HOUSE BILL 353

File Code: Taxes - Recordation and Transfer

Sponsored By:

Delegate Finifter

Entitled:

Recordation Tax and State and County Transfer Taxes - Exemption for Transfer to Subsidiary Limited Liability Company

Synopsis:

Providing an exemption from recordation tax and State and county transfer taxes for an instrument of writing that transfers real property from a parent partnership or limited liability company to a subsidiary limited liability company under specified circumstances.

History by Legislative Date

House Action

1/30

First Reading Ways and Means

2/14

Hearing 3/1 at 1:00 p.m.

3/12

Unfavorable Report by Ways and Means

Senate Action

No Action

Bill indexed under the following Subjects:

EXEMPTIONS

LIMITED LIABILITY COMPANIES

LOCAL GOVERNMENT MANDATES

PARTNERSHIPS

REAL PROPERTY

RECORDATION

REVENUE AND TAXES -see also- DEV FEES & TAXES; specific tax.

TRANSFER TAX

Bill affects the following Statutes:

Tax - Property

( 12-108 , 13-207 , 13-207 , 13-405 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled

Fiscal Note: Available (PDF)

Amendments: None offered