Senate Bill (SB) 2 - Affordable Housing and Jobs Act
Senate Bill (SB) 2 - Affordable Housing and Jobs Act
Effective January 1, 2018, pursuant to Senate Bill 2, the Affordable Housing and Jobs Act, was passed by the California legislation. SB 2 requires documents submitted for recording to the Recorder's Office to possibly pay an additional $75 fee as follows:
A fee of seventy-five dollars ($75) shall be paid at the time of recording of every real estate instrument, paper, or notice required or permitted by law to be recorded, except those expressly exempted from payment of recording fees, per each single transaction per parcel of real property. The fee imposed by this section shall not exceed two hundred twenty-five dollars ($225).
This fee will be calculated per document, with a maximum of $225 based on the number of documents and titles.
The fee shall not be imposed on any real estate instrument, paper, or notice recorded in connection with a transfer subject to the imposition of a documentary transfer tax as defined in Section 11911 of the Revenue and Taxation Code or on any real estate instrument, paper, or notice recorded in connection with a transfer of real property that is a residential dwelling to an owner-occupier.
A declaration of valid exemption may be placed on the face of each document, or on a document cover page, which shall become part of the document, prior to depositing with the Recorder. If no valid exemption is declared, the fee will be assessed.
This requirement is being made in accordance with the legislative amendment of Government Code § 27388.1.
Click here for a memo regarding the SB2 exemption options.
Click here for a sample cover sheet with the SB2 exemptions on it.