Legislation - SB0033

Title: Recordation and Transfer Taxes - Exemption for Related Business Entities - Common Law Trusts
Sponsored by: Senator West
Status: In the Senate - Hearing 1/21 at 10:00 a.m.
Analysis: Fiscal and Policy Note

Synopsis

Altering an exemption from the recordation tax and State and county transfer tax for transfers between related business entities to include transfers involving common law trusts; and applying the Act to instruments of writing recorded on or after July 1, 2026.

Committees

Original:: Budget and Taxation

Details

Cross-filed with: HB0082

Bill File Type: Pre-Filed

Effective Date(s): July 1, 2026

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

History

Legislation History
Chamber Senate Calendar Date 10/21/2025 Legislative Date 10/21/2025 Action Pre-filed Proceedings
Chamber Senate Calendar Date 1/14/2026 Legislative Date 1/14/2026 Action First Reading Budget and Taxation Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Recordation and Transfer Taxes - Exemption for Related Business Entities - Common Law Trusts Proceedings
Chamber Senate Calendar Date 1/15/2026 Legislative Date 1/15/2026 Action Hearing 1/21 at 10:00 a.m. Proceedings

Chamber	Calendar Date	Legislative Date	Action
Senate	10/21/2025	10/21/2025	Pre-filed
Senate	1/14/2026	1/14/2026	First Reading Budget and Taxation
			Text - First - Recordation and Transfer Taxes - Exemption for Related Business Entities - Common Law Trusts
Senate	1/15/2026	1/15/2026	Hearing 1/21 at 10:00 a.m.

File Code

Subjects

Statutes