2002 Regular Session

SENATE BILL 316

File Code: Taxes - Recordation and Transfer
Sponsored By:
Senators Frosh, Currie, Hogan, Neall, Ruben, and Van Hollen
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, other unincorporated form of doing business, or trust that owns interest in real property in Maryland that constitutes 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

Senate Action
1/25
First Reading Budget and Taxation
Hearing 2/13 at 1:30 p.m.
4/8
Unfavorable Report by Budget and Taxation
House Action
No Action
Sponsored by:
Senator Brian E. Frosh, District 16
Senator Ulysses Currie, District 25
Senator Patrick J. Hogan, District 39
Senator Robert R. Neall, District 33
Senator Ida G. Ruben, District 20
Senator Christopher Van Hollen, Jr., District 18
Bill indexed under the following Subjects:
ASSESSMENTS AND TAXATION, DEPARTMENT OF
CORPORATIONS -see also- MUNICIPAL CORPORATIONS
EXEMPTIONS
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
( 12-116 , 13-103 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled
Fiscal Note: Available (PDF)
Amendments: None offered