Legislation

Title: Recordation and Transfer Taxes - Transfer of Controlling Interest - Exemptions
Sponsored by: Senators Peters, DeGrange, Edwards, Guzzone, King, Manno, and Serafini
Status: Approved by the Governor - Chapter 223
Analysis: Fiscal and Policy Note (Revised)

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.

Committees

Original:: Budget and Taxation Click to view Recorded Media

Opposite:: Ways and Means Click to view Recorded Media

Details

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

History

Legislation History
Chamber Senate Calendar Date 2/04/2016 Legislative Date 2/05/2016 Action First Reading Budget and Taxation Proceedings
Chamber Senate Calendar Date 2/05/2016 Legislative Date 2/05/2016 Action Hearing 3/02 at 1:00 p.m. Proceedings
Chamber Senate Calendar Date 2/15/2016 Legislative Date 2/15/2016 Action Hearing cancelled Proceedings
Chamber Senate Calendar Date 2/15/2016 Legislative Date 2/15/2016 Action Hearing 3/11 at 1:00 p.m. Proceedings
Chamber Senate Calendar Date 3/16/2016 Legislative Date 3/17/2016 Action Favorable with Amendments Report by Budget and Taxation Proceedings
Chamber Senate Calendar Date 3/17/2016 Legislative Date 3/17/2016 Action Favorable with Amendments {179435/1 Report Adopted Proceedings 46
Chamber Senate Calendar Date 3/17/2016 Legislative Date 3/17/2016 Action Second Reading Passed with Amendments Proceedings 46
Chamber Senate Calendar Date 3/18/2016 Legislative Date 3/18/2016 Action Third Reading Passed (46-0) Proceedings 47
Chamber House Calendar Date 3/21/2016 Legislative Date 3/18/2016 Action First Reading Ways and Means Proceedings 50
Chamber House Calendar Date 3/23/2016 Legislative Date 3/23/2016 Action Hearing 3/30 at 1:00 p.m. Proceedings
Chamber House Calendar Date 4/05/2016 Legislative Date 4/06/2016 Action Favorable Report by Ways and Means Proceedings
Chamber House Calendar Date 4/06/2016 Legislative Date 3/30/2016 Action Favorable Report Adopted Proceedings 62
Chamber House Calendar Date 4/06/2016 Legislative Date 3/30/2016 Action Second Reading Passed Proceedings 62
Chamber House Calendar Date 4/07/2016 Legislative Date 4/01/2016 Action Third Reading Passed (137-0) Proceedings 64
Chamber Senate Calendar Date 4/08/2016 Legislative Date 4/02/2016 Action Returned Passed Proceedings 62
Chamber Post Passage Calendar Date 4/26/2016 Legislative Date 4/26/2016 Action Approved by the Governor - Chapter 223 Proceedings

Chamber	Calendar Date	Legislative Date	Action	Proceedings
Senate	2/04/2016	2/05/2016	First Reading Budget and Taxation
Senate	2/05/2016	2/05/2016	Hearing 3/02 at 1:00 p.m.
Senate	2/15/2016	2/15/2016	Hearing cancelled
Senate	2/15/2016	2/15/2016	Hearing 3/11 at 1:00 p.m.
Senate	3/16/2016	3/17/2016	Favorable with Amendments Report by Budget and Taxation
Senate	3/17/2016	3/17/2016	Favorable with Amendments {179435/1 Report Adopted	46
Senate	3/17/2016	3/17/2016	Second Reading Passed with Amendments	46
Senate	3/18/2016	3/18/2016	Third Reading Passed (46-0)	47
House	3/21/2016	3/18/2016	First Reading Ways and Means	50
House	3/23/2016	3/23/2016	Hearing 3/30 at 1:00 p.m.
House	4/05/2016	4/06/2016	Favorable Report by Ways and Means
House	4/06/2016	3/30/2016	Favorable Report Adopted	62
House	4/06/2016	3/30/2016	Second Reading Passed	62
House	4/07/2016	4/01/2016	Third Reading Passed (137-0)	64
Senate	4/08/2016	4/02/2016	Returned Passed	62
Post Passage	4/26/2016	4/26/2016	Approved by the Governor - Chapter 223

Documents

Date Posted	Document Name
3/17/2016	Amendments Senate - (Budget and Taxation) {179435/01 Adopted
2/05/2016	Text - First - Recordation and Transfer Taxes - Transfer of Controlling Interest - Exemptions
3/17/2016	Text - Third - Recordation and Transfer Taxes - Transfer of Controlling Interest - Exemptions
5/18/2016	Text - Chapter - Recordation and Transfer Taxes - Transfer of Controlling Interest - Exemptions
3/16/2016	Vote - Senate - Committee - Budget and Taxation
4/06/2016	Vote - House - Committee - Ways and Means
3/18/2016	Vote - Senate Floor - Third Reading Passed (46-0) - 03/18/16
4/01/2016	Vote - House Floor - Third Reading Passed (137-0) - 04/01/16

File Code

Subjects

Statutes