Text: HSB720            Text: HSB722


House Study Bill 721

HOUSE FILE BY (PROPOSED COMMITTEE ON WAYS AND MEANS BILL BY CHAIRPERSON VAN FOSSEN) Passed House, Date Passed Senate, Date Vote: Ayes Nays Vote: Ayes Nays Approved A BILL FOR 1 An Act relating to the use of a certain transaction fee collected 2 by the county recorder and providing for a future reduction in 3 the amount of the fee. 4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 5 TLSB 6658HC 80 6 sc/sh/8 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, and ending June 30, 2006, the recorder 1 7 shall collect a fee of five dollars for each recorded 1 8 transaction, regardless of the number of pages, for which a 1 9 fee is paid pursuant to section 331.604, to be allocated as 1 10 provided in subsection 3. 1 11 2. Beginning July 1, 2006, a fee of three dollars shall be 1 12 collected under this section for each recorded transaction, 1 13 regardless of the number of pages, for which a fee is paid 1 14 pursuant to section 331.604. The fee shall be allocated as 1 15 provided in subsection 3, paragraphs "a" and "c" or "a" and 1 16 "d", as applicable. 1 17 3. The fee collected shall be allocated as follows: 1 18 a. One dollar shall be deposited in the local government 1 19 electronic transaction fund for the purposes set forth in 1 20 subsection 5. 1 21 b. For the period beginning July 1, 2004, and ending June 1 22 30, 2006, two dollars shall be deposited in the county 1 23 recorder's electronic transaction fund for the purpose of 1 24 paying the county's ongoing costs of implementing electronic 1 25 recording and electronic transactions in the county and 1 26 developing a county internet website to provide electronic 1 27 access to records and information and maintaining those 1 28 systems. 1 29 c. Two dollars shall be paid to the county treasurer for 1 30 deposit in the local housing trust fund of the county where 1 31 the fee is paid and shall be used to develop and preserve 1 32 affordable housing for low=income persons in the county, 1 33 including providing a local match for state funding pursuant 1 34 to section 16.181. 1 35 d. In lieu of paragraph "c", if a local housing trust fund 2 1 has not been established in the county, two dollars shall be 2 2 paid to the county treasurer for deposit in the general fund 2 3 to be used solely to fund affordable housing efforts in the 2 4 county. 2 5 4. The county treasurer, on behalf of the recorder, shall 2 6 establish and maintain a county recorder's electronic 2 7 transaction fund into which all moneys collected pursuant to 2 8 subsection 3, paragraph "b", shall be deposited. Interest 2 9 earned on moneys deposited in this fund shall be computed 2 10 based on the average monthly balance in the fund and shall be 2 11 credited to the county recorder's electronic transaction fund. 2 12 5. A local government electronic transaction fund is 2 13 established in the office of the treasurer of state under the 2 14 control of the treasurer of state. Moneys deposited into the 2 15 fund are not subject to section 8.33. Notwithstanding section 2 16 12C.7, interest or earnings on moneys in the local government 2 17 electronic transaction fund shall be credited to the fund. 2 18 Moneys in the local government electronic transaction fund are 2 19 not subject to transfer, appropriation, or reversion to any 2 20 other fund, or any other use except as provided in this 2 21 subsection. On a monthly basis, the county treasurer shall 2 22 pay the fees collected pursuant to subsection 3, paragraph 2 23 "a", to the treasurer of state for deposit into the local 2 24 government electronic transaction fund. Moneys credited to 2 25 the local government electronic transaction fund are 2 26 appropriated to the treasurer of state to be used for the 2 27 purpose of paying the ongoing costs of developing and 2 28 maintaining statewide internet websites to provide electronic 2 29 access to records and information recorded or filed with 2 30 county recorders. 2 31 6. For purposes of this section, "local housing trust 2 32 fund" is a fund established by an entity whose governing board 2 33 is recognized by the city, county, council of governments, or 2 34 regional officials as the board responsible for coordinating 2 35 local housing programs. 3 1 EXPLANATION 3 2 Currently, Code section 331.605C provides that beginning on 3 3 July 1, 2004, the additional fee collected by the county 3 4 recorder on instruments filed or recorded with the recorder's 3 5 office shall be reduced from $5 to $1. This bill retains the 3 6 $5 fee until June 30, 2006, and requires that it be allocated 3 7 as follows: 3 8 1. One dollar shall be deposited in the local government 3 9 electronic transaction fund under control of the treasurer of 3 10 state for paying the ongoing costs of developing and 3 11 maintaining statewide internet websites to provide electronic 3 12 access to records and information recorded or filed with 3 13 county recorders. 3 14 2. Two dollars shall be deposited in the county recorder's 3 15 electronic transaction fund for the purpose of paying the 3 16 county's ongoing costs of developing, implementing, and 3 17 maintaining the electronic recording and transaction system in 3 18 the county and the county internet website. 3 19 3. Two dollars shall be deposited in the local housing 3 20 trust fund of the county where the fee is paid and shall be 3 21 used to develop and preserve affordable housing for low=income 3 22 persons in the county and for providing local matching funds 3 23 for receipt of state housing trust funds moneys. The bill 3 24 provides that if a local housing trust fund has not been 3 25 established in the county, the $2 shall be deposited in the 3 26 general fund for purposes of funding affordable housing 3 27 efforts in the county. 3 28 The bill provides that, beginning July 1, 2006, the fee 3 29 will be $3. One dollar of the fee will be deposited in the 3 30 local government electronic transaction fund for the purposes 3 31 set forth in the bill and $2 will be deposited in the local 3 32 housing trust fund, or to the general fund of the county if 3 33 there is no local housing trust fund, for the purposes set 3 34 forth in the bill. 3 35 LSB 6658HC 80 4 1 sc/sh/8
Text: HSB720            Text: HSB722