SENATE BILL 641

Sponsored By:

Senator Raskin

Entitled:

Condominiums - Conversion of Rental Facilities - Extended Leases - Property Tax Credit

Synopsis:

Increasing from 3 to 5 years the minimum period of an extended lease that a developer converting a rental facility to a condominium is required to offer specified households; authorizing a county or municipal corporation to grant, by law, a property tax credit against the county or municipal corporation property tax imposed on residential real property owned by a developer that converts a residential rental facility to a condominium and offers extended leases to tenants of the residential rental facility; etc.

History by Legislative and Calendar Date

Senate Action

2/2

First Reading Judicial Proceedings & Budget and Taxation

2/7

Hearing 2/20 at 1:00 p.m.

House Action

No Action

Bill indexed under the following Subjects:

Condominiums

Counties -see also- Chartered Counties; Code Counties

Disabilities -see also- Blind; Deaf; Developmental

Elderly Persons

Landlord and Tenant -see also- Eviction; Leases & Rent; etc.

Leases and Rent

Municipal Corporations -see also- Annap; Balt; Hager; OC

Notices

Property Tax

Tax Credits -see also- Circuit Breaker

Bill affects the following Statutes:

Real Property

( 11-102.1 , 11-137 , 11-140 )

Tax - Property

( 9-246 )

Documents:

Bill Text (Displayed in PDF Format): First Reading, Third Reading, Enrolled

Fiscal and Policy Note (Displayed in PDF Format): Available

Amendments: None offered