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ROBERT L. EHRLICH, JR., Governor Ch. 373
record and recorded in the County. Conveyances to the State, any agency of the State,
or any political Subdivision of the State shall not be subject to the tax imposed under
this Section.
(B) (4) (A) SUBJECT TO THE PROVISIONS OF SUBPARAGRAPHS (B), (C), AND
(D) OF THIS PARAGRAPH, THE TAX AUTHORIZED UNDER SUBSECTION (A) OF THIS
SECTION DOES NOT APPLY TO THE FOR A SALE OF IMPROVED RESIDENTIAL REAL
PROPERTY TO A PRINCE GEORGE'S COUNTY POLICE OFFICER OR A MUNICIPAL
POLICE OFFICER WHO OPERATES IN PRINCE GEORGE'S COUNTY WHO WILL OCCUPY
THE PROPERTY AS A PRINCIPAL RESIDENCE;
(I) THE TRANSFER TAX AUTHORIZED UNDER SUBSECTION (A) OF
THIS SECTION DOES NOT APPLY TO THE POLICE OFFICER'S FIRST PURCHASE OF
RESIDENTIAL REAL PROPERTY IN MARYLAND THAT IS LOCATED IN PRINCE GEORGE'S
COUNTY; AND
(II) THE RATE OF THE TRANSFER TAX AUTHORIZED UNDER
SUBSECTION (A) OF THIS SECTION MAY NOT EXCEED 1.0% FOR THE POLICE
OFFICER'S SECOND OR SUBSEQUENT PURCHASE IN PRINCE GEORGE'S COUNTY.
(B) IF THERE ARE TWO OR MORE GRANTEES, THE AN EXEMPTION
OR RATE REDUCTION UNDER THIS PARAGRAPH APPLIES IF AT LEAST ONE GRANTEE
IS A PRINCE GEORGE'S COUNTY POLICE OFFICER OR A MUNICIPAL POLICE OFFICER
WHO OPERATES IN PRINCE GEORGE'S COUNTY.
(C) TO QUALIFY FOR THE AN EXEMPTION OR RATE REDUCTION
UNDER THIS PARAGRAPH, AT LEAST ONE GRANTEE, OTHER THAN A COMAKER OR
GUARANTOR, MUST:
(I) OCCUPY THE RESIDENCE AS THE GRANTEE'S PRINCIPAL
RESIDENCE; AND
(II) BE EMPLOYED AS A POLICE OFFICER BY PRINCE
GEORGE'S COUNTY OR A MUNICIPAL CORPORATION IN PRINCE GEORGE'S COUNTY
FOR A MINIMUM OF 3 YEARS FOLLOWING THE PURCHASE OF THE RESIDENTIAL
PROPERTY.
(D) IF A POLICE OFFICER WHO RECEIVES THE AN EXEMPTION OR
RATE REDUCTION UNDER THIS PARAGRAPH FAILS TO SATISFY THE REQUIREMENTS
OF SUBPARAGRAPH (C) OF THIS PARAGRAPH, THE POLICE OFFICER SHALL PAY THE
BALANCE OF THE TRANSFER TAX THAT WOULD HAVE BEEN PAYABLE WITHOUT THE
EXEMPTION OR RATE REDUCTION.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
July 1, 2006.
Approved May 2, 2006.
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- 2021 -
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