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2007 Regular Session bill information current as of October 3, 2007 - 11:21 p.m.
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SENATE BILL 616

File Code: Taxes - Recordation and Transfer
Prior Year Introduction As: SB 120/03

Sponsored By:
Senators Currie, Frosh, Middleton, Conway, Astle, Britt, Edwards, Exum, Forehand, Gladden, Hooper, Jones, Klausmeier, Lenett, Madaleno, McFadden, Muse, Pinsky, Pugh, Raskin, Robey, and Rosapepe

Entitled:
Land Preservation and School Construction Assistance Act of 2007

Synopsis:

Imposing recordation and transfer taxes on the transfer of controlling interest in a corporation, partnership, association, limited liability company, limited liability partnership, other unincorporated form of doing business, or a trust that owns interests in real property in Maryland that constitute at least 80% of the value of its assets and has an aggregate value of at least $500,000; etc.

History by Legislative and Calendar Date Explain Legislative Date and Calendar Date

Senate Action
2/2
First Reading Budget and Taxation
2/21
Hearing 3/14 at 1:00 p.m.
House Action
No Action

Sponsored by:

Senator Ulysses Currie, District 25
Senator John C. Astle, District 30
Senator Gwendolyn Britt, District 47
Senator Joan Carter Conway, District 43
Senator George C. Edwards, District 1
Senator Nathaniel Exum, District 24
Senator Jennie M. Forehand, District 17
Senator Brian E. Frosh, District 16
Senator Lisa A. Gladden, District 41
Senator J. Robert Hooper, District 35
Senator Verna L. Jones, District 44
Senator Katherine Klausmeier, District 8
Senator Mike Lenett, District 19
Senator Richard S. Madaleno, Jr., District 18
Senator Nathaniel J. McFadden, District 45
Senator Thomas M. Middleton, District 28
Senator C. Anthony Muse, District 26
Senator Paul G. Pinsky, District 22
Senator Catherine E. Pugh, District 40
Senator Jamie Raskin, District 20
Senator James N. Robey, District 13
Senator Jim Rosapepe, District 21

Bill indexed under the following Subjects:

Assessments and Taxation, Department of
Associations -see also- Cooperative Associations
Construction
Corporations -see also- Municipal Corps; Public Corps & Inst
Counties -see also- Chartered Counties; Code Counties
Exemptions
Fees -see also- Devt Fees and Taxes; Reimbursement Rates
Interest
Limited Liability Companies
Local Government Mandates
Mergers and Acquisitions
Partnerships
Penalties
Public Schools
Real Estate Investment Trusts
Real Property
Recordation
Reports
Revenue and Taxes -see also- Dev Fees &Taxes; specific tax
Rules and Regulations
Transfer Tax

Bill affects the following Statutes:

Tax - Property
( 12-110 , 12-110 , 12-116 , 13-103 , 13-209 )

Documents:

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

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

Amendments: None offered


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