Legislation

Title: Recordation Tax - Indemnity Mortgage Exemption - Threshold Amount
Sponsored by: Delegate Attar
Status: Enacted under Article II, Section 17(c) of the Maryland Constitution - Chapter 800
Analysis: Fiscal and Policy Note (Revised)

Synopsis

Altering the threshold amount for certain indemnity mortgage transactions that are exempt from the recordation tax from less than $3,000,000 to less than $12,500,000; and applying the Act to instruments of writing recorded on or after July 1, 2024.

Committees

Original:: Ways and Means Click to view Recorded Media

Opposite:: Budget and Taxation

Committee Testimony

Witness List

Details

Cross-filed with: SB0476

Bill File Type: Regular

Effective Date(s): July 1, 2024

Bill imposes a local government mandate, which is a directive in a bill requiring a local government unit to perform a task or assume a responsibility that has a discernible fiscal impact on the local government unit

History

Legislation History
Chamber House Calendar Date 1/26/2023 Legislative Date 1/26/2023 Action First Reading Ways and Means Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Recordation Tax - Indemnity Mortgage Exemption - Threshold Amount Proceedings
Chamber House Calendar Date 2/01/2023 Legislative Date 2/01/2023 Action Hearing 2/14 at 1:00 p.m. Proceedings
Chamber Calendar Date Legislative Date Action Vote - House - Committee - Ways and Means Proceedings Click to view Recorded Media
Chamber House Calendar Date 4/07/2023 Legislative Date 4/07/2023 Action Favorable with Amendments Report by Ways and Means Proceedings
Chamber House Calendar Date 4/07/2023 Legislative Date 3/28/2023 Action Favorable with Amendments {613425/1 Adopted Proceedings 65 Click to view Recorded Media
Chamber House Calendar Date 4/07/2023 Legislative Date 3/28/2023 Action Second Reading Passed with Amendments Proceedings 65 Click to view Recorded Media
Chamber Calendar Date Legislative Date Action Text - Third - Recordation Tax - Authorization for Counties to Exempt Indemnity Mortgages Proceedings
Chamber House Calendar Date 4/08/2023 Legislative Date 3/30/2023 Action Third Reading Passed (140-0) Proceedings 67 Click to view Recorded Media
Chamber Senate Calendar Date 4/10/2023 Legislative Date 3/27/2023 Action Referred Rules Proceedings 64 Click to view Recorded Media
Chamber Senate Calendar Date 4/10/2023 Legislative Date 4/10/2023 Action Rereferred to Budget and Taxation Proceedings
Chamber Calendar Date Legislative Date Action Vote - Senate - Committee - Budget and Taxation Proceedings Click to view Recorded Media
Chamber Senate Calendar Date 4/10/2023 Legislative Date 4/10/2023 Action Favorable with Amendments Report by Budget and Taxation Proceedings
Chamber Senate Calendar Date 4/10/2023 Legislative Date 3/28/2023 Action Favorable with Amendments {333921/1 Adopted Proceedings 65 Click to view Recorded Media
Chamber Senate Calendar Date 4/10/2023 Legislative Date 3/28/2023 Action Second Reading Passed with Amendments Proceedings 65 Click to view Recorded Media
Chamber Senate Calendar Date 4/10/2023 Legislative Date 3/29/2023 Action Third Reading Passed (44-0) Proceedings 66 Click to view Recorded Media
Chamber House Calendar Date 4/10/2023 Legislative Date 4/03/2023 Action House Concurs Senate Amendments Proceedings 71 Click to view Recorded Media
Chamber House Calendar Date 4/10/2023 Legislative Date 4/03/2023 Action Third Reading Passed (136-0) Proceedings 71 Click to view Recorded Media
Chamber House Calendar Date 4/10/2023 Legislative Date 4/03/2023 Action Passed Enrolled Proceedings
Chamber Calendar Date Legislative Date Action Text - Enrolled - Recordation Tax - Indemnity Mortgage Exemption - Threshold Amount Proceedings
Chamber Post Passage Calendar Date 5/28/2023 Legislative Date 5/28/2023 Action Enacted under Article II, Section 17(c) of the Maryland Constitution - Chapter 800 Proceedings
Chamber Calendar Date Legislative Date Action Text - Chapter - Recordation Tax - Indemnity Mortgage Exemption - Threshold Amount Proceedings

Chamber	Calendar Date	Legislative Date	Action	Proceedings
House	1/26/2023	1/26/2023	First Reading Ways and Means
			Text - First - Recordation Tax - Indemnity Mortgage Exemption - Threshold Amount
House	2/01/2023	2/01/2023	Hearing 2/14 at 1:00 p.m.
			Vote - House - Committee - Ways and Means	Click to view Recorded Media
House	4/07/2023	4/07/2023	Favorable with Amendments Report by Ways and Means
House	4/07/2023	3/28/2023	Favorable with Amendments {613425/1 Adopted	65 Click to view Recorded Media
House	4/07/2023	3/28/2023	Second Reading Passed with Amendments	65 Click to view Recorded Media
			Text - Third - Recordation Tax - Authorization for Counties to Exempt Indemnity Mortgages
House	4/08/2023	3/30/2023	Third Reading Passed (140-0)	67 Click to view Recorded Media
Senate	4/10/2023	3/27/2023	Referred Rules	64 Click to view Recorded Media
Senate	4/10/2023	4/10/2023	Rereferred to Budget and Taxation
			Vote - Senate - Committee - Budget and Taxation	Click to view Recorded Media
Senate	4/10/2023	4/10/2023	Favorable with Amendments Report by Budget and Taxation
Senate	4/10/2023	3/28/2023	Favorable with Amendments {333921/1 Adopted	65 Click to view Recorded Media
Senate	4/10/2023	3/28/2023	Second Reading Passed with Amendments	65 Click to view Recorded Media
Senate	4/10/2023	3/29/2023	Third Reading Passed (44-0)	66 Click to view Recorded Media
House	4/10/2023	4/03/2023	House Concurs Senate Amendments	71 Click to view Recorded Media
House	4/10/2023	4/03/2023	Third Reading Passed (136-0)	71 Click to view Recorded Media
House	4/10/2023	4/03/2023	Passed Enrolled
			Text - Enrolled - Recordation Tax - Indemnity Mortgage Exemption - Threshold Amount
Post Passage	5/28/2023	5/28/2023	Enacted under Article II, Section 17(c) of the Maryland Constitution - Chapter 800
			Text - Chapter - Recordation Tax - Indemnity Mortgage Exemption - Threshold Amount

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