2002 Regular Session

HOUSE BILL 557

File Code: Taxes - Recordation and Transfer Prior Year Introduction As: HB 1100/98 - W&M
Sponsored By:
Delegates Healey, Bozman, Heller, Conroy, Phillips, Hixson, Shriver, and C. Davis
Entitled:
Recordation and Transfer Taxes - Transfers of Controlling Interests

Synopsis:

Imposing recordation and transfer taxes on the transfer of controlling interest in a corporation, partnership, association, limited liability company, limited liability partnership, other unincorporated form of doing business, or a trust that owns interests in real property in Maryland that constitute at least 80% of the value of its assets and has an aggregate value of at least $500,000; establishing the rate of taxation and the method of calculation of tax liability; exempting specified transfers; etc.

History by Legislative Date

House Action
2/1
First Reading Ways and Means
2/6
Hearing 2/20 at 1:00 p.m.
3/22
Favorable with Amendments Report by Ways and Means
Favorable with Amendments Report Adopted
Special Order 3/23 (Delegate Malone) Adopted
3/23
Floor Amendment (Delegate Malone) Adopted
Special Order after Special Order calendar (Delegate Brinkley) Adopted
Special Order later today (Delegate Brinkley) Adopted
Floor Amendment (Delegate Brinkley)
Special Order later today (Delegate Brinkley) Adopted
Floor Amendment (Delegate Brinkley) Rejected (39-84)
Second Reading Passed with Amendments
3/24
Motion vote previous question (Delegate Moe) Adopted
Third Reading Passed (90-39)
Senate Action
3/26
First Reading Budget and Taxation
Hearing 3/29 at 1:30 p.m.
4/6
Unfavorable Report by Budget and Taxation
Sponsored by:
Delegate Anne Healey, District 22A
Delegate K. Bennett Bozman, District 38
Delegate Mary A. Conroy, District 23
Delegate Clarence Davis, District 45
Delegate Henry B. Heller, District 19
Delegate Sheila E. Hixson, District 20
Delegate Wendell F. Phillips, District 41
Delegate Mark K. Shriver, District 15
Bill indexed under the following Subjects:
ASSESSMENTS AND TAXATION, DEPARTMENT OF
ASSOCIATIONS -see also- COOPERATIVE ASSOCIATIONS
CONTINUING CARE -see also- LONG TERM CARE; NURSING HOMES
CORPORATIONS -see also- MUNICIPAL CORPORATIONS
ESTATES AND TRUSTS
FEES -see also- DEVELOPMENT FEES AND TAXES
INTEREST
LIMITED LIABILITY COMPANIES
PARTNERSHIPS
PENALTIES
REAL PROPERTY
RECORDATION
REPORTS
REVENUE AND TAXES -see also- DEV FEES & TAXES; specific tax.
RULES AND REGULATIONS
TRANSFER TAX
Bill affects the following Statutes:
Tax - Property
( 12-110 , 12-116 , 13-103 , 13-209 )

Documents:

Bill Text: First Reading (PDF), Third Reading (PDF), Enrolled
Fiscal Note: Available (PDF)
Amendments:
House
Number: 025061/1 (PDF)     Offered on: March 22, 2002   at: 1:15 p.m.     Status: Adopted
Number: 403925/1 (PDF)     Offered on: March 23, 2002   at: 12:23 p.m.     Status: Adopted
Number: 473522/1 (PDF)     Offered on: March 23, 2002   at: 3:31 p.m.     Status: Rejected
Roll Call Votes (Legislative dates are shown):
House
March 23, 2002: Floor Amendment (Brinkley) {473522/1 Rejected (39-84)
March 24, 2002: Third Reading Passed (90-39)