HOUSE BILL 1

File Code: Taxes - Recordation and Transfer

Sponsored By:

The Speaker and Delegates Hixson, Conway, Healey, Barkley, Benson, Bobo, Bromwell, Bronrott, Busch, Cadden, Cane, G. Clagett, V. Clagett, Conroy, Cryor, D. Davis, DeBoy, Doory, Dumais, Franchot, Goldwater, Griffith, Harrison, Howard, Hurson, James, Jones, Kaiser, Kelley, King, Kirk, Krysiak, Lee, Love, Madaleno, Malone, Mandel, Marriott, McHale, McIntosh, Menes, Minnick, Moe, Montgomery, Pendergrass, Proctor, Quinter, Ramirez, Rosenberg, Sophocleus, Taylor, V. Turner, Vallario, Vaughn, Aumann, Edwards, Hammen, Stocksdale, F. Turner, and Hubbard

Entitled:

Public School Construction Assistance Act of 2004

Synopsis:

Imposing recordation and transfer taxes on the transfer of controlling interest in an entity that owns interests in real property in Maryland that constitute at least 80% of the value of the entity's assets and have an aggregate value of at least $1,000,000; requiring specified local recordation tax revenues and specified State transfer tax revenues for fiscal 2005 through 2008 to be dedicated to public school construction and renovation; etc.

History by Legislative Date

House Action

11/17

Pre-filed

1/14

First Reading Ways and Means

1/23

Re-assigned Ways and Means & Appropriations

2/11

Hearing 2/26 at 11:00 a.m.

3/15

Favorable with Amendments Report by Ways and Means

3/16

Favorable with Amendments Report Adopted

Special Order 3/17 (Delegate McMillan) Adopted

3/17

Floor Amendment (Delegate Hubbard) Adopted

Second Reading Passed with Amendments

3/19

Third Reading Passed (124-17)

Senate Action

3/22

First Reading Budget and Taxation

3/24

Hearing 4/1 at 1:00 p.m.

Sponsored by:

Speaker of the House of Delegates

Delegate Susan L. M. Aumann, District 42

Delegate Charles Barkley, District 39

Delegate Joanne C. Benson, District 24

Delegate Elizabeth Bobo, District 12B

Delegate Eric M. Bromwell, District 8

Delegate William A. Bronrott, District 16

Delegate Michael E. Busch, District 30

Delegate Joan Cadden, District 31

Delegate Rudolph C. Cane, District 37A

Delegate Virginia P. Clagett, District 30

Delegate Galen R. Clagett, District 3A

Delegate Mary A. Conroy, District 23A

Delegate Norman H. Conway, District 38B

Delegate Jean B. Cryor, District 15

Delegate Dereck E. Davis, District 25

Delegate Steven J. DeBoy, Sr., District 12A

Delegate Ann Marie Doory, District 43

Delegate Kathleen M. Dumais, District 15

Delegate George C. Edwards, District 1A

Delegate Peter Franchot, District 20

Delegate Marilyn R. Goldwater, District 16

Delegate Melony G. Griffith, District 25

Delegate Peter A. Hammen, District 46

Delegate Hattie N. Harrison, District 45

Delegate Anne Healey, District 22

Delegate Sheila E. Hixson, District 20

Delegate Carolyn J. B. Howard, District 24

Delegate James W. Hubbard, District 23A

Delegate John Adams Hurson, District 18

Delegate Mary-Dulany James, District 34A

Delegate Adrienne A. Jones, District 10

Delegate Anne R. Kaiser, District 14

Delegate Darryl A. Kelley, District 26

Delegate Nancy J. King, District 39

Delegate Ruth M. Kirk, District 44

Delegate Carolyn J. Krysiak, District 46

Delegate Susan C. Lee, District 16

Delegate Mary Ann E. Love, District 32

Delegate Richard S. Madaleno, Jr., District 18

Delegate James E. Malone, Jr., District 12A

Delegate Adrienne A. Mandel, District 19

Delegate Salima Siler Marriott, District 40

Delegate Brian K. McHale, District 46

Delegate Maggie McIntosh, District 43

Delegate Pauline H. Menes, District 21

Delegate Joseph J. Minnick, District 6

Delegate Brian R. Moe, District 21

Delegate Karen S. Montgomery, District 14

Delegate Shane E. Pendergrass, District 13

Delegate James E. Proctor, Jr., District 27A

Delegate Neil F. Quinter, District 13

Delegate Victor R. Ramirez, District 47

Delegate Samuel I. Rosenberg, District 41

Delegate Theodore Sophocleus, District 32

Delegate Nancy R. Stocksdale, District 5A

Delegate Herman L. Taylor, Jr., District 14

Delegate Frank S. Turner, District 13

Delegate Veronica Turner, District 26

Delegate Joseph F. Vallario, Jr., District 27A

Delegate Michael L. Vaughn, District 24

Bill indexed under the following Subjects:

ASSESSMENTS AND TAXATION, DEPARTMENT OF

ASSOCIATIONS -see also- COOPERATIVE ASSOCIATIONS

CONSTRUCTION

CONTINUING CARE -see also- LONG TERM CARE; NURSING HOMES

CORPORATIONS -see also- MUNICIPAL CORPORATIONS

COUNTIES -see also- CHARTERED COUNTIES; CODE COUNTIES

EXEMPTIONS

FEES -see also- DEVELOPMENT FEES AND TAXES

INTEREST

LIMITED LIABILITY COMPANIES

LOCAL GOVERNMENT MANDATES

MERGERS AND ACQUISITIONS

PARTNERSHIPS

PENALTIES

PUBLIC SCHOOLS

REAL ESTATE INVESTMENT TRUSTS

REAL PROPERTY

RECORDATION

REPORTS

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

RULES AND REGULATIONS

SECURITIES

STATE AID

TRANSFER TAX

Bill affects the following Statutes:

Tax - Property

( 12-110 , 12-110 , 12-116 , 13-103 , 13-209 )

Documents:

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

Fiscal Note: Available (PDF)

Amendments:

House

Number: 195965/01 (PDF)     Offered on: March 16, 2004   at: 11:51 a.m.     Status: Adopted

Number: 663929/01 (PDF)     Offered on: March 17, 2004   at: 11:20 a.m.     Status: Adopted

Roll Call Vote (Legislative date is shown):

House

March 19, 2004: Third Reading Passed (124-17)