Legislation

Title: Recordation and Transfer Taxes - Transfer of Property Between Related Entities - Exemption
Sponsored by: Senators King, Brinkley, Currie, Garagiola, Madaleno, Manno, Peters, Ramirez, Raskin, and Robey
Status: Approved by the Governor - Chapter 452
Analysis: Fiscal and Policy Note

Synopsis

Exempting from the recordation tax and the State transfer tax the transfer of real property between a parent business entity and its wholly owned subsidiary or between subsidiaries wholly owned by the same parent business entity under specified circumstances; and applying the Act to instruments of writing recorded on or after July 1, 2013.

Committees

Original:: Budget and Taxation Click to view Recorded Media

Opposite:: Ways and Means Click to view Recorded Media

Details

Cross-filed with: HB0372

Bill File Type: Regular

Effective Date(s): July 1, 2013

History

Legislation History
Chamber Senate Calendar Date 1/17/2013 Legislative Date 1/18/2013 Action First Reading Budget and Taxation Proceedings
Chamber Senate Calendar Date 1/23/2013 Legislative Date 1/23/2013 Action Hearing 2/13 at 1:00 p.m. Proceedings
Chamber Senate Calendar Date 3/06/2013 Legislative Date 3/07/2013 Action Favorable with Amendments Report by Budget and Taxation Proceedings
Chamber Senate Calendar Date 3/07/2013 Legislative Date 3/07/2013 Action Favorable with Amendments {579030/1 Report Adopted Proceedings 40
Chamber Senate Calendar Date 3/07/2013 Legislative Date 3/07/2013 Action Second Reading Passed with Amendments Proceedings 40
Chamber Senate Calendar Date 3/11/2013 Legislative Date 3/11/2013 Action Third Reading Passed (47-0) Proceedings 42
Chamber House Calendar Date 3/12/2013 Legislative Date 3/12/2013 Action First Reading Ways and Means Proceedings 45
Chamber House Calendar Date 3/20/2013 Legislative Date 3/20/2013 Action Hearing 3/28 at 1:00 p.m. Proceedings
Chamber House Calendar Date 4/04/2013 Legislative Date 4/05/2013 Action Favorable with Amendments Report by Ways and Means Proceedings
Chamber House Calendar Date 4/05/2013 Legislative Date 3/31/2013 Action Favorable with Amendments {895969/1 Report Adopted Proceedings 64
Chamber House Calendar Date 4/05/2013 Legislative Date 3/31/2013 Action Second Reading Passed with Amendments Proceedings 64
Chamber House Calendar Date 4/06/2013 Legislative Date 4/01/2013 Action Third Reading Passed with Amendments (132-0) Proceedings 65
Chamber Senate Calendar Date 4/08/2013 Legislative Date 4/03/2013 Action Senate Concur - House Amendments Proceedings 65
Chamber Senate Calendar Date 4/08/2013 Legislative Date 4/03/2013 Action Third Reading Passed (47-0) Proceedings 65
Chamber Senate Calendar Date 4/08/2013 Legislative Date 4/03/2013 Action Passed Enrolled Proceedings 65
Chamber Post Passage Calendar Date 5/16/2013 Legislative Date 5/16/2013 Action Approved by the Governor - Chapter 452 Proceedings

Chamber	Calendar Date	Legislative Date	Action	Proceedings
Senate	1/17/2013	1/18/2013	First Reading Budget and Taxation
Senate	1/23/2013	1/23/2013	Hearing 2/13 at 1:00 p.m.
Senate	3/06/2013	3/07/2013	Favorable with Amendments Report by Budget and Taxation
Senate	3/07/2013	3/07/2013	Favorable with Amendments {579030/1 Report Adopted	40
Senate	3/07/2013	3/07/2013	Second Reading Passed with Amendments	40
Senate	3/11/2013	3/11/2013	Third Reading Passed (47-0)	42
House	3/12/2013	3/12/2013	First Reading Ways and Means	45
House	3/20/2013	3/20/2013	Hearing 3/28 at 1:00 p.m.
House	4/04/2013	4/05/2013	Favorable with Amendments Report by Ways and Means
House	4/05/2013	3/31/2013	Favorable with Amendments {895969/1 Report Adopted	64
House	4/05/2013	3/31/2013	Second Reading Passed with Amendments	64
House	4/06/2013	4/01/2013	Third Reading Passed with Amendments (132-0)	65
Senate	4/08/2013	4/03/2013	Senate Concur - House Amendments	65
Senate	4/08/2013	4/03/2013	Third Reading Passed (47-0)	65
Senate	4/08/2013	4/03/2013	Passed Enrolled	65
Post Passage	5/16/2013	5/16/2013	Approved by the Governor - Chapter 452

Documents

Date Posted	Document Name
3/07/2013	Amendments Senate - (Budget and Taxation) {579030/01 Adopted
4/05/2013	Amendments House - (Ways and Means) {895969/01 Adopted
1/18/2013	Text - First - Recordation and Transfer Taxes - Transfer of Property Between Related Entities - Exemption
3/07/2013	Text - Third - Recordation and Transfer Taxes - Transfer of Property Between Related Entities - Exemption
4/08/2013	Text - Enrolled - Recordation and Transfer Taxes - Transfer of Property Between Related Entities - Exemption
5/23/2013	Text - Chapter - Recordation and Transfer Taxes - Transfer of Property Between Related Entities - Exemption
3/06/2013	Vote - Senate - Committee - Budget and Taxation
4/05/2013	Vote - House - Committee - Ways and Means
3/11/2013	Vote - Senate Floor - Third Reading Passed (47-0) - 03/11/13
4/03/2013	Vote - Senate Floor - Third Reading Passed (47-0) - 04/03/13
4/01/2013	Vote - House Floor - Third Reading Passed (132-0) - 04/01/13

File Code

Subjects

Statutes