IN HB1034 | 2024 | Regular Session
Status
Completed Legislative Action
Spectrum: Slight Partisan Bill (Republican 3-1)
Status: Passed on March 4 2024 - 100% progression
Action: 2024-03-04 - Public Law 2
Text: Latest bill text (Enrolled) [PDF]
Spectrum: Slight Partisan Bill (Republican 3-1)
Status: Passed on March 4 2024 - 100% progression
Action: 2024-03-04 - Public Law 2
Text: Latest bill text (Enrolled) [PDF]
Summary
Insurance and transfer on death deeds. Extends insurance coverage on property transferred by a transfer on death transfer following the death of the insured after December 31, 2024, for property and casualty insurance and liability insurance other than title insurance and certain insurance relating to bonds and mortgages. Allows certain warning language to be included in a transfer on death deed executed after December 31, 2024. Provides that a failure by a beneficiary to file an affidavit in the office of the recorder of the county in which the real property is located or a delay by the county recorder in recording the affidavit does not affect the validity of the transfer on death transfer to the beneficiary. Provides that until the affidavit is recorded, the transfer on death beneficiary or beneficiaries named in the transfer on death deed and the estate of the deceased owner are jointly and severally liable for property taxes assessed with respect to the real property for assessment years beginning with the assessment year in which the owner's death occurs. Provides that if a transferee obtains a property and casualty insurance policy or liability insurance policy insuring the real or personal property the transferee acquired or received through a transfer, the transferee is not an insured on the insurance policy of the transferor once the transferee's property and casualty insurance policy or liability insurance policy becomes effective.
Title
Insurance and transfer on death deeds.
Sponsors
Roll Calls
2024-02-22 - House - House - House concurred in Senate amendments (Y: 85 N: 0 NV: 5 Abs: 10) [PASS]
2024-02-20 - Senate - Senate - Third reading (Y: 49 N: 0 NV: 0 Abs: 1) [PASS]
2024-01-30 - House - House - Third reading (Y: 91 N: 0 NV: 5 Abs: 4) [PASS]
2024-02-20 - Senate - Senate - Third reading (Y: 49 N: 0 NV: 0 Abs: 1) [PASS]
2024-01-30 - House - House - Third reading (Y: 91 N: 0 NV: 5 Abs: 4) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2024-03-04 | House | Public Law 2 |
| 2024-03-04 | House | Signed by the Governor |
| 2024-02-28 | Senate | Signed by the President of the Senate |
| 2024-02-27 | Senate | Signed by the President Pro Tempore |
| 2024-02-27 | House | Signed by the Speaker |
| 2024-02-22 | House | House concurred in Senate amendments; Roll Call 186: yeas 85, nays 0 |
| 2024-02-22 | House | Motion to concur filed |
| 2024-02-21 | Senate | Returned to the House with amendments |
| 2024-02-20 | Senate | Third reading: passed; Roll Call 160: yeas 49, nays 0 |
| 2024-02-19 | Senate | Senator Freeman added as second sponsor |
| 2024-02-19 | Senate | Second reading: amended, ordered engrossed |
| 2024-02-19 | Senate | Amendment #1 (Koch) prevailed; voice vote |
| 2024-02-15 | Senate | Senator Randolph added as cosponsor |
| 2024-02-15 | Senate | Committee report: amend do pass, adopted |
| 2024-02-05 | Senate | First reading: referred to Committee on Insurance and Financial Institutions |
| 2024-01-31 | House | Referred to the Senate |
| 2024-01-30 | House | Senate sponsor: Senator Koch |
| 2024-01-30 | House | Third reading: passed; Roll Call 74: yeas 91, nays 0 |
| 2024-01-29 | House | Second reading: ordered engrossed |
| 2024-01-25 | House | Committee report: amend do pass, adopted |
| 2024-01-08 | House | First reading: referred to Committee on Insurance |
| 2024-01-08 | House | Authored by Representative Torr |
