| SB 0774 | Establishes the lifetime home grant program which is funded by an additional $1 fee on real estate instruments |
| Sponsor: | Wheeler | |||
| LR Number: | 3166S.03C | Fiscal Note: | 3166-03 | |
| Committee: | Financial and Governmental Organization, Veterans' Affairs & Elections | |||
| Last Action: | 05/14/04 - S Inf Calendar S Bills for Perfection | Journal page: | ||
| Title: | SCS SB 774 & 915 | |||
| Effective Date: | August 28, 2004 | |||
SCS/SBs 774 & 915 - This act raises the recording fee on
certain real estate instruments from $3 to $6. From this
additional $3 fee, $1.50 will be placed in the Missouri
Housing Trust Fund (for a total of $4.50) and the remaining 50
cents shall be deposited in the recorder's fund. One dollar
of the fee increase will credited to the lifetime home grant
program which is established by this act. This fund shall be
administered by the Missouri Housing Development Commission.
Beginning January 1, 2005, individuals who build a universally
designed lifetime home may apply for a payment from the fund
in the amount of $5,000. This act also allows an individual
to qualify for a lifetime home grant, up to $5,000, by
renovating a qualified existing residence.
STEPHEN WITTE