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SB 0574 - Recordation Tax - Public Utilities - Indemnity Mortgages
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Tracking Level: Support
Sponsor: Chair, Anne Arundel County Senators
Last Action: 2/8/2012 - S Hearing 2/22 at 1:00 p.m.
Senate Committee: Senate Committee on Budget and Taxation
Assigned To:
AndreaNext Bill
Taxes and RevenuesNext Bill

Staff Analysis of the Legislation

Related Documents
2/22/2012Testimony - Click to View

Bill Summary from the State Site - Click for the State Summary Page / Click for Current Full Text
BILL INFO-2012 Regular Session-SB 574
2012 Regular Session

SENATE BILL 574

File Code: Taxes - Recordation and Transfer Crossfiled with: HOUSE BILL 914
Sponsored By:
Chair, Anne Arundel County Senators
Entitled:
Recordation Tax - Public Utilities - Indemnity Mortgages

Synopsis:

Providing that secured debt with respect to specified indemnity mortgages on specified public utility property securing a guarantee of repayment of a loan is deemed for purposes of the recordation tax to be incurred when and to the same extent as debt is incurred on the guaranteed loan and the recordation tax applies with respect to these indemnity mortgages in a specified manner; defining terms; etc.

History by Legislative and Calendar Date

Legislative date is used to record history occurring in the Chambers otherwise Calendar date is used. For explanation of terms click here.
Senate Action
2/3
First Reading Budget and Taxation
2/8
Hearing 2/22 at 1:00 p.m.
House Action
No Action

Bill indexed under the following Subjects:

Loans -see also- Mortgages
Mortgages
Power Plants
Recordation
Revenue and Taxes -see also- Dev Fees &Taxes; specific tax
Utilities -see also- High Voltage Lines; Telephones; Water

Bill affects the following Statute:

Tax - Property
( 12-105 )

Documents

All documents except Roll Call Votes are displayed in PDF format:
Bill Text: First Reading, Third Reading, Enrolled
Fiscal and Policy Note: Available
Amendments: None offered