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Greg Diaz SB 391 Letter

Greg Diaz SB 391 Letter

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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

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Published by: YubaNet on Apr 04, 2013
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07/10/2013

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Nevada County Clerk-Recorder/ Registrar of Voters
County Clerk - Recorder
950 Maidu Avenue, Suite 210Nevada City, CA 95959Phone: (530) 265-1221Fax: (530) 265-9842
mynevadacounty.com/nc/recorder 
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
mynevadacounty.com/nc/elections
April 2, 2013Honorable Senator Ted GainesVice Chair Transportation and Housing CommitteeState Capitol, Room 2209Sacramento, CA 95814Re: SB 391 – California Homes and Jobs Act
OPPOSE
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
every
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

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