HB 1921, sponsored by Rep. Noel Frame (D–Greenwood), would change the real estate excise tax (REET) rate based on the selling price of a property. The bill also proposes to follow the current REET distributions; but, following those distributions, the bill would divert 70 percent of remaining funds to the Housing Trust Fund. The general fund would get the final 30 percent.

Dates to remember

HB 1921 is scheduled for a hearing at 8 am on Tuesday, February 19 in the House Finance Committee.