Legislation watch
2007 House Bill 4440 (Authorize Proposal A “pop up” exemption ) (House Roll Call 38)
Amendment offered by Rep. Kenneth Horn (R) on March 14, 2007, to NOT tie-bar the bill to House Bill 4441, meaning this bill could become law even if that one does not. HB 4441 would temporarily increase the real estate transfer tax. The amendment failed in the House (53 to 54) on March 14, 2007. [History, Amendments & Comments]
The vote was 53 in favor, 54 opposed, and 3 not voting
(House Roll Call 38 at House Journal 25)
[Comment on this vote | View others' comments]
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The following legislators supported the amendment:
The following legislators opposed the amendment:
The following legislators did not vote on the amendment:
| Dean (D) | Ebli (D) | Wojno (D) |
Most Recent Comments
1) You Are Right But [by Anonymous Citizen on April 4, 2007]the transfer tax Stays Up Forever.
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Either you or I have read the bill wrong. My reading of it tells me that if you buy during the 18 month period, it is like you are the previous owner. That is, after the 18 months, nothing happens. You prevent the pop-up for the entire time you own the house. What happens after the 18 month period only effects home purchasers after that. That is, if you buy a home after the 18 month period, then you get the pop-up. Am I wrong?
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If you read the "Other Voices" article in the April 2-8, 2007 Crain's Detroit Business by Michael Levan (page 9), assuming he is correct, there will be no decrease in tax to make up for. According to Levan, as the tax collections increase due to the pop-up, the millages go down so it is all budget neutral. Even more reason that Proposal A needs to be fixed. Not only do the new home owners have to pay substantially higher taxes, but they also subsidize the home owners who don't sell. Levan seems to have a good idea in how to fix things. The article is a must read if you are interested in this stuff.
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