HB 813 Summary

• Authorizes resort cities (population under 10,000) to establish a real estate investment fees program upon voter approval by 60% majority vote for terms up to 10 years.

• Imposes a real estate investment fee on property transfers within participating resort cities, calculated as a percentage of sale consideration (maximum 1%), split evenly between buyer and seller, and collected at closing.

• Requires fees to be deposited into a housing trust fund designated for acquiring and building housing for essential workers and workforce housing, as specified in voter-approved ballot language.

• Exempts 13 categories of transfers from the fee, including mortgages, government transfers, gifts, inheritances, trust distributions, spousal transfers, and single-family dwelling homestead exemptions up to $63-602G limits.

• Establishes penalties including misdemeanor charges for failure to record transfers within 5 days or for false declarations of consideration or exemption status, plus $500 civil penalties and liens on property until fees are paid; effective July 1, 2022.