SENATE BILL 379

Sponsored By:

Senator Frosh

Entitled:

Real Property Entities - Transfers of Controlling Interests - Reporting and Notice Requirements

Synopsis:

Requiring specified entities that own specified interests in real property in Maryland to report to the State Department of Assessments and Taxation the amount of consideration paid for transfers of controlling interests in the entities; specifying the manner in which the reported consideration must be calculated; requiring a specified entity to file a report of a transfer of a controlling interest in the entity with the Department; requiring the report to include specified information; etc.

History by Legislative Date

Senate Action

2/4

First Reading Judicial Proceedings

2/11

Hearing 2/17 at 1:00 p.m.

House Action

No Action

Bill indexed under the following Subjects:

ASSESSMENTS AND TAXATION, DEPARTMENT OF

ASSOCIATIONS -see also- COOPERATIVE ASSOCIATIONS

CORPORATIONS -see also- MUNICIPAL CORPORATIONS

ESTATES AND TRUSTS

FEES -see also- DEVELOPMENT FEES AND TAXES

LIMITED LIABILITY COMPANIES

MERGERS AND ACQUISITIONS

NOTICES

PARTNERSHIPS

REAL PROPERTY

REPORTS

RULES AND REGULATIONS

SECURITIES

Bill affects the following Statutes:

Corporations and Associations

( 1-203 , 1-407 )

Documents:

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

Fiscal Note: Available (PDF)

Amendments: None offered