Bill No.:                     SF0009                                   Drafter:  LNS

LSO No.:                   13LSO-0067                         Effective Date:  7/1/2013

Enrolled Act No.:    SEA0056

Chapter No.:            CH0137

Prime Sponsor:       Joint Judiciary Interim Committee

Catch Title:              Private transfer fees.

Subject:                     Prohibition of private transfer fees.

Summary/Major Elements:

· A private transfer fee, very generally, is a fee that is charged each time land is sold, but is not a payment for the land itself.

· Currently, private transfer fees are not enforceable.  However, the prohibition on enforceability ends July 1, 2014.

· This act makes the prohibition on private transfer fees permanent.

· This act also clarifies that the prohibition on private transfer fees does not affect transfers of mineral rights.