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News & Press: Sacramento Report

Housing Bills Look to Recording Fees and Bond Funds

Monday, December 19, 2016  
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Housing Bills Look to Recording Fees and Bond Funds

Senator Toni Atkins introduced Senate Bill 2 to hike recording fees to fund affordable housing. The proposed fee is $75 on every document involved in a single transaction, up to a maximum of $225. The fee would not be charged on any transaction that involved a transfer of real property. In other words, purchase and sale transactions would be exempt. This bill is similar to AB 1335 from last legislative session that did not become law. Although just introduced, Senator Atkins bill has 10 Senate co-authors. Chances for passage may benefit this year from a 2/3 Democrat majority in the Senate and Assembly. A related bill, Senate Bill 3, was introduced by Senator Jim Beall to place a $3 billion bond measure for affordable housing on the 2018 ballot. Like the Atkins bill, SB 3 tracks last year’s legislation, SB 879, that sought to have the voters approve the sale of bond for affordable housing. The CLTA Legislative Committee will examine these two bills, along with other housing bills that may be part of a housing infrastructure package, to decide the CLTA position.

California Land Title Association

1215 K Street #1816 Sacramento, CA 95814-3905
Email:  |  Phone: 916-444-2647  |   Fax: 916-444-2851