Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more
Standard view
Full view
of .
Look up keyword
Like this
0 of .
Results for:
No results containing your search query
P. 1
Greg Diaz SB 391 Letter

Greg Diaz SB 391 Letter

Ratings: (0)|Views: 724|Likes:
Published by YubaNet
Op-Ed: Greg Diaz | Oppose SB 391 – California Homes and Jobs Act
Op-Ed: Greg Diaz | Oppose SB 391 – California Homes and Jobs Act

More info:

Published by: YubaNet on Apr 04, 2013
Copyright:Attribution Non-commercial


Read on Scribd mobile: iPhone, iPad and Android.
download as DOC, PDF, TXT or read online from Scribd
See more
See less





Nevada County Clerk-Recorder/ Registrar of Voters
County Clerk - Recorder
950 Maidu Avenue, Suite 210Nevada City, CA 95959Phone: (530) 265-1221Fax: (530) 265-9842
Gregory J. Diaz
County Clerk – Recorder
Gail Smith
Asst. County Clerk – Recorder
County Elections
950 Maidu Avenue, Suite 250Nevada City, CA 95959Phone: (530) 265-1298Fax: (530) 265 –9829
April 2, 2013Honorable Senator Ted GainesVice Chair Transportation and Housing CommitteeState Capitol, Room 2209Sacramento, CA 95814Re: SB 391 – California Homes and Jobs Act
To The Honorable Ted Gaines, Member, California State Senate:My name is Gregory J. Diaz and I am the Nevada County Clerk-Recorder. I am also Vice-President of the County Recorders’ Association of California. Our Association has formally opposedSenate Bill 391 which would enact the California Homes and Jobs Act of 2013, relating to the needfor permanent ongoing sources of funding dedicated to affordable housing development. The billwould impose a $75.00 fee on recorded documents.I am writing today to express my strong opposition to Senate Bill 391. Recorders agree withthe author’s policy concerns and the need to finance and build affordable housing, but we believethe funding mechanism is misdirected. This fee is per document - not per transaction. For example,a family with a primary loan and a line of credit refinancing to achieve a lower monthly paymentwould need to record, at a minimum, a Deed of Trust, Subordination, Substitution of Trustee andReconveyance. SB 391 would impose an additional $75 fee on
document recorded. In thisscenario, the family would pay an additional $300 in recording fees for a single transaction.SB 391 specifically exempts the imposition of the $75 fee on documents recorded “inconnection with” a real estate purchase or transfer. Therefore, SB 391 would exempt a person purchasing a million dollar home, yet the widow recording an affidavit of her husband’s death, acontractor recording a lien for unpaid services rendered, a family struggling to refinance a highinterest rate loan, or a miner recording his annual work assessments would be bearing the burden of funding this project. In addition, the exemption language is vague and likely to causeimplementation problems.SB 391 would place an undue burden on county recorders to deal with public inquires anddifferentiate what is considered “in connection with a transfer”. If there is an assignment or financial

You're Reading a Free Preview

/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->