2001 REGULAR SESSION (71st)                                                                       A SB238 R1 790

Amendment No. 790

 

Assembly Amendment to Senate Bill No. 238  First Reprint                                                (BDR 32‑138)

Proposed by: Committee on Taxation

Amendment Box:

Resolves Conflicts with: N/A

Amends:         Summary:               Title:               Preamble:               Joint Sponsorship:

 

Adoption of this amendment will:

      (1) MAINTAIN a 2/3s majority vote requirement for final passage of SB238 R1 (§ 28); and

      (2) MAINTAIN an unfunded mandate not requested by the affected local government to SB238 R1 (§§ 4, 5).

 

ASSEMBLY ACTION              Initial and Date              |SENATE ACTION                        Initial and Date

       Adopted       Lost                                               |          Adopted       Lost                                           

Concurred In                     Not                                                        |Concurred In  Not                                 

       Receded        Not                                               |         Receded        Not                                           

 

     Amend sec. 15, page 5, line 23, by deleting “commissioner” and inserting “recorder”.

     Amend sec. 28, pages 9 and 10, by deleting lines 39 through 47 on page 9 and lines 1 through 42 on page 10, and inserting:

     “1.  [Any transaction wherein an interest in real property is encumbered for the purposes of securing a debt.] A mere change in identity, form or place of organization, such as a transfer between a corporation and its parent corporation, a subsidiary or an affiliated corporation if the affiliated corporation has identical common ownership.

     2.  A transfer of title to [or from] the United States, any territory or state or any agency, department, instrumentality or political subdivision thereof.

     3.  A transfer of title recognizing the true status of ownership of the real property.

     4.  A transfer of title without consideration from one joint tenant or tenant in common to one or more remaining joint tenants or tenants in common.

     5.  A transfer of title to community property without consideration when held in the name of one spouse to both spouses as joint tenants or tenants in common, or as community property.

     6.  A transfer of title between spouses, including gifts.

     7.  A transfer of title between spouses to effect a property settlement agreement or between former spouses in compliance with a decree of divorce.

     8.  A transfer of title to or from a trust, if the transfer is made without consideration [.] , and is made to or from:

     (a) The trustor of the trust;

     (b) The trustor’s legal representative; or

     (c) A person related to the trustor in the first degree of consanguinity.

FLUSH
 
As used in this subsection, “legal representative” has the meaning ascribed to it in NRS 167.020.

     9.  Transfers, assignments or conveyances of unpatented mines or mining claims.

     10.  A transfer, assignment or other conveyance of real property to a corporation or other business organization if the person conveying the property owns 100 percent of the corporation or organization to which the conveyance is made.

     11.  A transfer, assignment or conveyance of real property if the owner of the property is related to the person to whom it is conveyed within the first degree of consanguinity.

     12.  The making, delivery or filing of conveyances of real property to make effective any plan of reorganization or adjustment:

     (a) Confirmed under the Bankruptcy Act, as amended, [Title 11 of U.S.C.;] 11 U.S.C. §§ 101 et seq.;

     (b) Approved in an equity receivership proceeding involving a railroad , as defined in the Bankruptcy Act; or

     (c) Approved in an equity receivership proceeding involving a corporation, as defined in the Bankruptcy Act , [; or

     (d) Whereby a mere change in identity, form or place of organization is effected, such as a transfer between a corporation and its parent corporation, a subsidiary of an affiliated corporation,]

FLUSH
 
if the making, delivery or filing of instruments of transfer or conveyance occurs within 5 years after the date of the confirmation, approval or change.”.