2006 Regular Session

HOUSE BILL 454

File Code: Taxes - Recordation and Transfer Prior Year Introduction As: HB 665/05 - W&M
Sponsored By:
Delegates Kaiser, Barkley, Dumais, Goodwin, Gordon, Gutierrez, Healey, Hubbard, James, King, Madaleno, Marriott, Menes, Pendergrass, Ross, and Weir
Entitled:
Recordation Tax - Indemnity Mortgages

Synopsis:

Providing that, for purposes of the recordation tax, secured debt with respect to an indemnity mortgage, deeds of trust, or other security interests in real property securing a guarantee of repayment of a loan for which the guarantor is not primarily liable is deemed to be incurred as debt is incurred on the guaranteed loan and the recordation tax applies as if the guarantor were primarily liable for the guaranteed loan; etc.

History by Legislative Date

House Action
1/27
First Reading Ways and Means
3/1
Hearing 3/21 at 1:00 p.m.
Senate Action
No Action

Sponsored by:

Delegate Anne R. Kaiser, District 14
Delegate Charles Barkley, District 39
Delegate Kathleen M. Dumais, District 15
Delegate Marshall T. Goodwin, District 40
Delegate Michael R. Gordon, District 17
Delegate Ana Sol Gutierrez, District 18
Delegate Anne Healey, District 22
Delegate James W. Hubbard, District 23A
Delegate Mary-Dulany James, District 34A
Delegate Nancy J. King, District 39
Delegate Richard S. Madaleno, Jr., District 18
Delegate Salima Siler Marriott, District 40
Delegate Pauline H. Menes, District 21
Delegate Shane E. Pendergrass, District 13
Delegate Justin D. Ross, District 22
Delegate Michael H. Weir, Jr., District 6

Bill indexed under the following Subjects:

LOANS -see also- MORTGAGES
MORTGAGES
RECORDATION
REVENUE AND TAXES -see also- DEV FEES & TAXES; specific tax.
SECURITY INTERESTS -see also- LIENS; MECHANICS' LIENS

Bill affects the following Statute:

Tax - Property
( 12-105 )

Documents:

Bill Text (Displayed in PDF Format): First Reading, Third Reading, Enrolled
Fiscal Note (Displayed in PDF Format): Available
Amendments: None offered