Relating to real estate transfer tax moneys transferred to the housing trust fund

Where it is now

1. ✓
   Done: IntroducedJanuary 11, 2021
2. ✓
   Done: SubcommitteeJanuary 14, 2021
3. ✕
   Stopped: Senate committeeDied when the General Assembly ended
4. Next: Passes the Senate
5. Next: House committee
6. Next: Passes the House
7. Next: To the Governor
8. Next: Signed into law

Died when the session ended The 2022 session adjourned on May 24, 2022, the General Assembly’s last regular session. Bills that didn’t pass both chambers died. What’s a funnel?

What’s in it

Under current law, percent of the real estate transfer tax receipts paid by county recorders to the treasurer of state are transferred to the housing trust fund in any one fiscal year, subject to a $3 million cap; moneys in excess of the cap are deposited in the general fund of the state. This bill eliminates the cap.

Full bill text¹

Senate subcommittee

Named January 14, 2021. It hasn’t reported yet.

• Sen. Jason Schultz REmail
• Sen. Pam Jochum D
• Sen. Craig Johnson REmail

Three legislators hear a bill first and recommend what the committee should do; it’s the best time to weigh in. How to take part

Fiscal note

4 million The annual amounts are projected to increase modestly over time. Additional Potential Fiscal Impact Existing Iowa law provides for a significant change to Iowa’s individual income tax system once two General Fund revenue triggers are met. The first year that the triggers may be met is at the conclusion of FY 2022. 0 million per tax year.

• Housing Trust Fund, Real Estate Transfer Tax · January 25, 2021

Reading a fiscal note²

Family tree

Earlier and later bills are matched by wording or an identical title.

Tried before

This idea has been filed in an earlier General Assembly. None got through a chamber.

• HF 2163 Relating to real estate transfer tax moneys transferred to the housing trust fund
  88th General Assembly · In committee · same title
  Cleared committee
• SF 2036 Relating to real estate transfer tax moneys transferred to the housing trust fund
  88th General Assembly · Subcommittee recommends passage · same title
  Cleared committee

Similar bills this General Assembly

• SF 612 Relating to real estate transfer tax moneys transferred to the housing trust fund
  89th General Assembly · Approved by committee
  Nearly identical

Matched by wording or an identical title.