2003 Regular Session

SENATE BILL 120

File Code: Taxes - Recordation and Transfer Prior Year Introduction As: HB 557/02 - W&M Crossfiled with: HOUSE BILL 19
Sponsored By:
Senators Miller, Frosh, Middleton, Hollinger, and Currie
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, limited liability partnership, other unincorporated form of doing business, or a trust that owns interests in real property in Maryland that constitute 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; etc.

History by Legislative Date

Senate Action
1/23
First Reading Budget and Taxation
1/24
Hearing 2/5 at 1:30 p.m.
House Action
No Action
Sponsored by:
Senator Thomas V. Mike Miller, Jr., District 27
Senator Ulysses Currie, District 25
Senator Brian E. Frosh, District 16
Senator Paula C. Hollinger, District 11
Senator Thomas M. Middleton, District 28
Bill indexed under the following Subjects:
ASSESSMENTS AND TAXATION, DEPARTMENT OF
ASSOCIATIONS -see also- COOPERATIVE ASSOCIATIONS
CORPORATIONS -see also- MUNICIPAL CORPORATIONS
EXEMPTIONS
FEES -see also- DEVELOPMENT FEES AND TAXES
INTEREST
LIMITED LIABILITY COMPANIES
PARTNERSHIPS
PENALTIES
REAL ESTATE INVESTMENT TRUSTS
REAL PROPERTY
RECORDATION
REPORTS
REVENUE AND TAXES -see also- DEV FEES & TAXES; specific tax.
RULES AND REGULATIONS
TRANSFER TAX
Bill affects the following Statutes:
Tax - Property
( 12-110 , 12-116 , 13-103 , 13-209 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled
Fiscal Note: Available (PDF)
Amendments: None offered