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2016 SESSION
HB 339 Recordation tax; securing of loan by locality for certain borrower.
Introduced by: Brenda L. Pogge | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED:
Recordation tax; exemption. Provides an exemption from the grantor's tax if the grantor is a locality at a judicial sale of tax-delinquent property. The bill also provides an exemption from recordation tax for any deed of trust that secures a loan made by a locality to a borrower whose household income does not exceed 80% of the area median household income established by the U.S. Department of Housing and Urban Development for the purpose of erecting or rehabilitating a home for such borrower, including the purchase of land for such home.
SUMMARY AS INTRODUCED:
Recordation tax; exemption. Provides an exemption from recordation tax for any deed of trust that secures a loan made by a locality to a borrower whose household income does not exceed 80% of the area median household income established by the U.S. Department of Housing and Urban Development for the purpose of erecting or rehabilitating a home for such borrower, including the purchase of land for such home.