The California Senate has approved a bill that would impose a $75 fee to record real estate documents that are not connected with the transfer of property and already subject to a documentary transfer tax.

SB 391, the California Homes and Jobs Act of 2013, would raise about $300 million to $720 million a year for the development, acquisition, rehabilitation and preservation of homes affordable to low- and moderate-income households. The bill is aimed at replacing about $1 billion a year in property tax revenues that redevelopment agencies formerly provided to affordable housing funds.

If approved by the Assembly and signed into law, SB 391 would apply to most documents not associated with property sales, including deeds and grant deeds, trustees deeds and deeds of trust, quitclaim deeds, reconveyances, easements, maps, lot line adjustments, CC&Rs, notices of default, notices of trustee sale, liens, and leases.

The California Association of Realtors is opposed to the bill, and has protested that it’s been linked to another bill, SB 30, that would extend a state law that protects homeowners from having to pay income tax on short sales. Source:

Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription