Introduced
by
To increase the penalty for failing to notify the appropriate government agencies of a transfer of real property (for property tax assessment purposes). The bill would increase potential fines from a maximum of $200 to 1 percent of the sale price per day (starting 45 days after to the sale), up to a maximum of 25 percent of the sale price.
Referred to the Committee on Tax Policy
Reported without amendment
With the recommendation that the substitute (H-1) be adopted and that the bill then pass.
Substitute offered
To adopt a version that proposes reduced penalties, and which applies only to industrial and commercial property.
The substitute passed by voice vote
Passed in the House 106 to 2 (details)
To increase the penalty for failing to notify the appropriate government agencies of a transfer of industrial and commercial property (for property tax assessment purposes). The bill would increase potential fines from a maximum of $200 to $1,000, and $20,000 if the property sale price is more than $100 milion.
Referred to the Committee on Finance
Reported without amendment
With the recommendation that the bill pass.
Passed in the Senate 38 to 0 (details)
To increase the penalty for failing to notify the appropriate government agencies of a transfer of industrial and commercial property (for property tax assessment purposes). The bill would increase potential fines from a maximum of $200 to $1,000, and $20,000 if the property sale price is more than $100 milion.
