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

Where it is now

1. ✓
   Done: IntroducedApril 20, 2021
2. ✓
   Done: SubcommitteeApril 21, 2021
3. ✓
   Done: Senate committeeApril 27, 2021
4. ✕
   Stopped: Passes the SenateDied when the General Assembly ended
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 increases the cap to $5.5 million.

From the explanation printed with the bill as introduced, written by the Legislative Services Agency. Amendments adopted later aren’t reflected. Full bill text

Senate subcommittee

Named April 21, 2021 (as SSB 1270). On April 26, 2021 it recommended passage.

• Sen. Mark S. Lofgren REmail
• Sen. Carrie Koelker REmail
• Sen. Jackie Smith D

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

Less revenue: up to $5.5M Compare with other bills

Increasing the Housing Trust Fund’s annual $3.0 million real estate tax revenue limit to $5.5 million is estimated to increase Housing Trust Fund revenue and reduce net General Fund revenue by $2.5 million annually beginning in FY 2022.Fund FY 2017 FY 2018 FY 2019 FY 2020 Housing Trust Fund 3.0$ 3.0$ 3.0$ 3.0$ Shelter Assistance Fund 1.1 1.2 1.2 1.2 State General Fund 18.6 19.2 19.1 20.3 Total 22.7$ 23.4$ 23.3$ 24.5$ Real Estate Transfer Tax Revenue, State Portion In Millions Fiscal Note Fiscal Services Division 2

• Real Estate Transfer Tax · April 28, 2021

Nonpartisan cost estimates from the Legislative Services Agency’s Fiscal Services Division. The newest is first. Reading a fiscal note

Iowa Code it changes

Amends§428A.8

Read from the bill as introduced. Each links to every bill touching that chapter of the Iowa Code. How the Code works

Family tree

Where this legislation came from and where it went: earlier tries, the versions it moved through this Assembly, and later bills built on it.

Earlier and later bills are matched by wording or an identical title; check the text to be sure it’s the same idea.

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

Matched by the wording of each bill’s explanation, or an identical title. Companion bills and renumbered versions of this bill aren’t listed; they’re the same bill.