Ch. 573                                       1994 LAWS OF MARYLAND

SECTION 3. AND BE IT FURTHER ENACTED, That if Chapter ___ (H.B.

471/S.B. 322) of the Acts of the General Assembly of 1994 becomes effective, Section 1 of
this Act shall be null and void without the necessity of further action by the General
Assembly, and if Chapter ____ does not become effective, Section 2 of this Act shall be
null and void without the necessity of further action by the General Assembly.

SECTION 2. 4. AND BE IT FURTHER ENACTED, That this Act shall take effect
October 1, 1994.

Approved May 26, 1994.                                                

CHAPTER 573
(House Bill 613)

AN ACT concerning                                                           

Recordation and Transfer Taxes - Exemption for Transfer from Cooperative Housing

Corporation

FOR the purpose of providing an exemption from the recordation tax and the State
transfer tax, under certain circumstances, for. an instrument of writing that transfers
real property from a cooperative housing corporation on its termination to an owner
of a cooperative interest in the cooperative housing corporation.

BY adding to                                                 

Article - Tax - Property
Section 12-108(x) and 13-207(a)(17)

Annotated Code of Maryland                                            

. (1986 Volume and 1993 Supplement)

BY repealing and reenacting, with amendments,
Article - Tax - Property
Section 13-207(a)(15) and (16)

Annotated Code of Maryland                                            

(1986 Volume and 1993 Supplement)

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

Article - Tax - Property

12-108..                                                                                                          .

(X) (1) EXCEPT AS PROVIDED IN PARAGRAPH (2) OF THIS SUBSECTION, AN
INSTRUMENT OF WRITING THAT TRANSFERS REAL PROPERTY FROM A
COOPERATIVE HOUSING CORPORATION ON ITS TERMINATION TO AN OWNER OF A

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