Bill number does not exist. Enter a vaild keyword.

Legislation


2005 Regular Session

HOUSE BILL 665

File Code: Taxes - Recordation and Transfer Prior Year Introduction As: HB 1490/04 - W&M
Sponsored By:
Delegates Kaiser, Barkley, Gordon, King, Madaleno, and Weir
Entitled:
Recordation Tax - Indemnity Mortgages

Synopsis:

Providing that, for purposes of the recordation tax, secured debt with respect to an indemnity mortgage, deeds of trust, or other security interests in real property securing a guarantee of repayment of a loan for which the guarantor is not primarily liable is deemed to be incurred as debt is incurred on the guaranteed loan and the recordation tax applies as if the guarantor were primarily liable for the guaranteed loan; etc.

History by Legislative Date

House Action
2/7
First Reading Ways and Means
2/9
Hearing 2/18 at 1:30 p.m.
Senate Action
No Action

Sponsored by:

Delegate Anne R. Kaiser, District 14
Delegate Charles Barkley, District 39
Delegate Michael R. Gordon, District 17
Delegate Nancy J. King, District 39
Delegate Richard S. Madaleno, Jr., District 18
Delegate Michael H. Weir, Jr., District 6

Bill indexed under the following Subjects:

LOANS -see also- MORTGAGES
MORTGAGES
RECORDATION
REVENUE AND TAXES -see also- DEV FEES & TAXES; specific tax.
SECURITY INTERESTS -see also- LIENS; MECHANICS' LIENS

Bill affects the following Statute:

Tax - Property
( 12-105 )

Documents:

Bill Text (Displayed in PDF Format): First Reading, Third Reading, Enrolled
Fiscal Note (Displayed in PDF Format): Available
Amendments: None offered
Click to return on the top page