ENGROSSED
Senate Bill No. 335
(By Senators Tomblin, Mr. President, Fanning, Chafin, Kessler,
McCabe, White and Jenkins)
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[Introduced January 26, 2007; referred to the Committee on
Finance.]
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A BILL to amend the Code of West Virginia, 1931, as amended, by
adding thereto a new section, designated §11-15-4c; and to
amend and reenact §11-22-2 of said code, all relating to the
West Virginia Affordable Housing Trust Fund generally;
imposing a fee of twenty dollars on the transfer of real
property in addition to the excise tax imposed on property
transfers; imposing a fee of twenty dollars in addition to the
consumers sales and service tax on the sale of factory-built
homes by licensed dealers; dedicating the revenue from the
additional fees to the West Virginia Affordable Housing Trust
Fund; and authorizing expenditures for administrative and
operating expenses.
Be it enacted by the Legislature of West Virginia:
That the Code of West Virginia, 1931, as amended, be amended
by adding thereto a new section, designated §11-15-4c; and that §11-22-2 of said code be amended and reenacted, all to read as
follows:
ARTICLE 15. CONSUMERS SALES AND SERVICE TAX.
§11-15-4c. Collection of fee in addition to the consumers sales
tax for sales of mobile factory-built homes;
deposit of additional fee in West Virginia
Affordable Housing Trust Fund.
(a) There is imposed, in addition to the sales tax imposed by
the provisions of this article and article fifteen-a of this
chapter, a fee of twenty dollars on all sales by licensed dealers
of factory-built homes as that term is defined in section two,
article fifteen, chapter thirty-seven of this code to be collected
as provided in article fifteen-b of this chapter and remitted to
the Tax Commissioner to be deposited by the commissioner in the
West Virginia Affordable Housing Trust Fund, as provided in article
eighteen-d, chapter thirty-one of this code.
(b) The moneys collected from this additional fee shall be
segregated from other funds in the West Virginia Affordable Housing
Trust Fund and shall be accounted for separately. Not more than
ten percent of these additional moneys may be expended by the West
Virginia Affordable Housing Trust Fund to defray administrative and
operating costs and expenses actually incurred by the West Virginia
Affordable Housing Trust Fund.
ARTICLE 22. EXCISE TAX ON PRIVILEGE OF TRANSFERRING REAL PROPERTY.
§11-22-2. Rate of tax; when and by whom payable; additional county
tax.
(a) Every person who delivers, accepts or presents for
recording any document, or in whose behalf any document is
delivered, accepted or presented for recording,
shall be is subject
to pay for, and in respect to the transaction or any part thereof,
a state excise tax upon the privilege of transferring title to real
estate at the rate of one dollar and ten cents for each five
hundred dollars' value or fraction thereof as represented by
such
the document as defined in section one
hereof, which of this
article.
The state tax
shall be is payable at the time of
delivery, acceptance or presenting for recording of
such the
document.
In addition to the state excise tax described in this
subsection, there is assessed a fee of twenty dollars upon the
privilege of transferring real estate for consideration. The clerk
of the county commission shall collect the additional twenty-dollar
fee before recording a transfer of title to real estate and shall
deposit the moneys from the additional fees into the West Virginia
Affordable Housing Trust Fund as provided in article eighteen-d,
chapter thirty-one of this code. The moneys collected from this
additional fee shall be segregated from other funds in the West
Virginia Affordable Housing Trust Fund and shall be accounted for
separately. Not more than ten percent of these additional moneys
may be expended by the West Virginia Affordable Housing Trust Fund
to defray administrative and operating costs and expenses actually incurred by the West Virginia Affordable Housing Trust Fund.
The
Housing Development Fund, as fiscal agent of the West Virginia
Affordable Housing Trust Fund, shall publish monthly on the
internet site an accounting of all revenue deposited into the fund
during the month and a full disclosure of all expenditures from the
fund including the group receiving funds, their location and any
contractor awarded the construction contract. Additionally, the
West Virginia Affordable Housing Trust Fund is to provide an annual
report to the Joint Committee on Government and Finance before the
first day of December, two thousand seven, and each year
thereafter.
(b) Effective the first day of January, first, one thousand
nine hundred sixty-eight, and thereafter, there is hereby imposed
an additional county excise tax for the privilege of transferring
title to real estate at the rate of fifty-five cents for each five
hundred dollars' value or fraction thereof as represented by such
document as defined in section one hereof of this article, which
county tax shall be payable at the time of delivery, acceptance or
presenting for recording of such document: Provided, That after the
first day of July, one thousand nine hundred eighty-nine, the
county may increase said excise tax to an amount equal to the state
excise tax. The additional tax hereby imposed is declared to be a
county tax and to be used for county purposes: Provided, however,
That only one such state tax and one such county tax shall be paid
on any one document and shall be collected in the county where the document is first admitted to record and the same tax shall be paid
by the grantor therein unless the grantee accepts the same document
without such tax having been paid, in which event such tax shall be
paid by the grantee: Provided further, That on any transfer of real
property from a trustee or a county clerk transferring real estate
sold for taxes, such tax shall be paid by the grantee. The county
excise tax imposed under this section may not be increased in any
county unless the increase is approved by a majority vote of the
members of the county commission of such county. Any county
commission intending to increase the excise tax imposed in its
county shall publish a notice of its intention to increase such tax
not less than thirty days nor more than sixty days prior to the
meeting at which such increase will be considered, such notice to
be published as a Class I legal advertisement in compliance with
the provisions of article three, chapter fifty-nine of this code
and the publication area shall be the county in which such county
commission is located.