A bill for an act relating to real estate transfer tax, including declarations of value.

This bill requires a signed declaration of value for most real estate property transfers when recording deeds, instruments, or writings with county recorders. It specifically exempts certain transactions from this requirement, including property transfers due to corporate mergers, family entity reorganizations (like partnerships or LLCs during formation/dissolution), and trust asset distributions to beneficiaries without payment. The policy directly affects sellers, buyers, and their agents during property sales by adding documentation steps for standard transfers while removing them from specific exempt scenarios. It does not change the real estate transfer tax rate or amount, only clarifying which transactions require a value declaration.