EXPLANATION: CAPITALS INDICATE MAT TER ADDED TO EXISTIN G LAW.
[Brackets] indicate matter deleted from existing law.
Underlining indicates amendments to bill.
Strike out indicates matter stricken from the bill by amendment or deleted from the law by
amendment.
Italics indicate opposite chamber/conference committee amendments.
*sb0470*
SENATE BILL 470
M1 (3lr1852)
ENROLLED BILL
— Budget and Taxation and Education, Energy, and the Environment/Environment
and Transportation —
Introduced by Senators Elfreth, Gile, Guzzone, Hettleman, Jackson, James, King,
Rosapepe, and Zucker
Read and Examined by Proofreaders:
_______________________________________________
Proofreader.
_______________________________________________
Proofreader.
Sealed with the Great Seal and presented to the Governor, for his approval this
_______ day of _______________ at ________________________ o’clock, ________M.
______________________________________________
President.
CHAPTER ______
AN ACT concerning 1
Natural Resources – Land Conservation – Establishment of Goals and Programs 2
(Maryland the Beautiful Act) 3
FOR the purpose of establishing certain goals and programs related to land conservation; 4
establishing the Local Land Trust Revolving Loan Program to provide loans to 5
certain land trusts to purchase land for conservation purposes; authorizing the 6
Maryland Environmental Trust to exercise certain remedies under certain 7
circumstances; prohibiting a person from making any false statements affecting a 8
Local Land Trust Revolving Loan Program loan; providing that a person who violates 9
certain provisions of law is subject to certain penalties; establishing the Local Land 10
Trust Revolving Loan Fund as a special, nonlapsing fund; requiring interest 11
earnings of the Fund to be credited to the Fund; requiring authorizing the Governor, 12
beginning in a certain fiscal year, to include in the annual budget bill a certain 13 2 SENATE BILL 470
appropriation to the Maryland Environmental Trust to be used to provide certain 1
grants through the Keep Maryland Beautiful Program; establishing the 40 x 40 Land 2
Conservation Implementation Grant Program to support implementation of land 3
conservation goals; authorizing certain excess revenue from the transfer tax 4
collected in a certain fiscal year to be allocated to the Local Land Trust Revolving 5
Loan Fund; and generally relating to land conservation in the State. 6
BY adding to 7
Article – Natural Resources 8
New part designation “Part I. General Provisions” to immediately precede Section 9
3–201; Section 3–214 through 3–216 3–217 to be under the new part “Part II. 10
Local Land Trust Revolving Loan Program”; and 5–104 11
Annotated Code of Maryland 12
(2018 Replacement Volume and 2022 Supplement) 13
BY repealing and reenacting, with amendments, 14
Article – Natural Resources 15
Section 3–210 16
Annotated Code of Maryland 17
(2018 Replacement Volume and 2022 Supplement) 18
BY repealing and reenacting, without amendments, 19
Article – State Finance and Procurement 20
Section 6–226(a)(2)(i) 21
Annotated Code of Maryland 22
(2021 Replacement Volume and 2022 Supplement) 23
BY repealing and reenacting, with amendments, 24
Article – State Finance and Procurement 25
Section 6–226(a)(2)(ii)170. and 171. 26
Annotated Code of Maryland 27
(2021 Replacement Volume and 2022 Supplement) 28
BY adding to 29
Article – State Finance and Procurement 30
Section 6–226(a)(2)(ii)172. 31
Annotated Code of Maryland 32
(2021 Replacement Volume and 2022 Supplement) 33
BY repealing and reenacting, with amendments, 34
Article – Tax – Property 35
Section 13–209(f)(1) 36
Annotated Code of Maryland 37
(2019 Replacement Volume and 2022 Supplement) 38
SENATE BILL 470 3
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 1
That the new part designation “Part I. General Provisions” be added to immediately 2
precede Section 3–201 of Article – Natural Resources of the Annotated Code of Maryland. 3
SECTION 2. AND BE IT FURTHER ENACTED, That the Laws of Maryland read 4
as follows: 5
Article – Natural Resources 6
3–210. 7
(A) (1) Any function or activity of the Governor’s Committee to Keep Maryland 8
Beautiful is transferred to the Trust. 9
(2) These functions and activities include, by way of enumeration and not 10
limitation: 11
[(1)] (I) Educating Maryland citizens and visitors in their individual 12
responsibility in litter prevention and care of the out–of–doors through a two–fold 13
approach: 14
[(i)] 1. Awareness–publicity through radio, TV, newspapers, and 15
other public media; and 16
[(ii)] 2. Action–cleanup and beautification projects carried out by 17
civic organizations, county committees, and community groups in cooperation with public 18
agencies; 19
[(2)] (II) Efficient use of public and private funds spent on cleaning up 20
highways, parks, beaches, and other public and private property; 21
[(3)] (III) Increasing beauty through stimulation of private business, 22
community, and public planting projects; and 23
[(4)] (IV) Stimulating pride and appreciation for home, community, and 24
State. 25
(B) (1) IN FISCAL YEAR 2025 AND EACH FISCAL YEAR THEREAFTER, THE 26
GOVERNOR SHALL MAY INCLUDE IN THE ANNUA L BUDGET BILL AN APP ROPRIATION 27
OF $235,000 TO THE TRUST, TO BE USED IN THE FO LLOWING AMOUNTS FOR THE 28
FOLLOWING PURPOSES : 29
(I) $50,000 PER YEAR TO PROVIDE LAND STEWARDSHIP 30
CAPACITY–BUILDING GRANTS OF U P TO $10,000 TO LAND TRUSTS TO SU PPORT 31
MONITORING AND STEWA RDSHIP SCHOLARSHIPS , LAND MONITORING AND 32 4 SENATE BILL 470
STEWARDSHIP EQUIPMEN T, OR ORGANIZATIONAL AC CREDITATION AND 1
CERTIFICATION TRAINI NGS; 2
(II) $50,000 PER YEAR TO PROVIDE LAND STEWARDSHIP 3
IMPROVEMENT GRANTS O F UP TO $10,000 TO LAND TRUSTS TO SU PPORT IMPROVED 4
MONITORING AND STEWA RDSHIP OF AGRICULTUR AL LANDS, FOREST LANDS , OR 5
LANDS FACING A HIGH DEGREE OF THREAT FRO M INVASIVE SPECIES O R THE 6
EFFECTS OF CLIMATE C HANGE; AND 7
(III) $135,000 PER YEAR TO PROVIDE CITIZEN STEWARDSHIP 8
GRANTS OF UP TO $5,000 TO NONPROFIT ORGANIZ ATIONS, COMMUNITY 9
ORGANIZATIONS , SCHOOLS, AND MUNICIPAL CORPOR ATIONS TO ENGAGE 10
COMMUNITY MEMBERS , ESPECIALLY CHILDREN AND YOUNG ADULTS , IN 11
ENVIRONMENTAL EDUCAT ION AND STEWARDSHIP . 12
(2) FUNDS PROVIDED TO THE TRUST UNDER PARAGRAPH (1) OF THIS 13
SUBSECTION ARE SUPPL EMENTAL TO AND ARE N OT INTENDED TO TAKE THE PLACE 14
OF FUNDING THAT WOUL D OTHERWISE BE APPRO PRIATED TO THE TRUST FOR 15
GRANTS ADMINISTERED UNDER THE KEEP MARYLAND BEAUTIFUL PROGRAM. 16
3–212. RESERVED. 17
3–213. RESERVED. 18
PART II. LOCAL LAND TRUST REVOLVING LOAN PROGRAM. 19
3–214. 20
(A) IN THIS PART THE FOLL OWING WORDS HAVE THE MEANINGS 21
INDICATED. 22
(B) “ADVISORY COMMITTEE” MEANS THE LAND PRESERVATION RAPID 23
RESPONSE ADVISORY COMMITTEE. 24
(C) “BOARD OF TRUSTEES” MEANS THE BOARD OF TRUSTEES OF THE 25
MARYLAND ENVIRONMENTAL TRUST. 26
(D) “EXECUTIVE COMMITTEE” MEANS THE EXECUTIVE COMMITTEE OF THE 27
MARYLAND ENVIRONMENTAL TRUST. 28
(E) “FUND” MEANS THE LOCAL LAND TRUST REVOLVING LOAN FUND. 29
(F) “LAND TRUST” HAS THE MEANING STAT ED IN § 3–2A–01 OF THIS 30
ARTICLE. 31 SENATE BILL 470 5
(G) “PROGRAM” MEANS THE LOCAL LAND TRUST REVOLVING LOAN 1
PROGRAM. 2
(H) “TRUST” MEANS THE MARYLAND ENVIRONMENTAL TRUST. 3
3–215. 4
(A) THERE IS A LOCAL LAND TRUST REVOLVING LOAN PROGRAM. 5
(B) THE PURPOSE OF THE PROGRAM IS TO: 6
(1) SUPPORT THE EFFORTS O F LOCAL LAND TRUSTS THAT WORK 7
WITH STATE AND LOCAL GOVER NMENTAL ENTITIES AND THAT HAVE DIFFIC ULTY 8
ACCESSING MONEY FROM EXISTING PROGRAM OPEN SPACE PRESERVATION 9
PROGRAMS IN A TIMELY MANNER; AND 10
(2) PROVIDE REVOLVING LOA NS TO LAND TRUSTS ON A ROLLING 11
BASIS TO ASSIST THE LAND TRUSTS TO PURCH ASE FEE SIMPLE OR EASEME NT 12
INTERESTS IN REAL PROPERTY FOR CONSERVATION PUR POSES. 13
(C) (1) THE TRUST SHALL: 14
(I) ADMINISTER THE PROGRAM; AND 15
(II) ESTABLISH APPLICATION PROCEDURES AND ELIGI BILITY 16
CRITERIA FOR PROGRAM LOANS . 17
(2) IF THE TRUST APPROVES AN APP LICANT’S REQUEST FOR A 18
PROGRAM LOAN , THE TRUST SHALL: 19
(I) PREPARE THE LOAN DOCUMENTS ; AND 20
(II) ESTABLISH THE TERMS A ND CONDITIONS FOR TH E LOAN. 21
(C) (D) A LAND TRUST THAT RECE IVES A PROGRAM LOAN TO PURCH ASE 22
PROPERTY IN ACCORDAN CE WITH SUBSECTION (B) OF THIS SECTION SHAL L REPAY 23
THE FUND: 24
(1) AT A RATE TO BE DETER MINED BY THE MARYLAND 25
ENVIRONMENTAL TRUST, NOT TO EXCEED ONE PO INT BELOW THE PRIME INTEREST 26
RATE; AND 27
6 SENATE BILL 470
(2) AFTER THE PROPERTY IS : 1
(I) PLACED UNDER A CONSERVATION EASEMENT; OR 2
(II) TRANSFERRED TO A STATE OR LOCAL GOVERN MENTAL 3
ENTITY. 4
(D) THE PROGRAM IS ADMINISTER ED BY THE MARYLAND ENVIRONMENTAL 5
TRUST. 6
(E) NOTHING IN THIS SECTI ON OBLIGATES A STATE OR LOCAL 7
GOVERNMENT ENTITY TO ACCEPT OR PURCHASE F ROM A LAND TRUST A 8
CONSERVATION EASEMEN T OR TRANSFERRED PRO PERTY PURCHASED WITH A 9
PROGRAM LOAN . 10
(F) NOTWITHSTANDING SUBSE CTION (D)(2) OF THIS SECTION , A LAND 11
TRUST SHALL REPAY A PROGRAM LOAN AND ANY ACCRUED INTEREST WIT HIN 5 12
YEARS AFTER RECEIVIN G THE PROGRAM LOAN , UNLESS THE BOARD OF TRUSTEES 13
APPROVES AN EXTENSIO N OF TIME BASED ON EXTENUATING CIRCU MSTANCES. 14
(G) IF A LAND TRUST VIOLA TES ANY PROVISION OF THE LOAN DOCUMENTS 15
OR CEASES TO MEET TH E REQUIREMENTS OF TH IS SUBTITLE, ON REASONABLE 16
NOTICE TO THE LAND T RUST, THE TRUST MAY EXERCISE AN Y REMEDY AVAILABLE 17
UNDER LAW, INCLUDING ANY REMEDIES PROVIDE D FOR IN THE LOAN DO CUMENTS. 18
(H) (1) A PERSON MAY NOT KNOWI NGLY MAKE OR CAUSE T O BE MADE ANY 19
FALSE STATEMENT OR R EPORT, INCLUDING ANY UNDERS TATEMENT OR 20
OVERSTATEMENT OF FIN ANCIAL CONDITION FOR A NEW LOAN OR AFFECT ING A LOAN 21
ALREADY MA DE UNDER THIS SUBTIT LE: 22
(I) IN ANY APPLICATION OR IN ANY DOCUMENT FURN ISHED TO 23
THE TRUST; OR 24
(II) FOR THE PURPOSE OF IN FLUENCING THE ACTION OF THE 25
TRUST ON AN APPLICATI ON FOR FINANCIAL ASS ISTANCE OR FOR THE P URPOSE OF 26
INFLUENCING ANY ACTI ON OF THE TRUST AFFECTING FINAN CIAL ASSISTANCE 27
WHETHER OR NOT SUCH ASSISTANCE MAY HAVE ALREADY BEEN EXTENDE D. 28
(2) ANY PERSON, AIDER, OR ABETTOR WHO VIOLA TES ANY PROVISION 29
OF THIS SUBTITLE IS GUILTY OF A MISDEMEA NOR AND ON CONVICTIO N IS SUBJECT 30
TO A FINE NOT EXCEE DING $50,000 OR IMPRISONMENT NOT EXCEEDING 5 YEARS OR 31
BOTH. 32
SENATE BILL 470 7
3–216. 1
(E) (A) (1) THERE IS A LAND PRESERVATION RAPID RESPONSE 2
ADVISORY COMMITTEE. 3
(2) (B) THE PURPOSE OF THE ADVISORY COMMITTEE IS TO: 4
(I) (1) REVIEW AND PRIORITIZE PROGRAM LOAN 5
APPLICATIONS FOR FINAL APPROVAL BY TH E EXECUTIVE COMMITTEE 6
CONSIDERATION BY THE BOARD OF TRUSTEES; AND 7
(II) (2) MAKE RECOMMENDATIONS TO THE EXECUTIVE 8
COMMITTEE BOARD OF TRUSTEES ON: 9
1. (I) WHICH PROJECTS TO FUN D, WHETHER IN WHOLE OR 10
IN PART; AND 11
2. (II) THE FUNDING TO BE ALL OCATED TO EACH PROJE CT. 12
(3) (C) THE ADVISORY COMMITTEE CONSISTS OF : 13
(I) (1) A REPRESENTATIVE OF TH E DEPARTMENT , 14
SELECTED BY THE SECRETARY; AND 15
(II) (2) THE FOLLOWING MEMBERS, SELECTED BY THE 16
BOARD OF TRUSTEES: 17
1. (I) A REPRESENTATIVE OF TH E MARYLAND 18
ENVIRONMENTAL TRUST THAT IS NOT A M EMBER OF THE EXECUTIVE COMMITTEE; 19
2. (II) A REPRESENTATIVE OF A NONPROFIT LAND 20
CONSERVATION ORGANIZ ATION IN THE STATE; 21
3. (III) A REPRESENTATIVE OF A LOCAL PARKS AND 22
RECREATION DEPARTMEN T IN THE STATE; AND 23
4. (IV) AN INDIVIDUAL WITH EX PERIENCE IN LOAN 24
UNDERWRITING . 25
3–216. 3–217. 26
(A) THERE IS A LOCAL LAND TRUST REVOLVING LOAN FUND. 27
8 SENATE BILL 470
(B) THE PURPOSE OF THE FUND IS TO FINANCE THE PROGRAM. 1
(C) THE MARYLAND ENVIRONMENTAL TRUST SHALL ADMINISTE R THE 2
FUND. 3
(D) (1) THE FUND IS A SPECIAL , NONLAPSING FUND THAT IS NOT 4
SUBJECT TO § 7–302 OF THE STATE FINANCE AND PROCUREMENT ARTICLE. 5
(2) THE STATE TREASURER SHALL HOLD THE FUND SEPARATELY , 6
AND THE COMPTROLLER SHALL ACC OUNT FOR THE FUND. 7
(E) THE FUND CONSISTS OF : 8
(1) MONEY APPROPRIATED IN THE STATE BUDGET TO THE FUND; 9
(2) INTEREST EARNINGS ; AND 10
(3) REPAYMENTS OF PRINCIP AL AND INTEREST FROM LOANS MADE 11
UNDER THE PROGRAM; AND 12
(4) ANY OTHER MONEY FROM ANY OTHER SOURCE ACC EPTED FOR 13
THE BENEFIT OF THE FUND. 14
(F) IN FISCAL YEAR 2025, THE THE GOVERNOR SHALL MAY INCLUDE IN THE 15
ANNUAL BUDGET BILL A N APPROPRIATION OF $10,000,000 TO THE FUND. 16
(G) THE FUND MAY BE USED ONLY TO PROVIDE FUNDING F OR THE 17
PROGRAM. 18
(H) (1) THE STATE TREASURER SHALL INVES T THE MONEY OF THE FUND 19
IN THE SAME MANNER A S OTHER STATE MONEY MAY BE IN VESTED. 20
(2) ANY INTEREST EARNINGS OF THE FUND SHALL BE CREDITE D TO 21
THE FUND. 22
(I) EXPENDITURES FROM THE FUND MAY BE MADE ONLY IN ACCORDANCE 23
WITH THE STATE BUDGET . 24
(J) MONEY EXPENDED FROM T HE FUND FOR THE PROGRAM IS 25
SUPPLEMENTAL TO AND IS NOT INTENDED TO T AKE THE PLACE OF FUN DING THAT 26
OTHERWISE WOULD BE A PPROPRIATED FOR THE PROGRAM. 27
5–104. 28 SENATE BILL 470 9
(A) (1) IN THIS SECTION THE FOL LOWING WORDS HAVE TH E MEANINGS 1
INDICATED. 2
(2) “CONSERVE” MEANS TO PERMANENTLY PROTECT LAND FROM 3
DEVELOPMENT THROUGH PURCHASE, DONATION, A PERPETUAL CONSERVA TION OR 4
AN OPEN SPACE EASEME NT, OR FEE OWNERSHIP IN ORDER TO PRESERVE TH E 5
CULTURAL, HISTORICAL, ECOLOGICAL, OR AGRICULTURAL VALU E OF THE LAND. 6
(3) “PROGRAM” MEANS THE 40 X 40 LAND CONSERVATION 7
IMPLEMENTATION GRANT PROGRAM ESTABLISHED U NDER SUBSECTION (C) OF 8
THIS SECTION. 9
(4) “SMART GROWTH SUBCABINET” MEANS THE SMART GROWTH 10
SUBCABINET ESTABLISHE D UNDER § 9–1406 OF THE STATE GOVERNMENT 11
ARTICLE. 12
(5) “TRUST” MEANS THE MARYLAND ENVIRONMENTAL TRUST. 13
(B) (1) IT IS THE INTENT OF T HE GENERAL ASSEMBLY THAT : 14
(I) BY 2030, 30% OF LANDS IN THE STATE BE CONSERVED ; AND 15
(II) BY 2040, 40% OF LANDS IN THE STATE BE CONSERVED . 16
(2) THE CONSERVATION GOAL S ESTABLISHED UNDER PARAGRAPH 17
(1) OF THIS SUBSECTION S HALL BE ACCOMPLISHED THROUGH MULTIPLE EFF ORTS, 18
INCLUDING: 19
(I) WORKING WITH LOCAL CO MMUNITIES, COUNTIES, 20
MUNICIPALITIES , AMERICAN INDIAN COMMUNITIES , AND PRIVATE LANDOWNE RS TO 21
CONSERVE NATURAL PLA CES AND RESOURCES ; 22
(II) IMPROVING ACCESS TO N ATURE FOR ALL INDIVI DUALS IN 23
THE STATE, INCLUDING COMMUNITIE S OF COLOR AND ECONO MICALLY 24
DISADVANTAGED COMMUN ITIES; 25
(III) SEQUESTERING CARBON AND GRE ENHOUSE GAS EMISSION S 26
IN THE LANDS AND WAT ERS OF THE STATE; 27
(IV) INCREASING PUBLIC INC ENTIVES FOR PRIVATE 28
LANDOWNERS TO VOLUNT ARILY CONSERVE AND P ROTECT AREAS OF 29 10 SENATE BILL 470
DEMONSTRATED CONSERV ATION VALUE AND AREA S THAT HAVE A HIGH C APACITY 1
TO SEQUESTER CARBON AND GREENHOUSE GAS EMISS IONS; 2
(V) FOCUSING CONSERVATION WORK AT A LARGE LAND SCAPE 3
SCALE THAT IS BIOLOG ICALLY AND ECOLOGICA LLY MEANINGFUL ; 4
(VI) PREVENTING THE EXTINC TION OF NATIVE PLANT AND 5
ANIMAL SPECIES BY RE COVERING AND RESTORI NG THE SPECIES; 6
(VII) STABILIZING ECOSYSTEM S AND ECOSYSTEM SERV ICES, 7
RESTORING DEGRADED E COSYSTEMS, AND MAINTAINING ECOL OGICAL FUNCTIONS ; 8
AND 9
(VIII) INCREASING ECONOMIC O PPORTUNITIES FOR FAR MERS, 10
RANCHERS, FISHERS, AND FORESTERS . 11
(C) (1) THE TRUST SHALL ADMINISTER A 40 X 40 LAND CONSERVATION 12
IMPLEMENTATION GRANT PROGRAM TO SUPPORT IM PLEMENTATION OF THE 13
GOALS ESTABLISHED UN DER SUBSECTION (B) OF THIS SECTION. 14
(2) PROGRAM GRANTS SHALL : 15
(I) BE AWARDED EACH YEAR ON A COMPETITIVE BAS IS TO A 16
STATEWIDE NONPROFIT ORGANIZATI ON THAT FOCUSES ON S UPPORTING THE 17
PERMANENT CONSERVATI ON OF THE LANDS OF T HE STATE; AND 18
(II) PROVIDE AT LEAST : 19
1. $150,000 TO THE GRANT RECIPIE NT FOR THE 20
PURPOSE OF PROVIDING TOOLS AND RESOURCES , ORGANIZATIONAL SUPPO RT, AND 21
CAPACITY BUILDING TO LOCAL LAND TRUSTS ; AND 22
2. $100,000 TO THE GRANT RECIPIE NT FOR THE 23
PURPOSE OF PROVIDING STATEWIDE EDUCATIONA L CONFERENCES AND TR AININGS 24
FOR LOCAL LAND TRUST S ON THE TOPICS OF E ASEMENT ACQUISITION , 25
CONSERVATION PROGRAM S AND TOOL S, LAND MANAGEMENT AND STEWARDSHIP , 26
AND OTHER RELEVANT S UBJECTS. 27
(3) IN FISCAL YEAR 2025 AND EACH FISCAL YEAR THEREAFTER , THE 28
GOVERNOR SHALL MAY INCLUDE IN THE ANNUA L BUDGET BILL AN APP ROPRIATION 29
OF $250,000 TO THE TRUST FOR THE PURPOSE OF PROVIDING TH E GRANTS 30
REQUIRED UNDER THIS SUBSECTION. 31
SENATE BILL 470 11
(D) (1) IN ORDER TO MEET THE CONSERVATION GOALS E STABLISHED 1
UNDER SUBSECTION (B) OF THIS SECTION , THE SMART GROWTH SUBCABINET, IN 2
COORDINATION WITH RE LEVANT STAKEHOLDERS , SHALL: 3
(I) COORDINATE THE ACTION S OF STATE AGENCIES , LOCAL 4
GOVERNMENTS , AND NONGOVERNMENTAL PARTNERS; 5
(II) ON OR BEFORE JULY 1, 2024, DEVELOP AND PUBLISH A 6
PLAN TO MEET THE STATE’S CONSERVATION GOALS AND UPDATE THE PLAN AS 7
NEEDED, BUT NOT LESS THAN EV ERY 5 YEARS THEREAFTER ; AND 8
(III) ON OR BEFORE DECEMBER 1, 2024, AND EACH DECEMBER 9
1 THEREAFTER , REPORT TO THE SENATE EDUCATION, ENERGY, AND THE 10
ENVIRONMENT COMMITTEE AND THE HOUSE ENVIRONMENT AND 11
TRANSPORTATION COMMITTEE, IN ACCORDANCE WITH § 2–1257 OF THE STATE 12
GOVERNMENT ARTICLE, ON THE STATE’S PROGRESS TOWARD ME ETING THE 13
CONSERVATION GOALS . 14
(2) THE SMART GROWTH SUBCABINET SHALL MAKE THE ANNUAL 15
REPORT REQUIRED UNDE R PARAGRAPH (1)(III) OF THIS SUBSECTION A VAILABLE ON 16
ITS WEBSITE. 17
Article – State Finance and Procurement 18
6–226. 19
(a) (2) (i) Notwithstanding any other provision of law, and unless 20
inconsistent with a federal law, grant agreement, or other federal requirement or with the 21
terms of a gift or settlement agreement, net interest on all State money allocated by the 22
State Treasurer under this section to special funds or accounts, and otherwise entitled to 23
receive interest earnings, as accounted for by the Comptroller, shall accrue to the General 24
Fund of the State. 25
(ii) The provisions of subparagraph (i) of this paragraph do not apply 26
to the following funds: 27
170. the Cannabis Public Health Fund; [and] 28
171. the Community Reinvestment and Repair Fund; AND 29
172. THE LOCAL LAND TRUST REVOLVING LOAN FUND. 30
SECTION 3. AND BE IT FURTHER ENACTED, That the Laws of Maryland read 31
as follows: 32 12 SENATE BILL 470
Article – Tax – Property 1
13–209. 2
(f) (1) (i) Except as provided in subparagraphs (ii) and (iii) of this 3
paragraph, for any fiscal year in which the actual transfer tax revenue collections are 4
greater than the revenue estimates used as the basis for the appropriations required under 5
this section for the fiscal year, the amount of the excess shall be allocated to the special 6
fund under subsection (a) of this section as provided under subsections (c) and (d) of this 7
section for the second fiscal year following the fiscal year in which there is an excess. 8
(ii) 1. Notwithstanding subparagraph (i) of this paragraph or 9
any other provision of law, $21,776,868 of the transfer tax collected but not appropriated 10
or transferred in fiscal 2004 shall be transferred to the General Fund of the State. 11
2. NOTWITHSTANDING SUBPA RAGRAPH (I) OF THIS 12
PARAGRAPH OR ANY OTH ER PROVISION OF LAW , IF IN FISCAL YEAR 2023 THE 13
ACTUAL TRANSFER TAX REVENUE COLLECTIONS ARE GREATER THAN THE REVENUE 14
ESTIMATES USED AS TH E BASIS FOR THE APPR OPRIATIONS REQUIRED UNDER THIS 15
SECTION FOR FISCAL YEAR 2025 2023, THE AMOUNT OF THE EX CESS MAY BE 16
ALLOCATED TO THE LOCAL LAND TRUST REVOLVING LOAN FUND IN FISCAL YEAR 17
2025. 18
(iii) Notwithstanding subparagraph (i) of this paragraph or any other 19
provision of law, in any fiscal year in which an appropriation or transfer is made from the 20
special fund to the General Fund, if the actual transfer tax revenue collections for the prior 21
fiscal year exceed the budget estimate for the prior fiscal year, the excess shall be allocated 22
in the current fiscal year for Program Open Space, the Agricultural Land Preservation 23
Fund, the Rural Legacy Program, and the Heritage Conservation Fund. Funds made 24
available under this subparagraph shall be allocated as provided under subsection (d) of 25
this section. 26
SECTION 3. 4. AND BE IT FURTHER ENACTED, That this Act shall take effect 27
October 1, 2023. Section 3 of this Act shall remain effective for a period of 3 years and, at 28
the end of September 30, 2026, Section 3 of this Act, with no further action required by the 29
General Assembly, shall be abrogated and of no further force and effect. 30