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S 7128

Extends certain provisions authorizing the county of Hamilton to impose a county recording tax on obligations secured by mortgages on real property

2025 Regular Session Introduced by Mark Walczyk

Bill S 7128 allows Hamilton County to continue imposing a recording tax on mortgages, ensuring vital funding for local services while impacting property owners' costs.

SIGNED CHAP.306
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WeVote Research Nonpartisan
Bill Summary · S 7128

Summary of Bill S 7128

Bill Overview

  • Bill Number: S 7128
  • Title: Extends certain provisions authorizing the county of Hamilton to impose a county recording tax on obligations secured by mortgages on real property
  • Status: Signed into law as Chapter 306
  • Introduced: April 1, 2025

Purpose and Intent

The primary purpose of Bill S 7128 is to extend the authority of Hamilton County to impose a recording tax on mortgages secured by real property. This extension aims to provide the county with a continued revenue stream that can be utilized for various local government functions and services.

Key Provisions

  • Extension of Authority: The bill extends the existing provisions that allow Hamilton County to levy a recording tax on mortgage obligations. This tax is typically applied when a mortgage is recorded in the county's official records.
  • Tax Rate and Structure: While the specific tax rate is not detailed in the bill summary, it is expected to follow the existing framework established in prior legislation.
  • Duration of Extension: The bill specifies the duration for which this authority is extended, ensuring that the county can continue to benefit from this tax without interruption.

Affected Parties

  • Hamilton County Government: The primary beneficiary of this bill is the local government of Hamilton County, which will gain continued access to funds generated from the recording tax.
  • Property Owners and Borrowers: Individuals and entities securing mortgages on real property in Hamilton County will be subject to this tax, which may affect their overall borrowing costs.

Legislative Timeline

  • April 1, 2025: Bill introduced and referred to the Committee on Investigations and Government Operations.
  • May 27, 2025: Passed in the Senate and delivered to the Assembly.
  • June 17, 2025: Passed in the Assembly and returned to the Senate.
  • August 4, 2025: Delivered to the Governor for approval.
  • August 7, 2025: Signed into law as Chapter 306.

Related Legislation

  • A 7713: This is the companion bill in the Assembly that corresponds with S 7128.
  • S 7430: A related bill from the prior legislative session that may have addressed similar issues.

Conclusion

Bill S 7128 is a significant piece of legislation for Hamilton County, ensuring the continuation of a recording tax on mortgages. This tax is crucial for local funding and will impact property owners and borrowers in the county. The successful passage and signing of this bill reflect the ongoing legislative efforts to support local government financing through established tax mechanisms.

Compiled from official sources — confirm details with the bill’s official record.

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