SB238_EN

Senate Bill No. 238–Committee on Taxation

CHAPTER..........

AN ACT relating to taxation; providing certain rights for taxpayers of the tax on the transfer of real property; establishing provisions relating to the collection and enforcement of the tax on the transfer of real property; eliminating certain exemptions from the tax on the transfer of real property; and providing other matters properly relating thereto.

THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN

SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:

1-1 Section 1. Chapter 375 of NRS is hereby amended by adding thereto

1-2 the provisions set forth as sections 2 to 24, inclusive, of this act.

1-3 Sec. 2. Section 3 of this act may be cited as the Taxpayers’ Bill of

1-4 Rights for Taxes on the Transfer of Real Property.

1-5 Sec. 3. 1. The legislature hereby declares that each taxpayer has

1-6 the right:

1-7 (a) To be treated by officers and employees of the county recorder

1-8 with courtesy, fairness, uniformity, consistency and common sense.

1-9 (b) To a prompt response from the county recorder to each

1-10 communication from the taxpayer.

1-11 (c) To provide the minimum documentation and other information as

1-12 may reasonably be required by the county recorder to carry out his

1-13 duties.

1-14 (d) To be notified, in writing, by the county recorder whenever an

1-15 officer or employee of the county recorder determines that the taxpayer is

1-16 entitled to an exemption or has been taxed more than is required

1-17 pursuant to this chapter.

1-18 (e) To written instructions indicating how the taxpayer may petition

1-19 for a refund for overpayment of real property transfer tax, interest or

1-20 penalties.

1-21 (f) To recover an overpayment of real property transfer tax promptly

1-22 upon the final determination of such an overpayment.

1-23 (g) To obtain specific advice from the county recorder concerning real

1-24 property transfer tax.

1-25 (h) In any meeting with the county recorder, including an audit,

1-26 conference, interview or hearing:

1-27 (1) To an explanation by an officer, agent or employee of the

1-28 county recorder that descGreen numbers along left margin indicate location on the printed bill (e.g., 5-15 indicates page 5, line 15).ribes the procedures to be followed and the

1-29 rights of the taxpayer thereunder;

1-30 (2) To be represented by himself or anyone who is otherwise

1-31 authorized by law to represent him before the county recorder;

1-32 (3) To make an audio recording using the taxpayer’s equipment

1-33 and at the taxpayer’s expense; and

1-34 (4) To receive a copy of any document or audio recording made by

1-35 or in the possession of the county recorder relating to the determination

1-36 or collection of any tax for which the taxpayer is assessed pursuant to

1-37 this chapter, upon payment of the actual cost to the county recorder of

1-38 making the copy.

1-39 (i) To a full explanation of the authority of the county recorder to

1-40 collect the real property transfer tax or to collect delinquent real property

2-1 transfer tax, including, without limitation, the procedures and notices for

2-2 review and appeal that are required for the protection of the taxpayer. An

2-3 explanation which meets the requirements of this section must also be

2-4 included with each notice to a taxpayer that an audit will be conducted by

2-5 the county.

2-6 (j) To the immediate release of any lien which the county recorder has

2-7 placed on real property for the nonpayment of the real property transfer

2-8 tax when:

2-9 (1) The tax is paid;

2-10 (2) The period of limitation for collecting the tax expires;

2-11 (3) The lien is the result of an error by the county recorder;

2-12 (4) The county recorder determines that the taxes, interest and

2-13 penalties are secured sufficiently by a lien on other real property;

2-14 (5) The release or subordination of the lien will not jeopardize the

2-15 collection of the taxes, interest and penalties; or

2-16 (6) The release of the lien will facilitate the collection of the taxes,

2-17 interest and penalties.

2-18 (k) To be free from harassment and intimidation by an officer or

2-19 employee of the county recorder for any reason.

2-20 2. The provisions of this chapter governing the administration and

2-21 collection of taxes by the county recorder must not be construed in such

2-22 a manner as to interfere or conflict with the provisions of this section or

2-23 any applicable regulations.

2-24 3. The provisions of this section apply to the administration and

2-25 collection of taxes pursuant to this chapter.

2-26 Sec. 4. The county recorder shall cause:

2-27 1. To be prepared in simple nontechnical terms a pamphlet setting

2-28 forth the Taxpayers’ Bill of Rights for Taxes on the Transfer of Real

2-29 Property.

2-30 2. A copy of the pamphlet to be distributed:

2-31 (a) To each taxpayer upon request; and

2-32 (b) With each notice to a taxpayer that an audit will be conducted by

2-33 the county recorder.

2-34 Sec. 5. The county recorder shall provide each taxpayer who it

2-35 determines may be liable for taxes pursuant to this chapter with

2-36 simplified written instructions concerning the rights and responsibilities

2-37 of the taxpayer, including the:

2-38 1. Keeping of records sufficient for audit purposes;

2-39 2. Procedures for paying the real property transfer tax; and

2-40 3. Procedures for challenging any liability for real property transfer

2-41 tax, penalties or interest and for requesting refunds of erroneously paid

2-42 real property transfer tax, including the steps for appealing a denial

2-43 thereof.

2-44 Sec. 6. The county recorder shall provide a taxpayer with a response

2-45 to any written request submitted by the taxpayer that relates to a real

2-46 property transfer tax within 30 days after it receives the request.

2-47 Sec. 7. A taxpayer is entitled to receive on any overpayment of the

2-48 real property transfer tax a refund together with interest at a rate

2-49 determined pursuant to NRS 17.130. No interest is allowed on a refund

3-1 of any penalties or interest on the real property transfer tax that is paid

3-2 by a taxpayer.

3-3 Sec. 8. With regard to the administration of the real property

3-4 transfer tax, the county recorder shall apply the following principles:

3-5 1. Forms, instructions and regulations governing the computation of

3-6 the amount of tax due must be brief and easily understood.

3-7 2. In cases where another authority, such as the United States or this

3-8 state, also imposes a tax upon the same property or revenue, the

3-9 mechanism for collecting the tax imposed by the county must be as

3-10 nearly compatible with the collection of the other taxes as is feasible.

3-11 3. Unless a change is made necessary by statute or to preserve

3-12 compatibility with a tax imposed by another authority, the forms,

3-13 instructions and regulations must remain the same from year to year, to

3-14 make the taxpayer’s liability as predictable as is feasible.

3-15 4. Exemptions or waivers, where permitted by statute, must be

3-16 granted:

3-17 (a) Equitably among eligible taxpayers; and

3-18 (b) As sparingly as is consistent with the legislative intent, to retain

3-19 the broadest feasible base for the tax.

3-20 Sec. 9. If an officer or employee of the county recorder determines

3-21 that a taxpayer is entitled to an exemption or has been taxed more than is

3-22 required by law, he shall give written notice of that determination to the

3-23 taxpayer. The notice must:

3-24 1. Be given within 30 days after the officer or employee makes his

3-25 determination or, if the determination is made as a result of an audit,

3-26 within 30 days after the completion of the audit; and

3-27 2. If appropriate, include instructions indicating the manner in

3-28 which the taxpayer may petition for a refund of any overpayment.

3-29 Sec. 10. The county recorder shall:

3-30 1. Conduct and apply audits and other procedures for enforcement

3-31 as uniformly as is feasible.

3-32 2. Collect real property transfer tax due in an equitable manner, so

3-33 that every taxpayer pays the full amount imposed by law.

3-34 Sec. 11. 1. The county recorder may audit all records relating to

3-35 the collection and calculation of the real property transfer tax. If the

3-36 county recorder deems it necessary to conduct an audit, the audit must be

3-37 completed within 3 years after the date of the original recording of the

3-38 document that evidences the transfer of property for which the tax was

3-39 imposed.

3-40 2. The county recorder may issue subpoenas to require the

3-41 production of documents necessary for him to determine the amount of

3-42 real property transfer tax due pursuant to this chapter or to determine

3-43 whether a person qualifies for an exemption from taxes pursuant to this

3-44 chapter. The county recorder may have the subpoenas served, and upon

3-45 application of the district attorney, to any court of competent jurisdiction,

3-46 enforced in the manner provided by law for the service and enforcement

3-47 of subpoenas in a civil action.

4-1 Sec. 12. 1. If an audit is conducted by the county recorder

4-2 pursuant to the provisions of this chapter, the date on which the audit

4-3 will be completed must be included in the notice to the taxpayer that the

4-4 audit will be conducted.

4-5 2. The date on which the audit will be completed may be extended by

4-6 the county recorder if the county recorder gives prior written notice of

4-7 the extension to the taxpayer. The notice must include an explanation of

4-8 the reason or reasons that the extension is required.

4-9 3. If, after the audit, the county recorder determines that delinquent

4-10 taxes are due, interest and penalties may not be imposed for the period of

4-11 the extension if the taxpayer did not request the extension or was not

4-12 otherwise the cause of the extension.

4-13 Sec. 13. 1. The county recorder may waive any real property

4-14 transfer tax, penalty and interest owed by the taxpayer if the taxpayer

4-15 meets the criteria adopted by regulation. If a waiver is granted pursuant

4-16 to this subsection, the county shall prepare and maintain on file a

4-17 statement that contains:

4-18 (a) The reason for the waiver;

4-19 (b) The amount of the tax, penalty and interest owed by the taxpayer;

4-20 and

4-21 (c) The amount of the tax, penalty and interest waived by the county.

4-22 2. If the county recorder or a designated hearing officer finds that

4-23 the failure of a person to make a timely payment of the real property

4-24 transfer tax imposed is the result of circumstances beyond his control

4-25 and occurred despite the exercise of ordinary care and without intent to

4-26 avoid such payment, the county recorder may relieve him of all or part of

4-27 any interest or penalty or both.

4-28 3. If a person proves to the satisfaction of the county recorder that he

4-29 has in good faith remitted the real property transfer tax in reliance upon

4-30 written advice provided by an officer or employee of the county recorder,

4-31 an opinion of the district attorney or attorney general, or the written

4-32 results of an audit of his records conducted by the county recorder, the

4-33 county recorder may not require the taxpayer to pay delinquent taxes,

4-34 penalties or interest if the county recorder determines after the

4-35 completion of a subsequent audit that the taxes the taxpayer remitted

4-36 were deficient.

4-37 Sec. 14. Any amount determined to be refundable by the county

4-38 recorder after an audit must be refunded to the taxpayer. If it is not

4-39 possible to determine who paid the tax, the refund must be split equally

4-40 between the seller and buyer.

4-41 Sec. 15. 1. After reviewing a petition for a refund, the county

4-42 recorder or his designee shall approve or disapprove the refund. If the

4-43 county recorder approves the refund, he shall grant the refund to the

4-44 taxpayer.

4-45 2. If the county recorder denies a refund, the petitioner may file a

4-46 written notice of appeal to the county recorder within 45 days after the

4-47 date the county recorder decides to deny the petition. If notice is not

4-48 received by the county recorder within 45 days after his decision to deny

4-49 the petition, the decision of the county recorder is final.

5-1 3. If the county recorder receives a timely notice of appeal pursuant

5-2 to subsection 2, he shall set a date for a hearing before a hearing officer

5-3 and notify the parties of the date, place and time of the hearing.

5-4 Sec. 16. 1. Any person who is aggrieved by a decision of the county

5-5 recorder made pursuant to this chapter may appeal the decision by filing

5-6 a notice of appeal with the county recorder within 30 days after service of

5-7 the decision upon that person.

5-8 2. A hearing officer, appointed by the county, may review any

5-9 decision made by the county recorder and may reverse, affirm or modify

5-10 any decision of the county recorder. A hearing officer appointed

5-11 pursuant to this section must not be an employee of the county recorder’s

5-12 office. A decision of a hearing officer is a final decision for purposes of

5-13 judicial review.

5-14 3. Service of a decision made by the county recorder or a hearing

5-15 officer pursuant to this chapter must be made personally or by certified

5-16 mail. If service is made by certified mail:

5-17 (a) The decision must be enclosed in an envelope that is addressed to

5-18 the taxpayer at his address as it appears on the declaration of value or in

5-19 the records of the county.

5-20 (b) It is deemed to be complete at the time the appropriately addressed

5-21 envelope containing the decision is deposited with the United States

5-22 Postal Service.

5-23 4. All decisions of the county recorder made pursuant to this chapter

5-24 are final unless appealed.

5-25 5. A county recorder or local government that is a party and is

5-26 aggrieved by the decision of the hearing officer may seek judicial review

5-27 of the decision in the district court of that county.

5-28 Sec. 17. In an action relating to a tax imposed pursuant to this

5-29 chapter, process must be served:

5-30 1. In accordance with the requirements for service of process set

5-31 forth in the Nevada Rules of Civil Procedure; or

5-32 2. By serving both the buyer and the seller at their place of residence

5-33 in this state or their last known address.

5-34 Sec. 18. A certificate by the county recorder stating that real

5-35 property has been released from a lien imposed pursuant to this chapter

5-36 is conclusive evidence that the property has been released.

5-37 Sec. 19. 1. The amounts, including interest and penalties, required

5-38 to be paid by any person pursuant to this chapter must be satisfied first

5-39 if:

5-40 (a) The person is insolvent;

5-41 (b) The person makes a voluntary assignment of his assets;

5-42 (c) The estate of the person in the hands of executors, administrators

5-43 or heirs, before distribution, is insufficient to pay all the debts due from

5-44 the deceased; or

5-45 (d) The estate and effects of an absconding, concealed or absent

5-46 person required to pay any amount by force of such a revenue act are

5-47 levied upon by process of law.

5-48 2. This section does not give the county recorder a preference over:

5-49 (a) Any recorded lien that attached before the date when the amounts

5-50 required to be paid became a lien; or

6-1 (b) Any costs of administration, funeral expenses, expenses of

6-2 personal illness, family allowances or debts preferred pursuant to federal

6-3 law or wages as provided in NRS 150.220.

6-4 Sec. 20. 1. The county or its authorized representative may issue a

6-5 warrant for the enforcement of a lien and for the collection of any

6-6 delinquent tax that is administered pursuant to this chapter:

6-7 (a) Within 3 years after the person is delinquent in the payment of the

6-8 tax; or

6-9 (b) Within 5 years after the last recording of a certificate copy

6-10 constituting a lien for the tax.

6-11 2. The warrant must be directed to a sheriff or constable and has the

6-12 same effect as a writ of execution.

6-13 3. The warrant must be levied and sale made pursuant to the warrant

6-14 in the same manner and with the same effect as a levy of and a sale

6-15 pursuant to a writ of execution.

6-16 Sec. 21. The county may pay or advance to the sheriff or constable

6-17 the same fees, commissions and expenses for acting upon the warrant as

6-18 are provided by law for acting upon a writ of execution. The county must

6-19 approve the fees for publication in a newspaper. Approval from a court is

6-20 not required for the publication.

6-21 Sec. 22. 1. If a person is delinquent in the payment of the real

6-22 property transfer tax or has not paid the amount of a deficiency

6-23 determination, the county may bring an action in a court of this state, a

6-24 court of any other state or a court of the United States that has competent

6-25 jurisdiction to collect the delinquent or deficient amount, penalties and

6-26 interest. The action:

6-27 (a) May not be brought if the decision that the payment is delinquent

6-28 or that there is a deficiency determination is on appeal to a hearing

6-29 officer pursuant to section 16 of this act.

6-30 (b) Must be brought not later than 3 years after the payment became

6-31 delinquent or the determination became final.

6-32 2. The district attorney shall prosecute the action. The provisions of

6-33 the Nevada Revised Statutes, Nevada Rules of Civil Procedure and

6-34 Nevada Rules of Appellate Procedure relating to service of summons,

6-35 pleadings, proofs, trails and appeals are applicable to the proceedings. In

6-36 the action, a writ of attachment may issue. A bond or affidavit is not

6-37 required before an attachment may be issued.

6-38 3. In an action, a certificate by the county recorder showing the

6-39 delinquency is prima facie evidence of:

6-40 (a) The determination of the tax or the amount of the tax;

6-41 (b) The delinquency of the amounts; and

6-42 (c) The compliance by the county recorder with all the procedures

6-43 required by law relating to the computation and determination of the

6-44 amounts.

6-45 Sec. 23. The lien may, within 5 years after the date of the judgment

6-46 or within 5 years after the last extension of the lien in a manner provided

6-47 in this chapter, be extended by recording in the office of the county

6-48 recorder a certified copy of the judgment, and from the time of that

6-49 recording, the lien must be extended upon the property in that county for

6-50 5 years unless sooner released or otherwise discharged.

7-1 Sec. 24. 1. If any real property transfer tax imposed pursuant to

7-2 this chapter is not paid when due, the county may, within 3 years after

7-3 the date that the tax was due, record a certificate in the office of the

7-4 county recorder which states:

7-5 (a) The amount of the real property transfer tax and any interest or

7-6 penalties due;

7-7 (b) The name and address of the person who is liable for the amount

7-8 due as they appear on the records of the county; and

7-9 (c) That the county recorder has complied with all procedures

7-10 required by law for determining the amount due.

7-11 2. From the time of the recording of the certificate, the amount due,

7-12 including interest and penalties, constitutes:

7-13 (a) A lien upon the real property for which the tax was due if the

7-14 person who owes the tax still owns the property; or

7-15 (b) A demand for payment if the property has been sold or otherwise

7-16 transferred to another person.

7-17 3. The lien has the effect and priority of a judgment lien and

7-18 continues for 5 years after the time of the recording of the certificate

7-19 unless sooner released or otherwise discharged.

7-20 4. Within 5 years after the date of the judgment or within 5 years

7-21 after the date of the last extension of the lien pursuant to this subsection,

7-22 the lien may be extended by recording a certified copy of the judgment in

7-23 the office of the county recorder. From the time of recording the

7-24 judgment, the lien is extended for 5 years, unless sooner released or

7-25 otherwise discharged.

7-26 Sec. 25. NRS 375.010 is hereby amended to read as follows:

7-27 375.010 The following terms, wherever used or referred to in this

7-28 chapter, have the following meaning unless a different meaning clearly

7-29 appears in the context:

7-30 1. “Buyer” means a person or other legal entity acquiring title to any

7-31 estate or present interest in real property in this state by deed, including,

7-32 without limitation, a grantee or other transferee of real property.

7-33 2. “Deed” means every instrument in writing, except a last will and

7-34 testament, whatever its form, and by whatever name it is known in law, by

7-35 which title to any estate or present interest in real property, including a

7-36 water right, permit, certificate or application, is conveyed or transferred to,

7-37 and vested in, another person, but does not include a lease for any term of

7-38 years , [or] an easement[.] , a deed of trust or common law mortgage

7-39 instrument that encumbers real property, an affidavit of surviving tenant

7-40 or a conveyance of a right of way.

7-41 3. “Escrow” means the delivery of a deed by the seller into the hands

7-42 of a third person, including an attorney, title company, real estate broker or

7-43 other person engaged in the business of administering escrows for

7-44 compensation, to be held by the third person until the happening of a

7-45 contingency or performance of a condition, and then to be delivered by the

7-46 third person to the buyer.

7-47 4. “Seller” means a person or other legal entity transferring title to any

7-48 estate or present interest in real property in this state by deed, including,

7-49 without limitation, a grantor or other transferor of real property.

7-50 5. “Value” means:

8-1 (a) In the case of any deed not a gift, the amount of the full[, actual

8-2 consideration] purchase price paid or to be paid for the real property . [,

8-3 excluding the amount of any lien or liens assumed.]

8-4 (b) In the case of a gift, or any deed with nominal consideration or

8-5 without stated consideration, the estimated [price the real property would

8-6 bring in an open market and under the then prevailing market conditions in

8-7 a sale between a willing seller and a willing buyer, both conversant with

8-8 the property and with prevailing general price levels.] fair market value of

8-9 the property.

8-10 As used in this section, “estimated fair market value” means the

8-11 estimated price the real property would bring on the open market in a

8-12 sale between a willing buyer and a willing seller. Such price may be

8-13 derived from the assessor’s taxable value or the prior purchase price, if

8-14 the prior purchase was within the 5 years immediately preceding the date

8-15 of valuation, whichever is higher.

8-16 Sec. 26. NRS 375.020 is hereby amended to read as follows:

8-17 375.020 1. A tax, at the rate of:

8-18 (a) In a county whose population is 400,000 or more, $1.25; and

8-19 (b) In a county whose population is less than 400,000, 65 cents,

8-20 for each $500 of value or fraction thereof, is hereby imposed on each deed

8-21 by which any lands, tenements or other realty is granted, assigned,

8-22 transferred or otherwise conveyed to, or vested in, another person, if the

8-23 consideration or value of the interest or property conveyed [, exclusive of

8-24 the value of any lien or encumbrance remaining on the interest or property

8-25 at the time of sale,] exceeds $100.

8-26 2. The amount of tax must be computed on the basis of the value of the

8-27 transferred real property as declared pursuant to NRS 375.060.

8-28 Sec. 27. NRS 375.030 is hereby amended to read as follows:

8-29 375.030 1. If any deed evidencing a transfer of title subject to the tax

8-30 imposed by NRS 375.020 and, if applicable, NRS 375.025, is offered for

8-31 recordation, the county recorder shall compute the amount of the tax due

8-32 and shall collect that amount before acceptance of the deed for recordation.

8-33 2. The buyer and seller are jointly and severally liable for the payment

8-34 of the taxes imposed by NRS 375.020 and 375.025 and any penalties and

8-35 interest imposed pursuant to subsection 3. The escrow holder is not liable

8-36 for the payment of the taxes imposed by NRS 375.020 and 375.025 or any

8-37 penalties or interest imposed pursuant to subsection 3.

8-38 3. If after recordation of the deed, the county recorder disallows an

8-39 exemption that was claimed at the time the deed was recorded or through

8-40 audit or otherwise determines that an additional amount of tax is due, the

8-41 county recorder shall promptly notify the person who requested the

8-42 recording of the deed and the buyer [or seller, or both,] and seller of the

8-43 additional amount of tax due. [In addition to the additional amount

8-44 determined to be due,] If the additional amount of tax is not paid within

8-45 30 days after the date the buyer and seller are notified, the county

8-46 recorder shall impose a penalty of 10 percent of the additional amount due

8-47 in addition to interest at the rate of 1 [1/2] percent per month, or portion

8-48 thereof, of the additional amount due calculated from the date of the

8-49 original recordation of the deed on which the additional amount is due

9-1 through the date on which the additional amount due, penalty and interest

9-2 are paid to the county recorder.

9-3 4. This section does not prohibit a buyer and seller from agreeing by

9-4 contract or otherwise that one party or the other will be responsible for the

9-5 payment of the tax due pursuant to this chapter, but such an agreement

9-6 does not affect the ability of the county recorder to collect the tax and any

9-7 penalties and interest from either the buyer or the seller.

9-8 Sec. 28. NRS 375.090 is hereby amended to read as follows:

9-9 375.090 The tax imposed by NRS 375.020 and 375.025 does not apply

9-10 to:

9-11 1. [Any transaction wherein an interest in real property is encumbered

9-12 for the purposes of securing a debt.] A mere change in identity, form or

9-13 place of organization, such as a transfer between a corporation and its

9-14 parent corporation, a subsidiary or an affiliated corporation if the

9-15 affiliated corporation has identical common ownership.

9-16 2. A transfer of title to [or from] the United States, any territory or

9-17 state or any agency, department, instrumentality or political subdivision

9-18 thereof.

9-19 3. A transfer of title recognizing the true status of ownership of the real

9-20 property.

9-21 4. A transfer of title without consideration from one joint tenant or

9-22 tenant in common to one or more remaining joint tenants or tenants in

9-23 common.

9-24 5. A transfer of title to community property without consideration

9-25 when held in the name of one spouse to both spouses as joint tenants or

9-26 tenants in common, or as community property.

9-27 6. A transfer of title between spouses, including gifts.

9-28 7. A transfer of title between spouses to effect a property settlement

9-29 agreement or between former spouses in compliance with a decree of

9-30 divorce.

9-31 8. A transfer of title to or from a trust, if the transfer is made without

9-32 consideration [.] , and is made to or from:

9-33 (a) The trustor of the trust;

9-34 (b) The trustor’s legal representative; or

9-35 (c) A person related to the trustor in the first degree of

9-36 consanguinity.

9-37 As used in this subsection, “legal representative” has the meaning

9-38 ascribed to it in NRS 167.020.

9-39 9. Transfers, assignments or conveyances of unpatented mines or

9-40 mining claims.

9-41 10. A transfer, assignment or other conveyance of real property to a

9-42 corporation or other business organization if the person conveying the

9-43 property owns 100 percent of the corporation or organization to which the

9-44 conveyance is made.

9-45 11. A transfer, assignment or conveyance of real property if the owner

9-46 of the property is related to the person to whom it is conveyed within the

9-47 first degree of consanguinity.

9-48 12. The making, delivery or filing of conveyances of real property to

9-49 make effective any plan of reorganization or adjustment:

10-1 (a) Confirmed under the Bankruptcy Act, as amended, [Title 11 of

10-2 U.S.C.;] 11 U.S.C. §§ 101 et seq.;

10-3 (b) Approved in an equity receivership proceeding involving a railroad ,

10-4 as defined in the Bankruptcy Act; or

10-5 (c) Approved in an equity receivership proceeding involving a

10-6 corporation, as defined in the Bankruptcy Act , [; or

10-7 (d) Whereby a mere change in identity, form or place of organization is

10-8 effected, such as a transfer between a corporation and its parent

10-9 corporation, a subsidiary of an affiliated corporation,]

10-10 if the making, delivery or filing of instruments of transfer or conveyance

10-11 occurs within 5 years after the date of the confirmation, approval or

10-12 change.

10-13 13. The making or delivery of conveyances of real property to make

10-14 effective any order of the Securities and Exchange Commission if:

10-15 (a) The order of the Securities and Exchange Commission in obedience

10-16 to which the transfer or conveyance is made recites that the transfer or

10-17 conveyance is necessary or appropriate to effectuate the provisions of

10-18 section 11 of the Public Utility Holding Company Act of 1935, 15 U.S.C.

10-19 § 79k;

10-20 (b) The order specifies and itemizes the property which is ordered to be

10-21 transferred or conveyed; and

10-22 (c) The transfer or conveyance is made in obedience to the order.

10-23 14. A transfer to [or from] an educational foundation. As used in this

10-24 subsection, “educational foundation” has the meaning ascribed to it in

10-25 subsection 3 of NRS 388.750.

10-26 15. A transfer to [or from] a university foundation. As used in this

10-27 subsection, “university foundation” has the meaning ascribed to it in

10-28 subsection 3 of NRS 396.405.

10-29 16. A transfer, assignment or other conveyance of real property to a

10-30 corporation sole from another corporation sole. As used in this subsection,

10-31 “corporation sole” means a corporation which is organized pursuant to the

10-32 provisions of chapter 84 of NRS.

10-33 Sec. 29. NRS 375.100 is hereby amended to read as follows:

10-34 375.100 The county recorder shall refuse to record any deed or

10-35 conveyance upon which a tax is imposed by this chapter if the tax has not

10-36 been paid[.] and is not subject to liability for refusing to record a deed or

10-37 conveyance for which a tax imposed pursuant to this chapter has not

10-38 been paid.

10-39 Sec. 30. The provisions of subsection 1 of NRS 354.599 do not apply

10-40 to any additional expenses of a local government that are related to the

10-41 provisions of this act.

10-42 Sec. 31. 1. This section and sections 1 to 12, inclusive, and 24 to 30,

10-43 inclusive, of this act become effective on October 1, 2001.

10-44 2. Sections 13 to 23, inclusive, of this act become effective on

10-45 January 1, 2002.

10-46 ²⁰~~~~~⁰¹