HB1226 (CH0224)

Find a 2016 Bill:

2016 Regular Session

 

Entitled:

Recordation and Transfer Taxes - Transfer of Controlling Interest - Exemptions

Sponsored by:

Delegate Washington, A.

Status:

Approved by the Governor - Chapter 224


Synopsis:Altering a specified exemption from recordation and transfer taxes so as to provide that a transfer of a controlling interest in a real property entity is not subject to recordation and transfer taxes if the transfer of the real property owned by the real property entity between the same transferor and transferee of the controlling interest under the same circumstances would have been exempt under specified provisions of law; etc.
Analysis:Fiscal and Policy Note (Revised)
All Sponsors:Delegate A. Washington
Additional Facts:Cross-filed with: SB0597
Bill File Type: Regular
Effective Date(s): July 1, 2016
Bill imposes a local government mandate which is a directive in a bill requiring a local government unit to perform a task or assume a responsibility that has a discernible fiscal impact on the local government unit
Committee(s):
Ways and Means  View Committee HearingBudget and Taxation  View Committee Hearing
Broad Subject(s):Taxes - Recordation and Transfer
Narrow Subject(s):Associations -see also- Cooperative Associations
Business Trusts
Corporations -see also- Municipal Corps; Public Corps & Inst
Exemptions
Interest
Limited Liability Companies
Partnerships
Real Property
Recordation
Transfer Tax
Statutes:Article - Tax - Property
(12-117, 13-103)

How a Bill Becomes Law

Legislative Lingo

Explanation of Floor Motions and Actions


October 24, 2017 5:05 P.M.