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IA SF2191

Bill

Official Source

Status

Introduced

2/4/2026

Primary Sponsor

Judiciary

Click for details

Origin

Senate

91st General Assembly

AI Summary

  • Amends Iowa Code section 428A.1 to expand exemptions from the declaration of value requirement when recording real estate transfers
  • Adds exemption for instruments of transfer resulting from corporate or limited liability company mergers, consolidations, or reorganizations
  • Exempts deeds between family corporations, partnerships, or LLCs and their stockholders, partners, or members when transferring property during incorporation, dissolution, or reorganization with no consideration other than shares or debt securities
  • Exempts deeds transferring trust asset distributions to beneficiaries when conveyed without consideration
  • Maintains existing requirement for separate declarations of value when multi-county parcels are involved, with each county recorder receiving documentation for parcels in their jurisdiction

Legislative Description

A bill for an act relating to real estate transfer tax, including declarations of value.(Formerly SSB 3019.)

Last Action

Subcommittee recommends passage.

3/4/2026

Committee Referrals

Ways and Means2/9/2026

Full Bill Text

No bill text available