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Key Votes

SB 298 - Repeals Mortgage Registration Fees - Kansas Key Vote

Timeline

Issues Related to SB 298

Stage Details

Legislation - Referred to Committee (House) -
Legislation - Bill Passed (Senate) (26-12) - (Key vote)
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Title: Repeals Mortgage Registration Fees

Vote Result
Yea Votes
Nay Votes
Vote Smart's Synopsis:

Vote to pass a bill that amends mortgage registration fees.

Highlights:
  • Reduces the registration fee paid to each county for the mortgage of real property or the renewal of a mortgage from 0.26 percent of the principal debt secured by the mortgage to the following amounts (Sec. 2):
    • 0.2 percent of the principal debt secured by a mortgage received and filed for record on or after January 1, 2015 but prior to January 1, 2016;
    • 0.15 percent of the principal debt secured by a mortgage received and filed for record on or after January 1, 2016 but prior to January 1, 2017;
    • 0.1 percent of the principal debt secured by a mortgage received and filed for record on or after January 1, 2017 but prior to January 1, 2018;
    • 0.05 percent of the principal debt secured by a mortgage received and filed for record on or after January 1, 2018 but prior to January 1, 2019; and
    • 0.0 percent of the principal debt secured by a mortgage received and filed for record on or after January 1, 2019.
  • Increases certain fees charged by the county register of deeds including, but not limited to, the following fees (Sec. 1):
    • Existing law:
      • $6 for the first page of recording deeds, mortgages, or other instruments of writing; and
      • $2 for second page and each additional page of deeds, mortgages, and other instruments of writing.
    • New law for all records received and filed on and after January 1, 2015 and ending January 1, 2016:
      • $8 for first page of recording deeds, mortgages, and other instruments of writing; and
      • $4 for second page and each additional page of deeds, mortgages, and other instruments of writing.
    • New law for all records received and filed on and after January 1, 2016 and ending January 1, 2017:
      • $11 for first page of recording deeds, mortgages, and other instruments of writing; and
      • $7 for second page and each additional page of deeds, mortgages, and other instruments of writing.
    • New law for all records received and filed on and after January 1, 2017 and ending January 1, 2018:
      • $14 for first page of recording deeds, mortgages, and other instruments of writing; and
      • $10 for second page and each additional page of deeds, mortgages, and other instruments of writing.
    • New law for all records received and filed on and after January 1, 2018:
      • $17 for first page of recording deeds, mortgages, and other instruments of writing; and
      • $13 for second page and each additional page of deeds, mortgages, and other instruments of writing.
  • Requires the register of deeds to charge and collect an additional fee of $3 per page for recording certain mortgage documents and deposit the revenue from the additional fee as follows beginning January 1, 2015 (Sec. 1):
    • Deposit $2 of the fee in the register of deeds technology fund;
    • Deposit $0.50 of the fee in the county clerk technology fund; and
    • Deposit $0.50 of the fee in the county treasurer technology fund. 
  • Establishes a “County Clerk Technology Fund” in each county to be used by the county clerk to acquire equipment and technological services in the office of the county clerk (Sec. 3).
  • Establishes a “County Treasurer Technology Fund” in each county to be used by the county treasurer to acquire equipment and technological services in the office of the county clerk (Sec. 3).
  • Authorizes the county commission to transfer funds in excess of $50,000 from a County Clerk Technology Fund to other county offices for equipment and technology if a county clerk indicates that such funds in excess of $50,000 are not needed and designated for technology (Sec. 3).
  • Authorizes the county commission to transfer funds in excess of $50,000 from a County Treasurer Technology Fund to other county offices for equipment and technology if a county treasurer indicates that such funds in excess of $50,000 are not needed and designated for technology (Sec. 4).
Note:

NOTE: THIS IS A SUBSTITUTE BILL, MEANING THE LANGUAGE OF THE ORIGINAL BILL HAS BEEN REPLACED. THE DEGREE TO WHICH THE SUBSTITUTE BILL TEXT DIFFERS FROM THE PREVIOUS VERSION OF THE TEXT CAN VARY GREATLY.

Legislation - Introduced (Senate) -

Title: Repeals Mortgage Registration Fees

Committee Sponsors

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