HF 2163 (LSB 5845YH (2) 88)

HOUSE FILE 2163

BY  LOHSE

(COMPANION TO SF 2036 BY LOFGREN)

A BILL FOR

An Act relating to real estate transfer tax moneys transferred to the housing trust fund.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:

    Section 1.  Section 428A.8, subsection 3, Code 2020, is amended by striking the subsection.
EXPLANATION
The inclusion of this explanation does not constitute agreement with
the explanation’s substance by the members of the general assembly.
   Under current law, 30 percent of the real estate transfer tax receipts paid by county recorders to the treasurer of state are transferred to the housing trust fund in any one fiscal year, subject to a $3 million cap; moneys in excess of the cap are deposited in the general fund of the state. This bill eliminates the cap.