HF 111 (LSB 1416HV (5) 90)

RELATING TO AN EXCEPTION TO THE REAL ESTATE TRANSFER  TAX FOR DEEDS THAT TRANSFER DISTRIBUTIONS OF ASSETS TO  BENEFICIARIES OF A TRUST. 

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:

    Section 1.  Section 428A.2, Code 2023, is amended by adding the following new subsection:

   NEW SUBSECTION.  22.  Deeds transferring distributions of assets to beneficiaries of a trust when conveyed without consideration.

______________________________
PAT GRASSLEY
Speaker of the House

______________________________
AMY SINCLAIR
President of the Senate

   I hereby certify that this bill originated in the House and is known as House File 111, Ninetieth General Assembly.

______________________________
MEGHAN NELSON
Chief Clerk of the House

Approved _______________, 2023

______________________________
KIM REYNOLDS
Governor