CHAPTER428A - Iowa

1 1 REALESTATETRANSFERTAX, , , ,instrument,orwritingbywhichanylands,ten ements,orotherrealtyinthisstatearegrante d,assigned,transferred,orotherwiseconvey ed,ataxdeterminedinthefollowingmanner:(1 )Whenthereisnoconsiderationorwhenthedeed ,instrument,orwritingisexecutedandtender edforrecordingasaninstrumentcorrectiveof title,andsostates,thereisnotax.(2)Whenth ereisconsiderationandtheactualmarketvalu eoftherealpropertytransferredisinexcesso ffivehundreddollars, consideration ,asusedinthischapter,meansthefullamounto ftheactualsalepriceoftherealpropertyinvo lved,paidortobepaid,includingtheamountof anencumbranceorlienontheproperty, , ,instrument,orwritingbywhichanyrealprope rtyinthisstateisgranted,assigned,transfe rred,orotherwiseconveyedispresentedforre cordingtothecountyrecorder, ,ifthedeed,instrument,orwritingcontainsm ultipleparcelssomeofwhicharelocatedinmor ethanonecounty, ,subsections2through5,7through13,and16th rough21, ,subsection6.

2 Exceptinthecaseofafederalagencyorinstrum entality,orifatransferistheresultofacqui sitionoflands,whetherbycontractorcondemn ation, , ,ispurchasedbyacorporation,limitedpartne rship,trust,alienornonresidentalien,thed eclarationofvalueshallincludethenameanda ddressofthebuyer,thenameandaddressofthes eller,alegaldescriptionoftheagricultural land,andidentifythebuyerasacorporation,l imitedpartnership,trust,alien, , ,uponreceiptofFriDec0322:20:262021 IowaCode2022, CHAPTER428A (18,1) ,REALESTATETRANSFERTAX2theinformationreq uiredtobefiledunderthischapterbythecityo rcountyassessor,sendtotheofficeofthesecr etaryofstatethatpartofthedeclarationofva luewhichidentifiesacorporation,limitedpa rtnership,trust,alien, [C66,71,73,75,77,79,81,S81, ;81 Acts,ch141, 1;82 Acts,ch1027, 1]85 Acts,ch96, 1;87 Acts,ch133, 1;87 Acts,ch198, 4;89 Acts,ch271, 1;91 Acts,ch267, 317;92 Acts,ch1073, 12;92 Acts,ch1212, 35;96 Acts,ch1167, 6;99 Acts,ch175, 1;2003 Acts,ch145, 286;2018 Acts,ch1041, 93;2020 Acts,ch1118, 22.

3 2021 Acts,ch80, 271 Referredtoin , , ,assignment,extension,partialrelease, ,instrument,orwritinginwhichtheUnitedSta tesoranyagencyorinstrumentalitythereofor thestateofIowaoranyagency,instrumentalit y,orgovernmentalorpoliticalsubdivisionth ereofisthegrantor,assignor,transferor,or conveyor;andanydeed, , ,withoutadditionalconsideration,confirm, correct,modify, ,orparentandchild, ,ifanyofthepartiestakesharesgreaterinval uethantheirundividedinterestataxisdueont hegreatervalues, ,consolidation,orreorganizationoramerger ,consolidation,orreorganizationofalimite dliabilitycompanyunderthelawsoftheUnited Statesoranystatethereof, ,partnership,limitedpartnership,limitedl iabilitypartnership,orlimitedliabilityco mpanyanditsstockholders,partners,ormembe rsforthepurposeoftransferringrealpropert yinanincorporationorcorporatedissolution ortheorganizationordissolutionofapartner ship,limitedpartnership.

4 Limitedliabilitypartnership,orlimitedlia bilitycompanyunderthelawsofthisstate,whe rethedeedsaregivenfornoactualconsiderati onotherthanforsharesorfordebtsecuritieso fthecorporation,partnership,limitedpartn ership,limitedliabilitypartnership, ,afamilycorporation,partnership,limitedp artnership,limitedliabilitypartnership,o rlimitedliabilitycompanyisacorporation,p artnership,limitedpartnership,limitedlia bilitypartnership,orlimitedliabilitycomp anywherethemajorityofthevotingstockofthe corporation,oroftheownershipsharesofthep artnership,FriDec0322:20:262021 IowaCode2022, CHAPTER428A (18,1)3 REALESTATETRANSFERTAX, ,limitedliabilitypartnership,orlimitedli abilitycompanyisheldbyandthemajorityofth estockholders,partners,ormembersareperso nsrelatedtoeachotherasspouse,parent,gran dparent,linealascendantsofgrandparentsor theirspousesandotherlinealdescendantsoft hegrandparentsortheirspouses,orpersonsac tinginafiduciarycapacityforpersonssorela tedandwhereallofitsstockholders,partners , [C66,71,73,75,77,79,81, ;82 Acts,ch1027, 2 4]87 Acts,ch198, 5;89 Acts,ch271, 2;91 Acts,ch191, 25;95 Acts,ch175, 1.

5 96 Acts,ch1170, 1 Referredtoin , , ,firmorcorporationwhogrants,assigns,tran sfers,orconveysanyland,tenement,orrealty byadeed,writing,orinstrumentsubjecttothe taximposedbythischaptershallbeliablefors uchtaxbutnopublicofficialshallbeliablefo rataxwithrespecttoanyinstrumentexecutedb ythepublicofficialinconnectionwithoffici alduties.[C66,71,73,75,77,79,81, ] ,instrument,orwriting, ,ifthedeed,instrument,orwriting, ,thecountyrecordershallnotrefusetorecord thedocumentifthereisfiledwithorendorsedo nitastatementsignedbyeitherthegrantororg ranteeoranauthorizedagent, ,andastoanypersonwhowouldotherwisebeboun dbytheinstrument, ,instrument,orwritingbywhichanyrealprope rtyinthisstateshallbegranted,assigned,tr ansferred,orotherwiseconveyed, ,subsections2through5,7through13,and16th rough21, ,subsection6,exceptinthecaseofafederalag encyorinstrumentality, [C66,71,73,75,77,79,81, ]83 Acts,ch135, 1;87 Acts,ch133, 2.

6 2009 Acts,ch27, [C66,71,73,75,77,79,81, ]83 Acts,ch135, 2;99 Acts,ch175, 2;2001 Acts,ch44, 19;2003 Acts,ch145, 286;2009 Acts,ch27, 17 Referredtoin :20:262021 IowaCode2022, CHAPTER428A (18,1) , ,thedepartmentshallprovidethatthesocials ecuritynumberorfederaltaxidentificationn umberremainsconfidentialandcannotbeobtai nedbypublicexamination.[C66,71,73,75,77, 79,81, ]83 Acts,ch135, 3;2003 Acts,ch145, 286;2009 Acts,ch112, ,thedirectorofrevenueshallcollectthetaxi nthesamemannerastaxesarecollectedinchapt er422, , ,subsections1,2,3,and4, , , ,consistentwiththischapter,applywithresp ecttothecollectionofanytaxoradditionalta xfoundtobedue,inthesamemannerandwiththes ameeffectasifthedeed,instrument, , , ,2009,ninetypercentofthereceiptsshallbed epositedinthegeneralfund,fivepercentofth ereceiptsshallbetransferredtothehousingt rustfund, ,2010,eighty-fivepercentofthereceiptssha llbedepositedinthegeneralfund,tenpercent ofthereceiptsshallbetransferredtothehous ingtrustfund, ,2011.

7 Eightypercentofthereceiptsshallbedeposit edinthegeneralfund,fifteenpercentofthere ceiptsshallbetransferredtothehousingtrus tfund, ,2012,seventy-fivepercentofthereceiptssh allbedepositedinthegeneralfund,twentyper centofthereceiptsshallbetransferredtothe housingtrustfund, ,2013,seventypercentofthereceiptsshallbe depositedinthegeneralfund,twenty-fiveper centofthereceiptsshallbetransferredtothe housingtrustfund, ,2014,andeachsucceedingfiscalyear,sixty- fivepercentofthereceiptsshallbedeposited inthegeneralfund,thirtypercentoftherecei ptsshallbetransferredtothehousingtrustfu nd, :20:262021 IowaCode2022, CHAPTER428A (18,1)5 REALESTATETRANSFERTAX, , [C66,71,73,75,77,79,81, ]83 Acts,ch123, 176,209;83 Acts,ch135, 4;91 Acts,ch267, 318;94 Acts,ch1201, 28;97 Acts,ch201, 22;2001 Acts,ch150, 18;2003 Acts,ch145, 286;2008 Acts,ch1179, 56;2010 Acts,ch1031, 266;2020 Acts,ch1062, 94;2021 Acts,ch177, 17 Referredtoin , ,ch150, ,firmorcorporationliableforthetaximposed bythischapterwhoknowinglyfailstocomplywi ththischapterrelatingtothepaymentofthere alestatetransfertaxisguiltyofasimplemisd emeanor.

8 [C66,71,73,75,77,79,81, ]83 Acts,ch135, [C66,71,73,75,77,79,81, ]2003 Acts,ch145, ,instrument,orwritingwheresuchdeed,instr ument,orwritingmaynotundertheConstitutio nofthisstateorundertheConstitutionorlaws oftheUnitedStatesbemadethesubjectoftaxat ionbythisstate.[C66,71,73,75,77,79,81, ] [C79,81, ]FriDec0322:20:262021 IowaCode2022, CHAPTER428A (18,1)