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House Bill 1261


House Bill 1261

ARCHIVE (2012)

Latest Information

 

DIGEST OF HB 1261 (Updated January 26, 2012 4:32 pm - DI 87)


County recorders. Increases from $2 per page to $5 per page the fee for providing copies of records on paper larger than legal size. Provides the following: (1) Establishes inclusive fees for recording mortgages, deeds, assignments, affidavits, satisfactions, and releases. (2) Requires that after certain fees are deducted, the remainder of the fees collected for recording these documents must be deposited in the recorder's records perpetuation fund. Provides that the county identification security protection fee for recording a document is included in the fee charged for recording a mortgage, deed, assignment, affidavit, satisfaction, or release. Maintains the following requirements: (1) $5 of each deed recording fee is deposited in the surveyor's corner perpetuation fund. (2) $2.50 of each mortgage recording fee is deposited in the state general fund and the homeowner protection unit account. Provides that a county ordinance adopted before, on, or after July 1, 2012, that authorizes the collection of a fee on each document recorded, a part of which is deposited into the county's affordable housing fund or housing trust fund, authorizes the county recorder to charge the fee as part of the fee collected for each mortgage, deed, assignment, affidavit, satisfaction, or release recorded. Allows the resources of the Indianapolis housing trust fund to be used to fund programs considered appropriate to meet the affordable housing and community development needs of lower income families and very low income families, including lower income elderly individuals, individuals with disabilities, and homeless individuals.
Current Status:
 On 2nd Reading in 1st House
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