Virginia House Bill 1908 (Prior Session Legislation)

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Sponsorship: Slight Partisan Bill (Republican 2-1)
Status: Introduced on January 11 2011 - 25% progression, died in chamber
Action: 2011-02-02 - House: Tabled in Finance by voice vote
Text: Latest bill text (Introduced) [HTML]

Recordation and grantor taxes. Changes the basis on which recordation and grantor taxes are calculated on the conveyance of real estate to the consideration for the property conveyed, effective July 1, 2013. Under current law, the basis is the greater of such consideration or the actual value of the property conveyed. For a three-year period, the bill also expands the reduced recordation tax accorded to deeds of trust securing a refinanced mortgage with the same lender, to all such refinancings, regardless of lender. Finally, the bill increases the penalty for fraudulent understatement of the consideration for the property conveyed, from an amount equal to the tax due on the understatement to twice that amount.

Recordation and grantor taxes; changes basis on which taxes are calculated on property conveyance.

Del. Mark Keam [D]

Del. Jackson Miller [R]

Del. Thomas Rust [R]

2011-01-31 - House - House: Subcommittee recommends reporting (8-Y 0-N) (Y: 8 N: 0 NV: 2 Abs: 0) [PASS]

Date	Chamber	Action
2011-02-02		House: Tabled in Finance by voice vote
2011-01-31		House: Subcommittee recommends reporting (8-Y 0-N)
2011-01-17		House: Assigned Finance sub: #2
2011-01-11		House: Referred to Committee on Finance
2011-01-11		House: Prefiled and ordered printed; offered 01/12/11 11101869D

Chapter	Article	Section	Citation Type	Statute Text
58	1	801	(n/a)	See Bill Text
58	1	802	(n/a)	See Bill Text
58	1	803	(n/a)	See Bill Text
58	1	812	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?111+sum+HB1908
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?111+ful+HB1908+hil
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?111+vot+H1002V0050+HB1908