PARRIS N. GLENDENING, Governor

H.B. 100

(C) (1) THE ENTIRE AMOUNT OF RECORDATION TAX AND LOCAL
TRANSFER TAX SHALL BE PAID BY THE SELLER OF IMPROVED, RESIDENTIAL REAL
PROPERTY THAT IS SOLD TO A FIRST-TIME MARYLAND HOME BUYER WHO WILL
OCCUPY THE PROPERTY AS A PRINCIPAL RESIDENCE, UNLESS THERE IS AN EXPRESS
AGREEMENT BETWEEN THE PARTIES TO THE AGREEMENT THAT THE
RECORDATION TAX AND LOCAL TRANSFER TAX WILL NOT BE PAID ENTIRELY BY
THE SELLER.

(2) THE ENTIRE AMOUNT OF STATE TRANSFER TAX SHALL BE PAID BY
THE SELLER OF IMPROVED, RESIDENTIAL REAL PROPERTY THAT IS SOLD TO A
FIRST-TIME MARYLAND HOME BUYER WHO WILL OCCUPY THE PROPERTY AS A
PRINCIPAL RESIDENCE UNLESS THERE IS AN EXPRESS AGREEMENT BETWEEN THE
PARTIES TO THE AGREEMENT THAT THE TRANSFER TAX WILL NOT BE PAID
ENTIRELY BY THE SELLER.

(3) THIS SUBSECTION DOES NOT APPLY TO TAX SALES OF PROPERTY
UNDER SUBTITLE 8 OF THE PROPERTY TAX TAX - PROPERTY ARTICLE.

(4) IF THERE ARE TWO OR MORE GRANTEES, THIS SUBSECTION DOES
NOT APPLY UNLESS EACH GRANTEE IS A FIRST-TIME MARYLAND HOME BUYER OR
A CO-MAKER OR GUARANTOR OF A PURCHASE MONEY MORTGAGE OR PURCHASE
MONEY DEED OF TRUST AS DEFINED IN § 12-108(I) OF THIS TITLE THE TAX -
PROPERTY ARTICLE FOR THE PROPERTY AND THE CO-MAKER OR GUARANTOR WILL
NOT OCCUPY THE RESIDENCE AS THE CO-MAKER'S OR GUARANTOR'S PRINCIPAL
RESIDENCE.

(5) PARAGRAPHS (1) AND (2) OF THIS SUBSECTION APPLY ONLY IF EACH
GRANTEE PROVIDES A STATEMENT THAT IS SIGNED UNDER OATH BY THE GRANTEE
STATING THAT:

(I)       1. THE GRANTEE IS A FIRST-TIME MARYLAND HOME BUYER
AS DEFINED UNDER SUBSECTION (A) OF THIS SECTION; AND

2. THE RESIDENCE WILL BE OCCUPIED BY THE GRANTEE AS
THE GRANTEE'S PRINCIPAL RESIDENCE; OR

(II)     1. THE GRANTEE IS A CO-MAKER OR GUARANTOR OF A
PURCHASE MONEY MORTGAGE OR PURCHASE MONEY DEED OF TRUST AS DEFINED
IN § 12-108(1) OF THIS THE TAX - PROPERTY ARTICLE FOR THE PROPERTY; AND

2. THE GRANTEE WILL NOT OCCUPY THE RESIDENCE AS
THE CO-MAKER'S OR GUARANTOR'S PRINCIPAL RESIDENCE.

SECTION 2. 3. AND BE IT FURTHER ENACTED, That, to implement the
semiannual property tax payment provisions of this Act, counties and municipal
corporations shall modify property tax collection data processing systems to the extent
necessary to enable an efficient administration and collection of semiannual property tax
payments, and, as part of that modification of data processing systems, the counties and
municipal corporations shall ensure that their data processing systems can accommodate
a quarterly property tax payment system in addition to the semiannual property tax
payment system.

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