Md. Code, TP§ 12-119

Current with changes from the 2024 Legislative Session

Section 12-119 - Report

On or before July 1, 2025, and each July 1 thereafter, the collector or the clerk of the circuit court for the county, whichever is designated to collect recordation tax for the county, shall submit a report, in accordance with § 2-1257 of the State Government Article, to the Senate Budget and Taxation Committee and the House Ways and Means Committee that includes, for the immediately preceding fiscal year:

(1) the total number of indemnity mortgages recorded that were exempt from recordation tax under § 12-105(f)(7)(iii) 2 of this title;

(2) the amount of debt secured by each indemnity mortgage that was exempt from recordation tax under § 12-105(f)(7)(iii) 2 of this title; and

(3) the amount of recordation tax revenue forgone due to the indemnity mortgage exemption from recordation tax under § 12-105(f)(7)(iii) 2 of this title.

Md. Code, TP§ 12-119

Added by 2023 Md. Laws, Ch. 800, Sec. 1, eff. 7/1/2024.