Bill
Bill > HF111
IA HF111
IA HF111A bill for an act relating to an exception to the real estate transfer tax for deeds that transfer distributions of assets to beneficiaries of a trust. (Formerly HSB 4.) Effective date: 07/01/2023.
summary
Introduced
01/25/2023
01/25/2023
In Committee
02/07/2023
02/07/2023
Crossed Over
02/02/2023
02/02/2023
Passed
05/09/2023
05/09/2023
Dead
Signed/Enacted/Adopted
06/01/2023
06/01/2023
Introduced Session
90th General Assembly
Bill Summary
AN ACT RELATING TO AN EXCEPTION TO THE REAL ESTATE TRANSFER TAX FOR DEEDS THAT TRANSFER DISTRIBUTIONS OF ASSETS TO BENEFICIARIES OF A TRUST.
AI Summary
This bill proposes to create an exception to the real estate transfer tax for deeds that transfer distributions of assets to beneficiaries of a trust without consideration (i.e., without payment). This means that when a trust distributes assets to its beneficiaries, the transfer of those assets would not be subject to the real estate transfer tax, which is typically required when real estate is sold or transferred.
Committee Categories
Budget and Finance
Sponsors (0)
No sponsors listed
Other Sponsors (1)
Judiciary (House)
Last Action
Signed by Governor. H.J. 1038. (on 06/01/2023)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.legis.iowa.gov/legislation/BillBook?ga=90&ba=HF111 |
| BillText | https://www.legis.iowa.gov/docs/publications/LGE/90/attachments/HF111.html |
| BillText | https://www.legis.iowa.gov/docs/publications/LGI/90/attachments/HF111.html |
Loading...