HF 2286 (LSB 5940HV (1) 87)

HOUSE FILE 2286

BY  COMMITTEE ON COMMERCE

(SUCCESSOR TO HSB 596)

A BILL FOR

An Act prohibiting cities and counties from imposing time-of-sale requirements on transactions involving real property.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:

    Section 1.  Section 331.301, subsection 6, Code 2018, is amended by adding the following new paragraph:
   NEW PARAGRAPH.  d.  A county shall not adopt an ordinance, motion, resolution, or amendment, or use any other means, that restricts an owner of real property from refinancing existing debt on, selling, or otherwise transferring title to the property by requiring the owner to take or show compliance with any action with respect to the property or pay any fee before, during, or after refinancing existing debt on, selling, or otherwise transferring title to the property.
    Sec. 2.  Section 364.3, subsection 3, Code 2018, is amended by adding the following new paragraph:
   NEW PARAGRAPH.  d.  A city shall not adopt an ordinance, motion, resolution, or amendment, or use any other means, that restricts an owner of real property from refinancing existing debt on, selling, or otherwise transferring title to the property by requiring the owner to take or show compliance with any action with respect to the property or pay any fee before, during, or after refinancing existing debt on, selling, or transferring title to the property.
EXPLANATION
The inclusion of this explanation does not constitute agreement with
the explanation’s substance by the members of the general assembly.
   This bill prohibits cities and counties from restricting a person’s ability to refinance, sell, or transfer title to property. Under the bill, a city or county cannot, by ordinance, motion, resolution, amendment, or other means, restrict the ability of an owner to refinance, sell, or otherwise transfer title to property by requiring an owner to take or show compliance with any action with respect to a property or pay any fee before, at the time of, or within a certain period of time after refinancing, selling, or transferring title to the property.