2007 Regular Session


File Code: Taxes - Recordation and Transfer Prior Year Introduction As: HB 454/06 - W&M
Sponsored By:
Delegates Kaiser, Hubbard, Riley, and Ross
Recordation Tax - Indemnity Mortgages


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 and Calendar Date

House Action
First Reading Ways and Means
Hearing 3/1 at 1:00 p.m.
Senate Action
No Action

Sponsored by:

Delegate Anne R. Kaiser, District 14
Delegate James W. Hubbard, District 23A
Delegate B. Daniel Riley, District 34A
Delegate Justin D. Ross, District 22

Bill indexed under the following Subjects:

Loans -see also- Mortgages
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 )


Bill Text (Displayed in PDF Format): First Reading, Third Reading, Enrolled
Fiscal and Policy Note (Displayed in PDF Format): Available
Amendments: None offered