1997 Regular Session

SENATE BILL 774

File Code: Recordation and Transfer Prior Year Introduction As: HB 1082/96 - W&M Crossfiled with: HOUSE BILL 664
Sponsored By:
Senators Ruben, Middleton, and Boozer
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

Senate Action
1/31
First Reading Budget and Taxation
2/5
Hearing 2/12 at 1:30 p.m.
2/12
Hearing cancelled
Hearing 3/5 at 1:30 p.m.
2/21
Hearing cancelled
Hearing 3/5 at 1:00 p.m.
3/10
Withdrawn
House Action
No Action
Sponsored by:
Senator Ida G. Ruben, District 20
Senator F. Vernon Boozer, District 9
Senator Thomas McLain Middleton, District 28
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
INTEREST
PENALTIES
REAL PROPERTY
RECORDATION -see also- TRANSFER TAX
REPORTS -see also- RECORDS
REVENUE AND TAXES -see also specific taxes -
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)