Ch. 140                                     1993 LAWS OF MARYLAND

(D) IF ANY AMOUNTS WITHHELD UNDER THIS SECTION RESULT IN EXCESS
WITHHOLDING ON THE GAIN FROM THE SALE, THE VENDOR MAY FILE A CLAIM FOR
A REFUND OF THE WITHHOLDING IN EXCESS OF THE APPLICABLE PERCENTAGE OF
THE AMOUNT OF TAXABLE GAIN REQUIRED TO BE RECOGNIZED ON THE SALE BY
THE VENDOR.

(E) THE PROVISIONS OF THIS SECTION DO NOT APPLY TO ANY SALE OF
PROPERTY FOR WHICH THE VENDOR HAS FURNISHED TO THE REAL ESTATE
REPORTING PERSON AN AFFIDAVIT STATING THAT THE VENDOR IS A RESIDENT
VENDOR.

(E) (F) THE COMPTROLLER MAY EXEMPT CERTAIN CLASSES OF SALES
FROM THE PROVISIONS OF THIS SECTION AND MAY EXTEND THE TIME FOR THE
WITHHOLDING AND PAYMENT OF THE TAX IF THE COMPTROLLER DETERMINES
THAT ADEQUATE SECURITY FOR THE TAX EXISTS TO WARRANT THE EXEMPTION
OR THE EXTENSION.

SECTION 2. AND BE IT FURTHER ENACTED, That the Comptroller shall, by
regulation or otherwise, ensure that the provisions of this Act shall not require
withholding on a sale of real property which is part of an action by a Maryland resident in
the process of moving from the State.

10-830.

ANY REAL ESTATE REPORTING PERSON WHO IS REQUIRED TO FILE A RETURN
UNDER § 6045 OF THE INTERNAL REVENUE CODE SHALL FILE A COPY OF THAT RETURN
WITH THE COMPTROLLER IF:

(1) THE VENDOR IS A NONRESIDENT; AND

  (2) THE REAL PROPERTY SOLD IS LOCATED IN THIS STATE.

SECTION 2. 3. 2. AND BE IT FURTHER ENACTED; That this Act shall take
effect July 1, 1993.

Approved April 26, 1993.                                                                 

CHAPTER 140
(House Bill 222)

AN' ACT concerning

Tax Exemptions - Report

FOR the purpose of altering the requirement that the budget books and other supporting
documents for a certain period contain certain information; providing for the
information to be supplied on a less frequent that a certain report be provided on a
biennial basis; providing for the application of this Act; and generally relating to the
reporting of the effect of tax expenditures on revenues.

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