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