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Committee advances bill reallocating county transfer-tax revenue to elections and records accounts
Summary
Senate Bill 743 would change the allocation of the county-collected excise tax on real-property transfers so that 10% each goes to election administration and the record room, and 80% to the county general fund. County clerks testified the change would help counties set aside matching funds for federal HAVA grants and equipment upgrades.
The Senate Government Organization Committee voted to report Senate Bill 743 to the full Senate with the recommendation that it do pass, under the bill's original double-reference to Finance. Committee counsel described the measure as amending chapter 11 to change how money collected from the former state portion of the excise tax on transfer of real property (often called the stamp tax) is allocated at the county level.
Under the bill, all money collected in a county would remain county funds but would be divided so that 10% is deposited to an account for election administration purposes, 10% to the record-room (recording) account, and…
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