Senate
File
10
-
Introduced
SENATE
FILE
10
BY
LOFGREN
A
BILL
FOR
An
Act
relating
to
real
estate
transfer
tax
moneys
transferred
1
to
the
housing
trust
fund.
2
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
3
TLSB
1289XS
(2)
89
ko/jh
S.F.
10
Section
1.
Section
428A.8,
subsection
3,
Code
2021,
is
1
amended
by
striking
the
subsection.
2
EXPLANATION
3
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
4
the
explanation’s
substance
by
the
members
of
the
general
assembly.
5
Under
current
law,
30
percent
of
the
real
estate
transfer
6
tax
receipts
paid
by
county
recorders
to
the
treasurer
of
state
7
are
transferred
to
the
housing
trust
fund
in
any
one
fiscal
8
year,
subject
to
a
$3
million
cap;
moneys
in
excess
of
the
cap
9
are
deposited
in
the
general
fund
of
the
state.
This
bill
10
eliminates
the
cap.
11
-1-
LSB
1289XS
(2)
89
ko/jh
1/
1