HB1251 (2018) Detail

Relative to indicia for payment of taxes on the transfer of real property.


CHAPTER 171

HB 1251 - FINAL VERSION

 

10May2018... 1948-EBA

2018 SESSION

18-2265

10/03

 

HOUSE BILL 1251

 

AN ACT relative to indicia for payment of taxes on the transfer of real property.

 

SPONSORS: Rep. Abrami, Rock. 19; Rep. Major, Rock. 14

 

COMMITTEE: Ways and Means

 

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ANALYSIS

 

This bill removes references to stamps to indicate payment of the tax on transfers of real property and certain fees for recording deeds.

 

This bill was requested by the department of revenue administration.

 

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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

10May2018... 1948-EBA 18-2265

10/03

 

STATE OF NEW HAMPSHIRE

 

In the Year of Our Lord Two Thousand Eighteen

 

AN ACT relative to indicia for payment of taxes on the transfer of real property.

 

Be it Enacted by the Senate and House of Representatives in General Court convened:

 

171:1  Tax on Transfer of Real Property; Reference to Stamps Deleted.  Amend RSA 78-B:3 to read as follows:

78-B:3  Evidence of Payment.  The payment of the tax imposed by this chapter shall be evidenced by [stamps or other] indicia of tax paid as approved by the commissioner of revenue administration attached to the instrument in writing by which any real estate or any interest in real estate is sold, granted, assigned, transferred or otherwise conveyed to or vested in the purchaser, or grantee, or in any other person by the purchaser's or grantee's direction.

171:2  Tax on Transfer of Real Property; Payment of Tax; Reference to Stamps Deleted.  Amend RSA 78-B:4, I and II to read as follows:

I.  The purchaser, grantee, assignee or transferee of any real estate or any interest in real estate shall buy and attach [stamps or other] the indicia of tax paid approved by the commissioner of revenue administration to the instrument by which the real estate or interest in real estate is sold, granted, assigned or transferred.  The [stamps or other] indicia of tax paid shall indicate the full consideration paid for the real estate or interest in real estate.  The amount [paid for each stamp] of tax shall be computed to the nearest whole dollar.

II.  The seller, grantor, assignor or transferor of any real estate or any interest shall buy and attach [stamps or other] the indicia of tax paid approved by the commissioner of revenue administration to the instrument by which the real estate or interest in real estate is sold, granted, assigned or transferred.  The [stamps or other] indicia of tax paid shall indicate the full consideration paid for the real estate or interest in real estate.  The amount [paid for each stamp] of tax shall be computed to the nearest whole dollar.

171:3  Tax on Transfer of Real Property; Reference to Stamps Deleted.  Amend RSA 78-B:5 through 78-B:7 to read as follows:

78-B:5  [Stamps and] Indicia of Tax Paid.  The commissioner of revenue administration shall determine and prescribe the size, shape and design of the [stamps and their denominations,] indicia of tax paid and shall approve the use of any machine or mechanical device used to produce indicia of payment of the tax imposed by this chapter. [Stamps] Evidence of payment of the tax imposed by this chapter shall be [for sale at] affixed by the registry of deeds in each county, and at such other places as the commissioner shall determine.

78-B:6  Recording.  The [stamps or other] indicia of payment of the tax imposed by this chapter shall be attached to the deed, assignment or other instrument in writing before recording the same unless the instrument bears a statement that the transaction is not subject to the tax imposed by this chapter.

78-B:7  False Statements.  If any purchaser, grantee, assignee, transferee, seller, grantor, assignor or transferor who is a party to a transfer of real estate or an interest in real estate falsely states in writing upon any instrument to be recorded or upon the declaration of consideration required by RSA 78-B:10 that no [stamps are required] tax is due, or attaches to the instrument [an amount of stamps] indicia of tax paid that indicate a purchase price or consideration less than the actual price or consideration, he or she shall be subject to a civil penalty of 100 percent of the amount of additional taxes determined to be due, in lieu of the provisions of RSA 21-J:33.

171:4  Tax on Transfer of Real Property; Administration; Reference to Stamps Deleted.  Amend RSA 78-B:8, I and II to read as follows:

I.  This chapter shall be administered by the commissioner of revenue administration.  The commissioner may adopt rules, pursuant to RSA 541-A, relative to the administration of this chapter.  Rules adopted under this chapter may include written examples of taxable and nontaxable real estate transactions.  The commissioner shall recommend the amount of bond for each register of deeds.  The cost of such bond shall be paid by the state as an expense of administering this chapter.  Each register of deeds, or county if the register of deeds is on a salary basis, shall be paid for his or her services 4 percent of the face value of the [stamps or other] approved indicia of payment of the tax sold in his or her registry.  Such payment for services shall be made prior to remitting all taxes collected, and shall be deducted from the remittance made in paragraph II.  A sum sufficient to pay each register of deeds for his or her services pursuant to this section is hereby continually appropriated.  The governor is authorized to draw a warrant for the payment thereof out of any funds in the treasury not otherwise appropriated.

II.  Following payment for [his] services in paragraph I, each register of deeds shall remit the taxes so collected, minus payment for his or her services, to the department monthly or more often.  All funds received from the sale of [stamps and other] approved indicia shall be credited to the department for administering this chapter and shall not lapse, but whenever the amount available exceeds $12,000, the excess shall be paid over to the state treasurer.

171:5  Tax on Transfer of Real Property; Assessment or Refund of Tax; Reference to Stamps Deleted.  Amend RSA 78-B:9-a, II(b) to read as follows:

(b)  Upon receipt of the notice of additional tax collected, the register of deeds shall:

(1)  Attach to the notice [new tax stamps] indicia reflecting the amount of the additional tax collected; and

(2)  Record the notice with the [new stamps affixed] indicia of tax paid with no additional charge to the state.

171:6  Tax on Transfer of Real Property; Assessment or Refund of Tax; Reference to Stamps Deleted.  Amend RSA 78-B:9-a, IV to read as follows:

IV.  At the same time the notice of additional tax is forwarded to the register of deeds pursuant to paragraph II, the commissioner shall certify to the state treasurer the amount of 4 percent of the additional tax assessed and collected, such amount to be paid within one month of the certification to the register of deeds.  The amount paid to the register of deeds hereunder shall constitute the total payment for services related to the affixing of indicia of tax [stamps to] paid and recording of the notice of additional taxes required by subparagraph II(b).

171:7  Registers of Deeds; Surcharge; Reference to Stamps Deleted.  Amend RSA 478:17-g, II(d) to read as follows:

(d)  The payment of the additional charge imposed by subparagraph (a) shall be evidenced by [stamps, or other] indicia as approved by the commissioner of the department of revenue administration, attached to the recorded instrument.

171:8  Effective Date.  This act shall take effect July 1, 2018.

 

Approved: June 08, 2018

Effective Date: July 01, 2018

Links

HB1251 at GenCourtMobile

Action Dates

Date Body Type
Jan. 16, 2018 House Hearing
Jan. 24, 2018 House Exec Session
House Floor Vote
Feb. 7, 2018 House Floor Vote
March 14, 2018 Senate Hearing
April 26, 2018 Senate Floor Vote
April 26, 2018 Senate Floor Vote
May 2, 2018 Senate Floor Vote

Bill Text Revisions

HB1251 Revision: 4102 Date: June 11, 2018, 11:05 a.m.
HB1251 Revision: 3771 Date: May 15, 2018, 3:16 p.m.
HB1251 Revision: 2069 Date: Nov. 7, 2017, 2:56 p.m.

Docket

Date Status
Jan. 3, 2018 Introduced 01/03/2018 and referred to Ways and Means HJ 1 P. 4
Jan. 16, 2018 Public Hearing: 01/16/2018 10:00 AM LOB 202
Jan. 24, 2018 Full Committee Work Session: 01/24/2018 11:00 AM LOB 202
Jan. 24, 2018 Executive Session: 01/24/2018 LOB 202
Committee Report: Ought to Pass (Vote 23-0; CC)
Feb. 7, 2018 Committee Report: Ought to Pass for 02/07/2018 (Vote 23-0; CC) HC 5 P. 18
Feb. 8, 2018 Ought to Pass: MA VV 02/08/2018 HJ 3 P. 16
Feb. 15, 2018 Introduced 02/15/2018 and Referred to Ways and Means; SJ 5
March 14, 2018 Hearing: 03/14/2018, Room 100, SH, 09:30 am; SC 11
April 26, 2018 Committee Report: Ought to Pass with Amendment # 2018-1622s, 04/26/2018; SC 18
May 2, 2018 Special Order to 05/02/2018, Without Objection, MA; 04/26/2018 SJ 14
May 2, 2018 Committee Report: Ought to Pass with Amendment # 2018-1622s, 05/02/2018; SC 19
May 2, 2018 Committee Amendment # 2018-1622s, AF, VV; 05/02/2018; SJ 15
May 2, 2018 Ought to Pass: MA, VV; OT3rdg; 05/02/2018; SJ 15
May 10, 2018 Enrolled Bill Amendment # 2018-1948e Adopted, VV, (In recess of 05/10/2018); SJ 18
May 10, 2018 Enrolled Bill Amendment # 2018-1948e: AA VV 05/10/2018
May 10, 2018 Enrolled (In recess 05/10/2018); SJ 18
May 10, 2018 Enrolled 05/10/2018
June 8, 2018 Signed by Governor Sununu 06/08/2018; Chapter 171; Eff. 7/1/2018