2009 Regular Session

HOUSE BILL 824

File Code: Taxes - Recordation and Transfer
Sponsored By:
Montgomery County Delegation
Entitled:
Montgomery County - Recordation Tax - Indemnity Mortgages MC 926-09

Synopsis:

Providing that, for purposes of the recordation tax in Montgomery County, secured debt with respect to an indemnity mortgage, deeds of trust, or other security interests in real property securing a guarantee of repayment of a loan for which the guarantor is not primarily liable is deemed to be incurred as debt is incurred on the guaranteed loan, and the recordation tax applies as if the guarantor were primarily liable for the guaranteed loan; etc.

History by Legislative and Calendar Date

Legislative date is used to record history occurring in the Chambers otherwise Calendar date is used.
House Action
2/11
First Reading Ways and Means
2/18
Hearing 3/17 at 1:00 p.m.
3/9
Hearing cancelled
3/16
Unfavorable Report by Ways and Means Withdrawn
Senate Action
No Action

Bill indexed under the following Subjects:

Loans -see also- Mortgages
Montgomery County
Mortgages
Recordation
Revenue and Taxes -see also- Dev Fees & Taxes; specific tax.
Security Interests -see also- Liens; Mechanics` Liens

Bill affects the following Statute:

Tax - Property
( 12-105 )

Documents:

Bill Text (Displayed in PDF Format): First Reading, Third Reading, Enrolled
Fiscal and Policy Note (Displayed in PDF Format): Available
Amendments: None offered