SB 476

Recordation Tax - Indemnity Mortgage Exemption - Threshold Amount

Sponsor: Craig J. Zucker (District 14)Committee: Budget and TaxationSubject: Taxes - Recordation and TransferStatus: Senate Requests House Recede (as of Nov 9, 2023)

What this bill does

Official synopsis

Increasing the threshold amount for certain indemnity mortgage transactions that are exempt from the recordation tax from $3,000,000 to $12,500,000; and applying the Act to all instruments of writing recorded on or after July 1, 2024.

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Testimony (18)

MGA witness list

FAV 14FavorableUNF 4Unfavorable

Position	Witness	Organization	Testimony
FAV	Carrington, Darrell	Carrington & Associates, LLC	Oral + Written (PDF)
FAV	Graf, Lorilobbyist	Maryland Building Industry Association	Oral + Written (PDF)
FAV	Enten, Robert	Md Bankers Assoc	Oral
FAV	Perlow, Howard	Residential Title and Escrow	Oral
FAV	Perlow, Howard	Residential Title and Escrow	Oral
FAV	Castelli, Williamlobbyist	Rifkin, Weiner, Livingston LLC	Written (PDF)
FAV	Castelli, Williamlobbyist	Rifkin, Weiner, Livingston LLC	Written (PDF)
FAV	Ballentine, Tom	Individual	Oral + Written (PDF)
FAV	Lininger, Brettlobbyist	Individual	Oral + Written (PDF)
FAV	Lininger, Brettlobbyist	Individual	Oral + Written (PDF)
FAV	Senator Zucker, Senator Zuckerlegislator	Individual	Oral
FAV	Senator Zucker, Senator Zuckerlegislator	Individual	Oral
FAV	Zucker, Senator	Individual	Written (PDF)
FAV	Zucker, Senator Craig	Individual	Oral + Written (PDF)
UNF	Venable, Victorialobbyist	Frederick County Government - Office of the County Executive	Written (PDF)
UNF	Fox, Diane	Frederick County, Maryland	Oral + Written (PDF)
UNF	Kinnally, Kevin	Maryland Association of Counties (MACo)	Oral + Written (PDF)
UNF	Coveyou, Michael	Montgomery County Government	Oral + Written (PDF)

Organizations on record

Carrington & Associates, LLCFAV 1

Frederick County Government - Office of the County ExecutiveUNF 1

Frederick County, MarylandUNF 1

Maryland Association of Counties (MACo)UNF 1

Maryland Building Industry AssociationFAV 1

Md Bankers AssocFAV 1

Montgomery County GovernmentUNF 1

Residential Title and EscrowFAV 2

Rifkin, Weiner, Livingston LLCFAV 2

Registered lobbyists who testified

FAVGraf, LoriMaryland Building Industry AssociationRegistered for: Maryland Building Industry Association

FAVCastelli, WilliamRifkin, Weiner, Livingston LLCRegistered for: ASC Engineered Solutions; Berkshire Hathaway Energy GT&S, LLC; Board of County Commissioners of Allegany County, MD; Brown Advisory; Cable Telecommunications Association of Maryland, Delaware and D.C., Inc.; Colonial Pipeline Company…

FAVLininger, BrettRegistered for: Aflac (American Family Life Assurance Company); Amazon.com Services, LLC; American International Group; Boyd Gaming Corporation; Brookfield Power US Asset Management LLC; Centers for Better Insurance, LLC…

UNFVenable, VictoriaFrederick County Government - Office of the County ExecutiveRegistered for: Chesapeake Climate Action Network Action Fund