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What it is

Bill would make the bank pay the tax on first-home mortgages

Admitted step 2 of 7 · Unfinished

It is a members’ bill. Introduced by parliamentary groups, the Senate, regional governments or citizens. It was introduced on 7 November 2018. Introduced by: Grupo Parlamentario Popular en el Congreso.

Official title: Private member's bill amending the second paragraph of Article 31 of Royal Legislative Decree 1/1993, of September 24, approving the Consolidated Text of the Law on Transfers of Property and Documented Legal Acts.

Follow this law

Source: Congreso de los Diputados, file 122/000302· updated 11 Nov

Automatic summary, not yet reviewed

  1. The Supreme Court changed its position in October 2018 and said the bank should pay the mortgage tax, but on November 6, 2018 it went back to the earlier rule: the customer pays. That is why the Popular Party group proposes a legislative solution.
  2. The bill would amend Article 31 so that, in notarial deeds for mortgage-backed loans to buy a first home, the variable portion of the tax would be zero.
  3. The State would compensate the Autonomous Communities for the revenue they lose, using the average collections of the 3 years before the change as a reference.
  4. The law would take effect the day after its publication in the Official State Gazette, except for measures affecting the budget, which would wait until the next fiscal year.

Who it affects

  • People buying their first home: They would not have to pay the variable portion of the tax when signing the mortgage for their first home.
  • Autonomous Communities: They would lose revenue from this tax, though the State would compensate them.
  • Financial institutions: The bill clarifies that the customer pays the tax, but removes the variable portion for first homes.

Words worth knowing

Cuota variable (variable tax portion)
The part of the tax calculated as a percentage of the loan or property value.
Sujeto pasivo (taxpayer)
The person or entity legally required to pay a tax.
Préstamo con garantía hipotecaria (mortgage-backed loan)
Money lent by a bank and secured by the home: if the borrower does not pay, the bank can take the property.
ITP-AJD
Tax on Property Transfers and Documented Legal Acts, which applies to purchases and official documents such as notarial deeds.

It summarizes the text as it was introduced. It is written by artificial intelligence and may contain mistakes: the official text is what counts. Read the official text · How we make summaries

Where it stands

How far did it get?

It took 2 of 7 steps. It reached Admitted, and today it is unfinished.

  1. Introduced7 November 2018Someone registers the text in the Congreso.
  2. Admitted13 November 2018The Bureau of the Congreso accepts it and, for a members’ bill, the plenary decides whether to consider it.
  3. Amendmentsnot reachedGroups propose changes.
  4. Committeenot reachedA committee goes through the text in detail.
  5. Plenarynot reachedAll 350 deputies vote.
  6. Senatenot reachedThe Senate can pass it, amend it or veto it.
  7. BOEnot reachedIt is published in the Official State Gazette (BOE) and comes into force.
See the 6 official steps on a timeline
Nov 2018Dec 2018Jan 2019Feb 201911. 7 November 2018: Presentación22. 13 November 2018: Boletín Oficial de las Cortes Generales Publicación desde 13/11/2018 hasta 16/11/201833. 13 November 2018: Calificación44. 16 November 2018: Gobierno Contestación desde 16/11/2018 hasta 27/12/201855. 27 December 2018: Pleno Toma en consideración desde 27/12/2018 hasta 05/03/201966. 5 March 2019: Concluido - (Caducado) desde 05/03/2019 hasta 27/03/2019

Was there a plenary vote?

We have no plenary vote linked to this law in the Congreso’s data.

What happens next

What happens now?

The legislature ended before it finished. To go on, someone would have to introduce it again in the new Cortes.

It was presented again:

Sources

Where does all this come from?

  • The data comes from the open files of the Congreso, the Senate and the BOE, unaltered.
  • Each deputy’s province is the one of their seat on the day of the vote.
  • We only say “passed” or “rejected” when the majority needed is certain; otherwise we say which side had more votes.

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