HOUSE BILL 959

Sponsored By:

Delegates Barve, Branch, Luedtke, Cardin, and Walker

Entitled:

Recordation and Transfer Taxes - Transfer of Property Between Related Entities - Exemption

Synopsis:

Exempting from the recordation tax and the State transfer tax the transfer of real property between a parent partnership or limited liability company and its subsidiary or between subsidiaries wholly owned by the same parent partnership or limited liability company under specified circumstances; and exempting from the recordation tax and the State transfer tax the transfer of real property between specified entities under specified circumstances.

History by Legislative and Calendar Date

House Action

2/10

First Reading Ways and Means

2/15

Hearing 3/7 at 1:00 p.m.

3/22

Favorable with Amendments Report by Ways and Means

3/20

Favorable with Amendments {735868/1 Report Adopted

Second Reading Passed with Amendments

3/22

Third Reading Passed (138-0)

Senate Action

3/22

First Reading Budget and Taxation

3/28

Hearing 4/3 at 1:30 p.m.

Sponsored by:

Delegate Kumar P. Barve, District 17

Delegate Talmadge Branch, District 45

Delegate Jon S. Cardin, District 11

Delegate Eric G. Luedtke, District 14

Delegate Jay Walker, District 26

Bill indexed under the following Subjects:

Exemptions

Limited Liability Companies

Partnerships

Real Property

Recordation

Revenue and Taxes -see also- Dev Fees &Taxes; specific tax

Transfer Tax

Bill affects the following Statutes:

Tax - Property

( 12-108 , 13-207 )

Documents

Bill Text: First Reading, Third Reading, Enrolled

Fiscal and Policy Note: Available

Amendments:

House

Number: 735868/01     Offered on: March 23, 2012   at: 4:18 p.m.     Status: Adopted

Committee Votes :

House

Ways and Means

Roll Call Vote (Legislative date is shown):

House

March 22, 2012: Third Reading Passed (138-0)