1997 Regular Session

HOUSE BILL 1069

File Code: Recordation and Transfer Prior Year Introduction As: HB 510/93 - W&M
Sponsored By:
Delegates Healey and Rosapepe
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 interests 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; providing for interest and a penalty for specified filings; etc.

Legislative History

House Action
2/5
First Reading Ways and Means
2/12
Hearing 2/27 at 1:00 p.m.
Senate Action
No Action
Sponsored by:
Delegate Anne Healey, District 22A
Delegate James C. Rosapepe, District 21
Bill indexed under the following Subjects:
ASSESSMENTS AND TAXATION, DEPARTMENT OF
COMMERCE AND BUSINESS -see also- SMALL BUSINESS
CORPORATIONS -see also- MERGERS
FEES -see also- DEVELOPMENT FEES AND TAXES
INTEREST
PARTNERSHIPS
PENALTIES
REAL PROPERTY
RECORDATION -see also- TRANSFER TAX
REPORTS -see also- RECORDS
REVENUE AND TAXES -see also specific taxes -
RULES AND REGULATIONS
TRANSFER TAX -see also- RECORDATION
Bill affects the following Statutes:
Tax - Property
( 12-114 , 13-103 )

Documents:

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