1996 Regular Session

HOUSE BILL 246

File Code: Taxes - Miscellaneous
Sponsored By:
Delegates Minnick, DeCarlo, Holt, Ports, T. Murphy, Weir, Montague, and Mohorovic
Entitled:
State Transfer Tax - Exemption - Owner-Occupied Real Property

Synopsis:

Providing that $30,000 of the consideration payable for an instrument of writing for residentially improved owner-occupied real property is exempt from the State transfer tax under specified circumstances; and requiring that the exemption from the State transfer tax be applied against the transfer tax payment of a purchaser of real property unless the seller has contracted to pay the entire tax.

Legislative History

House Action
1/22
First Reading Ways and Means
1/24
Hearing 1/31 at 11:00 a.m.
Senate Action
No Action
Sponsored by:
Delegate Joseph J. Minnick, District 7
Delegate Diane DeCarlo, District 6
Delegate Kenneth Holt, District 6
Delegate Jacob J. Mohorovic, Jr., District 7
Delegate Kenneth C. Montague, Jr., District 43
Delegate Timothy D. Murphy, District 47A
Delegate James F. Ports, Jr., District 8
Delegate Michael H. Weir, District 6
Bill indexed under the following Subjects:
EXEMPTIONS
HOUSING -see also- APARTMENTS, MORTGAGES
TRANSFER TAX -see also- RECORDATION
Bill affects the following Statute:
Tax - Property
( 13-203 )

Documents:

Bill Text:
First Reading (PDF), Third Reading, Enrolled
Fiscal Note: Available (PDF)

Amendments: None available