Temporary recording fee: how it starts, changes, and ends

(a) Subject to the approval of the commissioner, the board may activate, reduce, or terminate the collection of a temporary recording fee as provided in this section. (b) The temporary recording fee shall be imposed on each document that is recorded with the bureau of conveyances or filed with the assistant registrar of the land court of the State. (c) If the board establishes or reactivates the temporary recording fee, the board shall: (1) Set the amount of the fee; provided that the amount shall not exceed $44 per document recorded with the bureau of conveyances or filed with the assistant registrar of the land court of the State; and (2) Establish the period of time during which the fee shall be collected; provided that the time period shall not exceed thirty-six months. (d) The temporary recording fee shall not apply to documents recorded or filed for parcels in the agricultural land use district pursuant to section 205-2. (e) Notwithstanding the amount or time period established under subsection (c)(1) or (2), the board at any time may: (1) Reduce the amount of the temporary recording fee; or (2) Terminate the collection of the temporary recording fee. (f) The temporary recording fee shall be submitted to and collected by the bureau of conveyances or the assistant registrar of the land court of the State. All proceeds realized from the collection of the fee shall be deposited into a separate account of the hurricane reserve trust fund. (g) The temporary recording fee shall be in addition to any applicable fees under chapter 501 or 502.