BILL · 1999–00 SESSION

SB 5584: Real estate excise tax

Preventing the use of step transactions to avoid real estate excise tax.

Summary

  • The exemption from the real estate excise tax for real property transfers involving the formation, liquidation, dissolution, or reorganization of entities that are not subject to federal income tax does not apply if: (1)There is more than one of these transfers within a 12-month period and the result is the transfer or acquisition of a controlling interest in any entity with an interest in real property in this…

From the Senate Bill Report (SB 5584), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · passed Senate, stalled in House
  1. IntroducedJan 28, 1999
  2. Out of committee
  3. Passed SenateMar 17, 1999
  4. Passed Housestopped here
  5. Governor
  6. Law
Prime sponsor
Karen Fraser (D-22)
Introduced
January 28, 1999 in the Senate
Last action
January 12, 2000
Requested by
State agency
Companion bill
HB 1664
Budget
Has a fiscal note

Sponsors

Prime sponsor: Karen Fraser (D-22)

1 co-sponsor (0 Democrats, 1 Republican)

Votes

Senate · Final Passage

March 17, 1999
Version voted on: SB 5584
48 Yea 0 Nay 0 Absent 1 Excused
PartyYeaNayAbsentExcused
Democrat27000
Republican21001
How each member voted

History

The Legislature's online data doesn't include step-by-step history for sessions before 2001. Its final status is shown above, and the official bill page may have more.

SB 5584 in other sessions

Bill numbers restart every two years, so the same number is a different bill in each session.

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