HOUSE BILL 1082

File Code: Taxes - Miscellaneous Crossfiled with: SENATE BILL 663

Sponsored By:

Delegates Kopp and Brinkley

Entitled:

Recordation and Transfer Taxes - Estate Planning Exemption

Synopsis:

Exempting from the recordation tax and State and county transfer taxes instruments of writing transferring property for estate planning purposes if the only consideration is an interest in the transferee; imposing the recordation tax and State and county transfer taxes on the transfer of an interest in estate planning entities; requiring the filing of a report of transfers of interest in estate planning entities; requiring the payment of a filing fee with certain reports; etc.

Legislative History

House Action

2/7

First Reading Ways and Means

2/21

Hearing 2/28 at 2:00 p.m.

3/14

Unfavorable Report by Ways and Means

Senate Action

No Action

Sponsored by:

Delegate Nancy K. Kopp, District 16

Delegate David R. Brinkley, District 4A

Bill indexed under the following Subjects:

ASSESSMENTS AND TAXATION, DEPARTMENT OF

CIVIL ACTIONS -see also- SMALL CLAIMS

ESTATES AND TRUSTS -see also- FIDUCIARIES

EXEMPTIONS

FEES -see also- DEVELOPMENT FEES AND TAXES

RECORDATION -see also- TRANSFER TAX

REPORTS -see also- RECORDS

REVENUE AND TAXES - GENERAL

TRANSFER TAX -see also- RECORDATION

Bill affects the following Statutes:

Tax - Property

( 11-103 , 12-102.1 , 12-108 , 13-202.1 , 13-207 , 13-410 )

Documents:

Bill Text:

First Reading (PDF), Third Reading, Enrolled

Fiscal Note: Available (PDF)

Amendments: None available