SF 150: Relating to an exception to the real estate transfer tax for deeds that transfer distributions of assets to beneficiaries of a trust

What it does

This bill creates an exception to the real estate transfer tax for deeds that transfer distributions of assets to beneficiaries of a trust when conveyed without consideration. By operation of law, a declaration of value is not required to be submitted to the county recorder for such transfers under Code sections 428A.1(2) and 428A.4(2).

Senate subcommittee · named January 31, 2023

• Sen. Adrian Dickey (R) · adrian.dickey@legis.iowa.gov
• Sen. Carrie Koelker (R) · carrie.koelker@legis.iowa.gov
• Sen. Herman C. Quirmbach (D) · herman.quirmbach@legis.iowa.gov

Lobbying · 4 for, 0 against

For: Home Builders Association of Iowa; Iowa Association of Realtors; Iowa State Bar Association; Iowa Trust Association

In plain words

1. January 10, 2023Filed in the Senate and sent to the Judiciary committee · as SSB 1007
2. January 10, 2023Senate subcommittee named: Rowley, Taylor, J. and Weiner · as SSB 1007
3. January 17, 2023Subcommittee recommended passing it with changes · as SSB 1007
4. January 26, 2023Filed in the Senate
5. January 26, 2023Approved by the Senate committee
6. January 26, 2023Approved by the Senate committee, and given a new number: SF 150 · as SSB 1007
7. January 30, 2023Sent to the Senate Ways and Means committee
8. January 31, 2023Senate subcommittee named: Dickey, Koelker and Quirmbach