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Committee hears bill to prevent ‘uncapping’ when property transfers to blood relative and spouse
Summary
Sponsor said House Bill 4,014 would clarify that transfers to a blood relative that include the relative’s spouse should not trigger taxable-value uncapping; homeowners and lawmakers raised concerns about retroactivity, fiscal impact and rising home prices; the committee received multiple written-support cards; no vote was taken.
Representative Slaw presented House Bill 4,014 to the House Finance Committee on March 4, saying the bill would ensure that a transfer of property to a blood relative that also includes the relative’s spouse does not trigger an uncapping of taxable value.
“My bill 4 40 14 would ensure that an uncapping would not take place in the event that there is a spouse as part of the transfer so long as the blood relative is also part of that transfer,” the sponsor said, asking the committee to restore what he described as the original intent of a 2014 law.
The sponsor said the change would be…
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