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SC H4071

Bill

Official Source

Status

Introduced

2/20/2025

Primary Sponsor

Kathy Landing

Click for details

Origin

House of Representatives

126th General Assembly

AI Summary

  • Excludes transfers of heirs' property made between related descendants from triggering an assessable transfer of interest for property tax purposes
  • Applies only when both the grantor and grantee already owned an interest in the property prior to the transfer
  • Intended to allow families to clear title on heirs' property without incurring property tax reassessment
  • Takes effect upon Governor's approval and applies to property tax years beginning after 2024

Legislative Description

Heirs' property

Last Action

Referred to Committee on Judiciary

2/20/2025

Committee Referrals

Judiciary2/20/2025

Full Bill Text

No bill text available