Maryland 2022 Regular Session

Maryland Senate Bill SB403 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1
2	2
3	3	EXPLANATION: CAPITALS INDICATE MAT TER ADDED TO EXISTIN G LAW.
4	4	[Brackets] indicate matter deleted from existing law.
5	5	sb0403
6	6
7	7	SENATE BILL 403
8	8	C1 2lr0127
9	9	CF HB 409
10	10	By: The President (By Request – Administration) and Senators Bailey, Carozza,
11	11	Cassilly, Corderman, Eckardt, Edwards, Elfreth, Gallion, Hershey, Hester,
12	12	Jennings, Ready, Salling, Simonaire, and West
13	13	Introduced and read first time: January 24, 2022
14	14	Assigned to: Budget and Taxation
15	15
16	16	A BILL ENTITLED
17	17
18	18	AN ACT concerning 1
19	19
20	20	Corporations and Associations – Annual Reports – Fees for Electronic Filings 2
21	21
22	22	FOR the purpose of eliminating filing fees paid by corporations and other business entities 3
23	23	to the State Department of Assessments and Taxation for certain annual reports 4
24	24	filed electronically; and generally relating to business entity filing fees. 5
25	25
26	26	BY repealing and reenacting, with amendments, 6
27	27	Article – Corporations and Associations 7
28	28	Section 1–201(c) and 1–203(b)(3)(ii) 8
29	29	Annotated Code of Maryland 9
30	30	(2014 Replacement Volume and 2021 Supplement) 10
31	31
32	32	BY adding to 11
33	33	Article – Corporations and Associations 12
34	34	Section 1–203(b)(3)(iii) 13
35	35	Annotated Code of Maryland 14
36	36	(2014 Replacement Volume and 2021 Supplement) 15
37	37
38	38	SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 16
39	39	That the Laws of Maryland read as follows: 17
40	40
41	41	Article – Corporations and Associations 18
42	42
43	43	1–201. 19
44	44
45	45	(c) (1) The Department may accept documents that are filed for record by 20
46	46	electronic transmission. 21
47	47	2 SENATE BILL 403
48	48
49	49
50	50	(2) [Documents] EXCEPT AS OTHERWISE PROVIDED IN THIS SUB TITLE, 1
51	51	DOCUMENTS filed for record by electronic transmission are subject to the regular filing 2
52	52	fees and expedited processing fees provided in § 1–203 of this subtitle. 3
53	53
54	54	1–203. 4
55	55
56	56	(b) (3) (ii) Except as provided in SUBPARAGRAPH (III) OF THIS 5
57	57	PARAGRAPH AND paragraph (13) of this subsection, for each of the following documents 6
58	58	which are filed but not recorded, the filing fee is as indicated: 7
59	59
60	60	Annual report of a Maryland corporation, except a charitable or benevolent 8
61	61	institution, nonstock corporation, savings and loan corporation, credit union, family farm, 9
62	62	and banking institution……………………………………………… …………….. ……………$300 10
63	63
64	64	Annual report of a foreign corporation subject to the jurisdiction of this State, except 11
65	65	a national banking association, savings and loan association, credit union, nonstock 12
66	66	corporation, and charitable and benevolent institution………………………… …………..$300 13
67	67
68	68	Annual report of a Maryland savings and loan association, banking institution, or 14
69	69	credit union or of a foreign savings and loan association, national banking association, or 15
70	70	credit union that is subject to the jurisdiction of this 16
71	71	State…………………………….……………………………………………………… ……..……$300 17
72	72
73	73	Annual report of a Maryland limited liability company, limited liability partnership, 18
74	74	limited partnership, or of a foreign limited liability company, foreign limited liability 19
75	75	partnership, or foreign limited partnership, except a family 20
76	76	farm……………………………………………………………………………………....… ……....$300 21
77	77
78	78	Annual report of a business trust……………………………………… ……...….…….$300 22
79	79
80	80	Annual report of a real estate investment trust or foreign statutory trust doing 23
81	81	business in this State…………………………………………………………………… ……..…$300 24
82	82
83	83	Annual report of a family farm…………………………………… …….………...……$100 25
84	84
85	85	(III) FOR AN ANNUAL REPORT DUE ON OR AFTER APRIL 15, 2023, 26
86	86	THERE IS NO FILING F EE FOR A BUSINESS EN TITY DESCRIBED UNDER 27
87	87	SUBPARAGRAPH (II) OF THIS PARAGRAPH THAT FILES AN ANNUAL REPORT 28
88	88	ELECTRONICALLY IN AC CORDANCE WITH PROCED URES ESTABLISHED BY THE 29
89	89	DEPARTMENT . 30
90	90
91	91	SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect July 31
92	92	1, 2022. 32
93	93