• Miscellaneous
  • August 10, 2017 | Authors: Neil J. Schechter; Timothy D. A. Chriss; David H. Fishman; Y. Jeffrey Spatz; Edward J. Levin; Seth M. Rotenberg; Searle E. Mitnick; William D. Shaughnessy; Peter B. Rosenwald; Danielle Stager Zoller
  • Law Firm: Gordon Feinblatt LLC - Baltimore Office
  • 28. Chapters 615 and 616 (SB 823/HB 659)

    Task Force to Study Tax Sales in Maryland

    These Acts establish a task force to study tax sales in Maryland. The task force is required to evaluate and assess the impact of tax sales, evaluate how tax sales are conducted in each county, and evaluate tax sales to collect delinquent water charges and alternative methods of collecting delinquent water charges. The task force also will consider and make recommendations for reform of the tax sale process in Maryland. The task force is required to report its findings and recommendations to the Governor and General Assembly by December 1, 2017.

    Effective June 1, 2017 for a period of 1 year and 1 month and is automatically abrogated on June 30, 2018.

    29. Chapter 18 (SB 884)

    Maryland Financial Consumer Protection Commission

    This Act establishes the Maryland Financial Consumer Protection Commission, which is to be staffed by the Department of Legislative Services (DLS). The Act specifies the membership of the commission and provides that the President of the Senate and the Speaker of the House must designate the chair of the commission. The commission must (1) assess the impact of potential changes to federal financial industry laws and regulations, budgets, and policies, including changes to specified federal financial regulations as well as the Dodd-Frank Wall Street Reform and Consumer Protection Act, and (2) issue recommendations for federal and State actions that are intended to protect residents of the State when conducting financial transactions and receiving financial services. The commission must submit two reports with its findings and recommendations to the Governor and General Assembly by December 31, 2017, and December 31, 2018.

    Effective June 1, 2017 and terminates on June 30, 2019.

    30. Chapter 425 (HB 404)

    St. Mary's County - Land Records – Repeal
    Article 19 – Public Local Laws of Maryland repealing Section 73–1 in the chapter “Chapter 73. Land Records”

    This Act repeals a provision in the public local laws of St. Mary’s County that was similar to Real Property Article, §3-104(f) relating to a certificate of preparation of a deed, mortgage, or deed of trust.

    Effective October 1, 2017.

    31. Chapter 148 (HB 1604)

    Howard County - Transfer Tax Exemption and Rate Reduction - Law Enforcement Officers and Fire and Rescue Services Members Ho. Co. 17-17
    The Public Local Laws of Howard County Section 20.300; Article 14 – Public Local Laws of Maryland repealing and reenacting those sections with amendments

    This Act establishes an exemption from Howard County transfer taxes for a deed transferring title to residential property to a Howard County law enforcement officer or fire and rescue services member. To be eligible for the exemption, at least one deed grantee must meet the following requirements: (1) the individual must occupy the property as the individual’s principal residence; (2) the individual must be a first-time home buyer in Howard County; and (3) the individual must be employed as a county police officer, county deputy sheriff, or a fire and rescue services member for a minimum of three years following the purchase of the residential property. An individual receiving the exemption who subsequently fails to meet the requirements is liable for the balance of the County transfer tax that would otherwise have been payable at the time of transfer. In addition, the Act limits the county transfer tax rate to 0.7% for a second and subsequent residential purchase by qualifying individuals.

    Effective July 1, 2017.