Bills › 90th General Assembly
Removing the maximum annual amount of real estate transfer tax receipts that may be transferred into the housing trust fund
Sponsored by the House Economic Growth and Technology Committee
Topics:Housing & propertyTaxes
Same legislation: HF 2634
Where it is now
- Done: IntroducedJanuary 29, 2024
- Done: SubcommitteeFebruary 8, 2024
- Done: House committeeFebruary 28, 2024
- Done: Passes the HouseMarch 26, 202495–0
- Next: Senate committee
- Next: Passes the Senate
- Next: To the Governor
- Next: Signed into law
Became HF 2634 → Its progress continues under the new number. Go to HF 2634 What’s a funnel?
What’s in it
The housing trust fund (HTF) was established for the development and preservation of affordable housing for low-income people in the state and for the Iowa mortgage help initiative.25 percent of the RETT receipts in the county general fund. Of the RETT receipts transferred to DOR, DOR transfers percent to the state general fund, percent to the HTF, and percent to the shelter assistance fund. Currently, DOR may deposit a maximum of $7 million of RETT receipts into the HTF per year. Any amounts over $7 million are deposited into the state general fund.
Read the full explanation
This bill removes the $7 million annual maximum that may be deposited into the HTF.
From the explanation printed with the bill as introduced, written by the Legislative Services Agency. Amendments adopted later aren’t reflected. Full bill text
House subcommittee
Named February 8, 2024. On February 20, 2024 it recommended passage. Vote Total: 3-0.
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
0% of the Real Estate Transfer Tax receipts would be deposited into the Housing Trust Fund, regardless of the amount.
- Real Estate Transfer Tax, Housing Trust Fund · March 1, 2024
- Real Estate Transfer Tax, Housing Trust Fund · February 1, 2024
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
Lobbying
19 for · 0 against · 8 undecided · Who →
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.
90th General Assembly
Picked up later
Earlier and later bills are matched by wording or an identical title; check the text to be sure it’s the same idea.
Similar bills
- HF 171 Removing the maximum annual amount of real estate transfer tax receipts that may be transf…91st General Assembly · Subcommittee recommends passageNearly identical
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.