HARRY HUGHES, Governor

2259

(2)  Six percent of the value of the
consideration for any transfer of real property which, after
the effective date of any such rate of tax has been rezoned
to a more intensive use at the instance of the transferor or
transferee, excluding the value of improvements constructed
after such rezoning; or

(3)  FOUR PERCENT OF THE VALUE OF THE
CONSIDERATION FOR THE INITIAL TRANSFER OF A RESIDENTIAL UNIT
SUBJECT TO A CONDOMINIUM REGIME OFFERED FOR RENT FOR
RESIDENTIAL PURPOSES PRIOR TO THE ESTABLISHMENT OF THE
CONDOMINIUM REGIME. THE TAX SHALL BE PAID BY THE INITIAL
TRANSFEROR OF THE RESIDENTIAL UNIT. THE TAX SHALL BE IN
ADDITION TO THE TAX PROVIDED IN PARAGRAPH (4) OF THIS
SUBSECTION; OR

[(3)] (4) One percent of the value of the
consideration for any other transfer.

(b)  No transfer of any interest in such property shall
be taxed hereunder where the transfer is to any nonprofit
hospital or nonprofit religious or charitable organization,
association or corporation, nor to any municipal, county or
State government, or instrumentalities, agencies or
political subdivisions thereof; provided, that no exemption
shall be granted hereunder to a transfer under paragraph
(a)(1) of this section unless the transferor is a nonprofit
hospital or nonprofit religious or charitable organization,
association or corporation, or a municipal, county or State
government, or instrumentality, agency or political
subdivision thereof. THE COUNTY COUNCIL MAY PROVIDE FOR ANY
ADDITIONAL EXEMPTIONS FROM THE PROVISIONS OF THIS SECTION.

(c)  No tax levied pursuant to this section shall apply
to transfers pursuant to contracts or agreements entered
into prior to the effective date of such tax.

(d)  The county council is further empowered and
authorized to fix a penalty not in excess of one thousand
dollars or imprisonment not exceeding six months, or both
such fine and imprisonment, for violation of the provisions
of any resolution or ordinance of the county council adopted
pursuant to this section.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1980.

Approved May 20, 1980.

CHAPTER 649
(House Bill 1533)