Ch. 655                                    LAWS OF MARYLAND

CHAPTER 655

(Senate Bill 1074)

AN ACT concerning

Prince George's County - Transfer Tax

FOR the purpose of authorizing the County Council for Prince
George's County to exempt from local transfer tax all or any
part of any additional consideration under a mortgage or
deed of trust on the mortgagor's principal residence under
certain conditions; providing that certain transfer taxes in
Prince George's County may be paid in installments;
providing for the assessment of a certain fee if certain
transfer taxes are paid in installments; requiring the
Director of Finance to adopt certain regulations; providing
that deferred transfer taxes shall be a lien against
property under certain circumstances; and providing that,
for accounting purposes, certain transfer tax revenues may
be accrued in the year the transfer occurred.

BY repealing and reenacting, with amendments,

The Public Local Laws of Prince George's County
Section 10-187(a)

Article 17 - Public Local Laws of Maryland
(1983 Edition and 1985 Supplement, as amended)

BY adding to

The Public Local Laws of Prince George's County
Section 10-187(d)

Article 17 - Public Local Laws of Maryland
(1983 Edition and 1985 Supplement, as amended)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article 17 - Prince George's County

10-187.

(a) Except as provided in subsection (b), the Council is
authorized and empowered to impose a tax, at a rate not to exceed
one and one half percent (1 1/2%) of the actual consideration
paid or to be paid under every instrument of writing conveying
title to real property, or any interest therein, in the County,
offered for record and recorded in the County, provided that
conveyances to the State or any agency thereof or any political
Subdivision of the State, shall not be subject to the tax imposed

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