SB 6313 removes the sunset of the additional surcharge for each document recorded (aka, the document recording fee). The fee, scheduled to be lowered on July 1st, 2015, will remain $40.
Substitute bill: As amended, the local homeless housing and assistance document surcharge is $40 per recorded document until June 30, 2020. The surcharge does not apply to assignments or substitutions of previously recorded deeds of trust; documents recording a birth, marriage, divorce, or death; or any documents otherwise exempt under state law.
At least 45 percent of the funds received by Commerce must be used for private rental vouchers. Commerce’s reporting requirements under this fee are extended from 2017 to 2020. If Commerce fails to meet its reporting requirements, the Treasurer may not authorize the use of the funds received from this fee.
