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2006 LAWS OF MARYLAND
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Ch. 130
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CHAPTER 130
(Senate Bill 318)
AN ACT concerning
Vessel Excise Tax - Family Transfers - Documented Vessels
FOR the purpose of providing an exemption from the vessel excise tax for federally
documented vessels transferred between certain family members under certain
conditions; and generally relating to the application of the vessel excise tax to
certain federally documented vessels.
BY repealing and reenacting, with amendments,
Article — Natural Resources
Section 8-716(e)
Annotated Code of Maryland
(2000 Replacement Volume and 2005 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article - Natural Resources
8-716.
(e) A person is not required to pay the tax provided for in subsection (c) of this
section resulting from:
(1) A transfer between members of the immediate family as determined
by Department regulations;
(2) A TRANSFER BETWEEN MEMBERS OF THE IMMEDIATE FAMILY AS
DETERMINED BY DEPARTMENT REGULATIONS OF A DOCUMENTED VESSEL FOR
WHICH THE TRANSFEROR APPLIED FOR AND WAS ISSUED A VALID USE STICKER
UNDER § 8-712.1 OF THIS SUBTITLE;
[(2)] (3) A transfer to a licensed dealer of a vessel for resale, rental, or
leasing purposes;
[(3)] (4) The holding of a vessel that is titled or numbered in another
state or is federally documented, provided:
(i) The vessel is held for resale or listed for resale by a licensed
dealer; and
(ii) The vessel owner signs an affidavit that there will be no use of
the vessel on the waters of the State other than for a sea trial;
[(4)] (5) Purchase of a vessel by the State or any political subdivision;
[(5)] (6) Purchase of a vessel by an eleemosynary organization which the
Secretary has approved;
- 784 -
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