12 House: VOTE: PASSAGE (87-Y 13-N)
- 02/03/12 Senate: Constitutional reading dispensed
- 02/03/12 Senate: Referred to Committee on Finance
- 02/22/12 Senate: Reported from Finance with amendment (7-Y 4-N 2-A)
- 02/23/12 Senate: Constitutional reading dispensed (40-Y 0-N)
- 02/24/12 Senate: Read third time
- 02/24/12 Senate: Reading of amendment waived
- 02/24/12 Senate: Committee amendment agreed to
- 02/24/12 Senate: Engrossed by Senate as amended
- 02/24/12 Senate: Passed Senate with amendment (24-Y 14-N)
- 02/27/12 House: Placed on Calendar
- 02/28/12 House: Passed by for the day
- 02/29/12 House: Senate amendment agreed to by House (85-Y 12-N)
- 02/29/12 House: VOTE: ADOPTION (85-Y 12-N)
- 03/06/12 House: Enrolled
- 03/06/12 House: Bill text as passed House and Senate (HB509ER)
- 03/06/12 House: Signed by Speaker
- 03/08/12 Senate: Signed by President
- 04/04/12 Governor: Approved by Governor-Chapter 505 (effective 1/1/14 - see bill)
- 04/04/12 Governor: Acts of Assembly Chapter text (CHAP0505)