Text: SF02095 Text: SF02097 Text: SF02000 - SF02099 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 331.605C, Code Supplement 2003, is
1 2 amended by striking the section and inserting in lieu thereof
1 3 the following:
1 4 331.605C ELECTRONIC TRANSACTION FEE – ALLOCATION.
1 5 1. In addition to the fee collected under section 331.604,
1 6 beginning July 1, 2004, the recorder shall collect a fee of
1 7 five dollars for each recorded transaction, regardless of the
1 8 number of pages, for which a fee is paid pursuant to section
1 9 331.604, to be allocated as provided in subsection 2.
1 10 2. The fee collected shall be allocated as follows:
1 11 a. One dollar shall be deposited in the local government
1 12 electronic transaction fund for the purposes set forth in
1 13 subsection 4.
1 14 b. Two dollars shall be deposited in the county recorder's
1 15 electronic transaction fund for the purpose of paying the
1 16 county's ongoing costs of implementing electronic recording
1 17 and electronic transactions in the county and developing a
1 18 county internet website to provide electronic access to
1 19 records and information and maintaining those systems.
1 20 c. Two dollars shall be paid to the county treasurer for
1 21 deposit in the local housing trust fund of the county where
1 22 the fee is paid and shall be used to develop and preserve
1 23 affordable housing for low-income persons in the county,
1 24 including providing a local match for state funding pursuant
1 25 to section 16.181.
1 26 d. In lieu of paragraph "c", if a local housing trust fund
1 27 has not been established in the county, two dollars shall be
1 28 paid to the county treasurer for deposit in the general fund
1 29 to be used solely to fund affordable housing efforts in the
1 30 county.
1 31 3. The county treasurer, on behalf of the recorder, shall
1 32 establish and maintain a county recorder's electronic
1 33 transaction fund into which all moneys collected pursuant to
1 34 subsection 2, paragraph "b", shall be deposited. Interest
1 35 earned on moneys deposited in this fund shall be computed
2 1 based on the average monthly balance in the fund and shall be
2 2 credited to the county recorder's electronic transaction fund.
2 3 4. A local government electronic transaction fund is
2 4 established in the office of the treasurer of state under the
2 5 control of the treasurer of state. Moneys deposited into the
2 6 fund are not subject to section 8.33. Notwithstanding section
2 7 12C.7, interest or earnings on moneys in the local government
2 8 electronic transaction fund shall be credited to the fund.
2 9 Moneys in the local government electronic transaction fund are
2 10 not subject to transfer, appropriation, or reversion to any
2 11 other fund, or any other use except as provided in this
2 12 subsection. On a monthly basis, the county treasurer shall
2 13 pay the fees collected pursuant to subsection 2, paragraph
2 14 "a", to the treasurer of state for deposit into the local
2 15 government electronic transaction fund. Moneys credited to
2 16 the local government electronic transaction fund are
2 17 appropriated to the treasurer of state to be used for the
2 18 purpose of paying the ongoing costs of developing and
2 19 maintaining statewide internet websites to provide electronic
2 20 access to records and information recorded or filed with
2 21 county recorders.
2 22 5. For purposes of this section, "local housing trust
2 23 fund" is a fund established by an entity whose governing board
2 24 is recognized by the city, county, council of governments, or
2 25 regional officials as the board responsible for coordinating
2 26 local housing programs.
2 27 EXPLANATION
2 28 Currently, Code section 331.605C provides that beginning on
2 29 July 1, 2004, the additional fee collected by the county
2 30 recorder on instruments filed or recorded with the recorder's
2 31 office shall be reduced from $5 to $1. This bill retains the
2 32 $5 fee and requires that it be allocated as follows:
2 33 1. $1 shall be deposited in the local government
2 34 electronic transaction fund under control of the treasurer of
2 35 state for paying the ongoing costs of developing and
3 1 maintaining statewide internet websites to provide electronic
3 2 access to records and information recorded or filed with
3 3 county recorders.
3 4 2. $2 shall be deposited in the county recorder's
3 5 electronic transaction fund for the purpose of paying the
3 6 county's ongoing costs of developing, implementing, and
3 7 maintaining the electronic recording and transaction system in
3 8 the county and the county internet website.
3 9 3. $2 shall be deposited in the local housing trust fund
3 10 of the county where the fee is paid and shall be used to
3 11 develop and preserve affordable housing for low-income persons
3 12 in the county and for providing local matching funds for
3 13 receipt of state housing trust funds moneys. The bill
3 14 provides that if a local housing trust fund has not been
3 15 established in the county, the $2 shall be deposited in the
3 16 general fund for purposes of funding affordable housing
3 17 efforts in the county.
3 18 LSB 5785XS 80
3 19 sc/sh/8
Text: SF02095 Text: SF02097 Text: SF02000 - SF02099 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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