Bill > HF2188

Introduced Session

This bill relates to real estate transfer tax, including declarations of value. A real estate transfer tax is imposed on deeds, instruments, or writings when land, tenements, or other real property are granted, assigned, transferred, or otherwise conveyed, except in certain circumstances specified in Code section 428A.2. When a deed, instrument, or writing conveys real property, a declaration of value must be submitted to the county recorder. Under current law, a declaration of value is not required for certain instruments that are not subject to a real estate transfer tax. The bill expands the categories of instruments exempt from the declaration of value requirement to include the following: (1) instruments of transfer made or delivered as a result of a corporate or limited liability company merger, consolidation, or reorganization; (2) deeds between a family corporation, partnership, limited liability partnership, or limited liability company and its stockholders, partners, or members for the purpose of transferring real property in an incorporation or corporate dissolution or the organization or dissolution of a partnership, limited partnership, limited liability partnership, or limited liability company, when the deeds are given for no actual consideration other than shares or debt securities of the entity; and (3) deeds transferring distributions of trust assets to beneficiaries when conveyed without consideration.

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Other Sponsors (1)

House Ways and Means Subcommittee (08:30:00 3/3/2026 RM 102) (on 03/03/2026)

Official Document