HB 868-FN – AS INTRODUCED
2007 SESSION
06/05
HOUSE BILL 868-FN
AN ACT relative to a surcharge on recording documents with the register of deeds to fund the land and community heritage investment program.
SPONSORS: Rep. Spang, Straf 7; Rep. Kurk, Hills 7; Rep. Foose, Merr 1; Rep. Hager, Merr 12; Rep. Shurtleff, Merr 10; Sen. Fuller Clark, Dist 24; Sen. Janeway, Dist 7
COMMITTEE: Municipal and County Government
This bill:
I. Imposes a surcharge on documents filed with the register of deeds.
II. Requires the register of deeds to remit the surcharge, minus payment for services, to the land and community heritage investment program trust fund.
III. Provides an exemption for low income households.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
07-1143
06/05
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Seven
AN ACT relative to a surcharge on recording documents with the register of deeds to fund the land and community heritage investment program.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 New Paragraph; Register of Deeds; Surcharge. Amend RSA 478:17-g by inserting after paragraph I the following new paragraph:
I-a.(a) In addition to paragraph I, for recording each deed, mortgage, or recording of plats, a surcharge shall be assessed of $40 for each recording.
(b) The registers of deeds shall hold separate all revenues collected by the surcharge imposed under subparagraph (a). Each register of deeds, or county if the register of deeds is paid by salary, shall retain 4 percent of the total revenues collected. Such retention shall be payment for the service of collecting the surcharge and shall be deducted prior to the remittance made in subparagraph (c).
(c) Each register of deeds shall remit the revenues collected, minus payment for services, to the state treasurer each month for deposit in the land and community heritage investment program trust fund, established under RSA 227-M:7.
(d) When a deed or first money mortgage, or both, is recorded as part of a conveyance of real property that includes a residential structure that the buyer will use as a primary residence, and the property being conveyed has a sale price at or below the price affordable to households with an income of 80 percent or less of statewide median income as determined by the New Hampshire housing finance authority, the deed or first money mortgage, or both, to be recorded shall be exempt from the surcharge imposed under subparagraph (a).
(e) The New Hampshire housing finance authority shall provide the registers of deeds an updated sale price limit for purposes of administering subparagraph (d) on an annual basis.
2 Effective Date. This act shall take effect July 1, 2007.
LBAO
07-1143
01/30/07
HB 868-FN - FISCAL NOTE
AN ACT relative to a surcharge on recording documents with the register of deeds to fund the land and community heritage investment program.
FISCAL IMPACT:
The Office of Legislative Budget Assistant is unable to complete a fiscal note for this bill as it is awaiting information from the N.H. Association of Counties and the Land and Community Heritage Investment Program. When completed, the fiscal note will be forwarded to the House Clerk's Office.