SENATE BILL REPORT
SB 6881
This analysis was prepared by non-partisan legislative staff for the use of legislative members in their deliberations. This analysis is not a part of the legislation nor does it constitute a statement of legislative intent. |
As of March 2, 2010
Title: An act relating to a new surcharge on certain recorded documents for preservation of local archive documents and the Washington state heritage center.
Brief Description: Concerning a new surcharge on certain recorded documents for preservation of local archive documents and the Washington state heritage center.
Sponsors: Senators Fraser, Honeyford and Prentice.
Brief History:
Committee Activity: Ways & Means:
SENATE COMMITTEE ON WAYS & MEANS |
Staff: Brian Sims (786-7431)
Background: Document Recording Surcharges. County auditors record deeds and other written documents required by law. In addition to the general recording fee of $5 that is established by statute, county auditors are obligated to impose numerous surcharges, each for a specific purpose or program, upon each recorded instrument. Examples of the surcharges include the following:
$5 for historical preservation or programs;
$10 for providing shelter and housing through an affordable housing for all account;
$30 for local homeless housing and assistance; and
$2 for the Washington State Heritage Center.
Document recordings for the transfer or substitution of deeds of trust are exempt from the statutorily required surcharges for affordable housing.
The Washington State Heritage Center project is undergoing revisions to its preliminary design in order to modify the scope of the project to fit within the intended financing of the project.
The Local Government Archives Account provides grants to local government to assist in the processing and retention of government records.
Summary of Bill: A $27 surcharge is established that applies to assignments or substitutions of previously recorded deeds of trust recorded with a county auditor. These funds must be transmitted monthly to the State Treasurer for deposit into the Washington State Heritage Account (67 percent) and the Local Government Archives Account (33 percent).
Appropriation: None.
Fiscal Note: Requested on March 2, 2010.
[OFM requested ten-year cost projection pursuant to I-960.]
Committee/Commission/Task Force Created: No.
Effective Date: Ninety days after adjournment of session in which bill is passed.