Recordation and Transfer Taxes - Exemption for Related Business Entities - Common Law Trusts
Sponsor: Chris West (District 42)Committee: Budget and TaxationSubject: Taxes - Recordation and TransferStatus: Hearing 1/21 at 10:00 a.m. (as of Sep 4, 2026)
What this bill does
Official synopsis
Altering an exemption from the recordation tax and State and county transfer tax for transfers between related business entities to include transfers involving common law trusts; and applying the Act to instruments of writing recorded on or after July 1, 2026.
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Testimony (6)
MGA witness listFAV 5FavorableFWA 1Favorable with amendments
| Position | Witness | Organization | Testimony |
|---|---|---|---|
| FAV | Lieberman, Jim | Leisure World | Written (PDF) |
| FAV | Grace, Thomas | MSBA Estate & Trust Section | Oral + Written (PDF) |
| FAV | Ballentine, Tom | NAIOP Maryland | Written (PDF) |
| FAV | West, Christopher | Senator Chris West | Written (PDF) |
| FAV | Senator West, Senator Westlegislator | Individual | Oral |
| FWA | Glazer, Mark | Maryland Land Title Association | Written (PDF) |