SB0597 (CH0223)

Find a 2016 Bill:

2016 Regular Session



Recordation and Transfer Taxes - Transfer of Controlling Interest - Exemptions

Sponsored by:

Senator Peters


Approved by the Governor - Chapter 223

Synopsis:Altering a specified exemption from recordation and transfer taxes so as to provide that a transfer of a controlling interest in a real property entity is not subject to recordation and transfer taxes if the transfer of the real property owned by the real property entity between the same transferor and transferee of the controlling interest under the same circumstances would have been exempt under specified provisions of law; etc.
Analysis:Fiscal and Policy Note (Revised)
All Sponsors:Senators Peters, DeGrange, Edwards, Guzzone, King, Manno, and Serafini
Additional Facts:Cross-filed with: HB1226
Bill File Type: Regular
Effective Date(s): July 1, 2016
Bill imposes a local government mandate which is a directive in a bill requiring a local government unit to perform a task or assume a responsibility that has a discernible fiscal impact on the local government unit
Budget and Taxation  View Committee HearingWays and Means  View Committee Hearing
Broad Subject(s):Taxes - Recordation and Transfer
Narrow Subject(s):Associations -see also- Cooperative Associations
Business Trusts
Corporations -see also- Municipal Corps; Public Corps & Inst
Limited Liability Companies
Real Property
Transfer Tax
Statutes:Article - Tax - Property
(12-117, 13-103)

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Explanation of Floor Motions and Actions

October 24, 2017 5:09 P.M.