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Ch. 679
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2000 LAWS OF MARYLAND
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(ID ON PAYMENT IN FULL, THE SECRETARY OF THE BOARD OF
PUBLIC WORKS SHALL CAUSE A RELEASE TO BE RECORDED IN THE LAND RECORDS.
(4) IF THE CIRCUIT COURT FINDS THAT THERE HAS BEEN NO DEFAULT
OR IF THE FULL AMOUNT OF THE COURT'S JUDGMENT IS PAID TO THE STATE WITHIN
30 DAYS AFTER THE COURT'S FINAL ORDER, A TEMPORARY LIEN THEN IN EFFECT
SHALL BE RELEASED IMMEDIATELY AND THE SECRETARY OF THE BOARD OF PUBLIC
WORKS SHALL CAUSE THE RELEASE TO BE RECORDED IN THE LAND RECORDS.
(F) (1) . ALL FUNDS RECOVERED AS A RESULT OF THIS RIGHT OF RECOVERY
SHALL BE DEPOSITED IN THE ANNUITY BOND FUND AND APPLIED TO THE DEBT
SERVICE REQUIREMENTS OF THE STATE.
(2) IF THE BOARD DETERMINES THAT THERE IS GOOD CAUSE FOR
RELEASING THE TRANSFEROR, TRANSFEREE, OR OWNER FROM THE OBLIGATION
IMPOSED UNDER THIS SUBTITLE, THE BOARD OF PUBLIC WORKS MAY WAIVE THE
STATE'S RIGHT OF RECOVERY UNDER THIS SUBTITLE.
24-1007.
THE DEPARTMENT SHALL ADOPT REGULATIONS TO IMPLEMENT THE
PROVISIONS OF THIS SUBTITLE.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
July 1, 2000.
Approved May 18, 2000.
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CHAPTER 679
(House Bill 1246)
AN ACT concerning
Recordation Tax - Security Agreements Filed with Department of
Assessments and Taxation
FOR the purpose of exempting from the recordation tax certain security agreements
filed with the Department of Assessments and Taxation; correcting certain
cross-references; providing for a delayed effective date; and generally relating to
an exemption from the recordation tax for certain security agreements filed
with the Department of Assessments and Taxation.
BY repealing and reenacting, with amendments,
Article - Tax - Property
Section 12-102, 12-104(b), 12-108(k), and 12-109(b)(3)
Annotated Code of Maryland
(1994 Replacement Volume and 1999 Supplement)
BY repealing
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- 3488 -
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