EXPLANATION: CAPITALS INDICATE MAT TER ADDED TO EXISTIN G LAW.
[Brackets] indicate matter deleted from existing law.
*sb0510*
SENATE BILL 510
Q7, C9 5lr3243
CF 5lr1138
By: Senator Henson
Introduced and read first time: January 23, 2025
Assigned to: Budget and Taxation
A BILL ENTITLED
AN ACT concerning 1
Excess Ownership of Single–Family Residences Excise Tax 2
(End Hedge Fund Control of Maryland Homes Act of 2025) 3
FOR the purpose of imposing an excise tax on the acquisition and excess ownership of 4
certain single–family residences in the State by certain entities; providing for the 5
calculation, collection, and distribution of the excise tax; establishing the Down 6
Payment and Settlement Expense Loan Program Fund as a special, nonlapsing fund; 7
and generally relating to an excise tax on the acquisition and excess ownership of 8
single–family residences. 9
BY repealing and reenacting, without amendments, 10
Article – Housing and Community Development 11
Section 4–302 and 4–303 12
Annotated Code of Maryland 13
(2019 Replacement Volume and 2024 Supplement) 14
BY adding to 15
Article – Housing and Community Development 16
Section 4–310 17
Annotated Code of Maryland 18
(2019 Replacement Volume and 2024 Supplement) 19
BY repealing and reenacting, without amendments, 20
Article – Tax – General 21
Section 1–101(a) 22
Annotated Code of Maryland 23
(2022 Replacement Volume and 2024 Supplement) 24
BY adding to 25
Article – Tax – General 26 2 SENATE BILL 510
Section 1–101(g–2); 2–4B–01 and 2–4B–02 to be under the new subtitle “Subtitle 4B. 1
Excess Ownership of Single–Family Residences Excise Tax Re venue 2
Distribution”; 7.7–101 through 7.7–301 to be under the new title “Title 7.7. 3
Excess Ownership of Single–Family Residences Excise Tax”; and 13–1001(h) 4
Annotated Code of Maryland 5
(2022 Replacement Volume and 2024 Supplement) 6
BY repealing and reenacting, with amendments, 7
Article – Tax – General 8
Section 1–101(g–2), 2–102(a), 13–201(4), 13–508(a) and (c), 13–509, and 13–1002 9
Annotated Code of Maryland 10
(2022 Replacement Volume and 2024 Supplement) 11
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 12
That the Laws of Maryland read as follows: 13
Article – Housing and Community Development 14
4–302. 15
There is a Down Payment and Settlement Expense Loan Program. 16
4–303. 17
The purpose of the Program is to provide financing for down payment and settlement 18
expenses to enable eligible homebuyers to purchase homes. 19
4–310. 20
(A) IN THIS SECTION, “PROGRAM FUND” MEANS THE DOWN PAYMENT AND 21
SETTLEMENT EXPENSE LOAN PROGRAM FUND. 22
(B) THERE IS A DOWN PAYMENT AND SETTLEMENT EXPENSE LOAN 23
PROGRAM FUND. 24
(C) THE PURPOSE OF THE PROGRAM FUND IS TO SUPPORT TH E DOWN 25
PAYMENT AND SETTLEMENT EXPENSE LOAN PROGRAM. 26
(D) THE DEPARTMENT SHALL ADMI NISTER THE PROGRAM FUND. 27
(E) (1) THE PROGRAM FUND IS A SPECIAL, NONLAPSING FUND THAT IS 28
NOT SUBJECT TO § 7–302 OF THE STATE FINANCE AND PROCUREMENT ARTICLE. 29
(2) THE STATE TREASURER SHALL HOLD THE PROGRAM FUND 30
SEPARATELY, AND THE COMPTROLLER SHALL ACC OUNT FOR THE PROGRAM FUND. 31 SENATE BILL 510 3
(F) THE PROGRAM FUND CONSISTS OF : 1
(1) REVENUE DISTRIBUTED TO THE PROGRAM FUND UNDER § 2
2–4B–02 OF THE TAX – GENERAL ARTICLE; 3
(2) MONEY APPROPRIATED I N THE STATE BUDGET TO THE PROGRAM 4
FUND; AND 5
(3) ANY OTHER MONEY FROM ANY OTHER SOURCE ACC EPTED FOR 6
THE BENEFIT OF THE PROGRAM FUND. 7
(G) THE PROGRAM FUND MAY BE USED ONLY TO PROVIDE FINANCING FOR 8
DOWN PAYMENT AND SETT LEMENT EXPENSES TO E NABLE ELIGIBLE HOMEB UYERS 9
TO PURCHASE HOMES . 10
(H) (1) THE STATE TREASURER SHALL INVES T THE MONEY OF THE 11
PROGRAM FUND IN THE SAME MANN ER AS OTHER STATE MONEY MAY BE IN VESTED. 12
(2) ANY INTEREST EARNINGS OF THE PROGRAM FUND SHALL BE 13
CREDITED TO THE GENERAL FUND OF THE STATE. 14
(I) EXPENDITURES FROM THE PROGRAM FUND MAY BE MADE ONLY IN 15
ACCORDANCE WITH THE STATE BUDGET . 16
(J) MONEY EXPENDED FROM T HE PROGRAM FUND FOR THE DOWN 17
PAYMENT AND SETTLEMENT EXPENSE LOAN PROGRAM IS SUPPLEMENTAL TO AN D 18
IS NOT INTENDED TO T AKE THE PLACE OF FUN DING THAT OTHERWISE WOULD BE 19
APPROPRIATED FOR THE PROGRAM. 20
Article – Tax – General 21
1–101. 22
(a) In this article the following words have the meanings indicated. 23
(G–2) “EXCESS OWNERSHIP OF SINGLE–FAMILY RESIDENCES EX CISE TAX” 24
MEANS THE TAX IMPOSE D UNDER TITLE 7.7 OF THIS ARTICLE. 25
[(g–2)] (G–3) (1) “Executive Director” means the Executive Director of the 26
Alcohol, Tobacco, and Cannabis Commission. 27
(2) “Executive Director” includes a deputy, an inspector, or any other 28
individual acting within the scope of the Executive Director’s authority. 29 4 SENATE BILL 510
2–102. 1
(a) In addition to the duties set forth elsewhere in this article and in other articles 2
of the Code, the Comptroller shall administer the laws that relate to: 3
(1) the admissions and amusement tax; 4
(2) the boxing and wrestling tax; 5
(3) the digital advertising gross revenues tax; 6
(4) THE EXCESS OWNERSHIP OF SINGLE–FAMILY RESIDENCES EX CISE 7
TAX; 8
(5) the income tax; 9
[(5)] (6) the Maryland estate tax; 10
[(6)] (7) the Maryland generation–skipping transfer tax; 11
[(7)] (8) the motor carrier tax; 12
[(8)] (9) the motor fuel tax; 13
[(9)] (10) the sales and use tax; and 14
[(10)] (11) the savings and loan association franchise tax. 15
SUBTITLE 4B. EXCESS OWNERSHIP OF SINGLE–FAMILY RESIDENCES EXCISE TAX 16
REVENUE DISTRIBUTION. 17
2–4B–01. 18
FROM THE EXCESS OWNER SHIP OF SINGLE–FAMILY RESIDENCES EX CISE TAX 19
REVENUE, THE COMPTROLLER SHALL DIS TRIBUTE THE AMOUNT N ECESSARY TO 20
ADMINISTER THE EXCES S OWNERSHIP OF SINGLE –FAMILY RESIDENCES EX CISE TAX 21
TO AN ADMINISTRATIVE COST ACCOUNT . 22
2–4B–02. 23
AFTER MAKING THE DIST RIBUTION REQUIRED UN DER § 2–4B–01 OF THIS 24
SUBTITLE, THE COMPTROLLER SHALL DIS TRIBUTE THE REMAININ G EXCESS 25
OWNERSHIP OF SINGLE –FAMILY RESIDE NCES EXCISE TAX TO T HE DOWN PAYMENT 26 SENATE BILL 510 5
AND SETTLEMENT EXPENSE LOAN PROGRAM FUND ESTABLISHED UNDE R § 4–310 1
OF THE HOUSING AND COMMUNITY DEVELOPMENT ARTICLE. 2
TITLE 7.7. EXCESS OWNERSHIP OF SINGLE–FAMILY RESIDENCES EXCISE TAX. 3
SUBTITLE 1. DEFINITIONS; GENERAL PROVISIONS. 4
7.7–101. 5
(A) IN THIS TITLE THE FOL LOWING WORDS HAVE TH E MEANINGS 6
INDICATED. 7
(B) “APPLICABLE DATE ” MEANS: 8
(1) FOR AN APPLICABLE TA XPAYER THAT BECOMES A HEDGE FUND 9
TAXPAYER AFTER JULY 1, 2025, THE LAST DAY OF THE TAXABLE YEAR IMMEDIA TELY 10
PRECEDING THE TAXABL E YEAR THAT THE APPL ICABLE TAXPAYER BECO MES A 11
HEDGE FUND TAXPAYER ; AND 12
(2) FOR ANY OTHER APPLIC ABLE TAXPAYER , THE LAST DAY OF THE 13
FIRST FULL TAXABLE Y EAR ENDING ON OR AFT ER JULY 1, 2025. 14
(C) (1) “APPLICABLE ENTITY ” MEANS: 15
(I) A CORPORATION ; 16
(II) A LIMITED LIABILITY COMPANY; 17
(III) A PARTNERSHIP ; OR 18
(IV) A REAL ESTATE INVEST MENT TRUST. 19
(2) “APPLICABLE ENTITY ” DOES NOT INCLUDE : 20
(I) AN ORGANIZATION DESC RIBED UNDER § 501(C)(3) OF THE 21
INTERNAL REVENUE CODE AND EXEM PT FROM TAXATION UND ER § 501(A) OF THE 22
INTERNAL REVENUE CODE; OR 23
(II) AN ORGANIZATION PRIM ARILY ENGAGED IN THE 24
CONSTRUCTION OR REHA BILITATION OF SINGLE –FAMILY RESIDENCES . 25
(D) “APPLICABLE SINGLE –FAMILY RESIDENCE ” MEANS A SINGLE –FAMILY 26
RESIDENCE ACQUIR ED BY AN APPLICABLE TAXPAYER BEFORE JULY 1, 2025. 27 6 SENATE BILL 510
(E) “APPLICABLE TAXPAYER ” MEANS AN APPLICABLE ENTITY THAT: 1
(1) MANAGES FUNDS POOLED FROM INVESTORS ; AND 2
(2) IS A FIDUCIARY OF TH E INVESTORS. 3
(F) “DISQUALIFIED SALE ” MEANS A SALE OR TRAN SFER TO: 4
(1) A CORPORATION OR OTH ER ENTITY ENGAGED IN A TRADE OR 5
BUSINESS; OR 6
(2) AN INDIVIDUAL WHO OW NS ANOTHER SINGLE –FAMILY RESIDENCE 7
AT THE TIME OF THE S ALE OR TRANSFER . 8
(G) “HEDGE FUND TAXPAYER ” MEANS AN APPLICABLE TAXPAYER THAT HAS 9
$50,000,000 OR MORE IN NET VALUE OR ASSET S UNDER MANAGEMENT O N ANY DAY 10
DURING A TAXABLE YEA R. 11
(H) (1) “SINGLE–FAMILY RESIDENCE ” MEANS A RESIDENTIAL PROPERTY 12
CONSISTING OF ONE TO FOUR DWELLING UNITS LOCATED IN THE STATE. 13
(2) “SINGLE–FAMILY RESIDENCE ” DOES NOT INCLUDE : 14
(I) AN UNOCCUPIED SINGLE –FAMILY RESIDENCE ACQ UIRED 15
THROUGH FORECLOSURE ; 16
(II) A SINGLE–FAMILY RESIDENCE THA T IS: 17
1. NOT RENTED OR LEASED ; AND 18
2. USED AS THE PRINCIPA L RESIDENCE OF ANY P ERSON 19
WHO HAS AN OWNERSHIP INTEREST IN THE APPL ICABLE TAXPAYER THAT OWNS THE 20
SINGLE–FAMILY RESIDENCE ; OR 21
(III) A SINGLE–FAMILY RESIDENCE CON STRUCTED, ACQUIRED, 22
OR OPERATED WITH FED ERAL OR STATE FUNDS. 23
(I) “TAXABLE YEAR” MEANS A CALENDAR YEA R ENDING ON DECEMBER 31. 24
7.7–102. 25
SENATE BILL 510 7
(A) (1) AN EXCISE TAX IS IMPO SED ON THE ACQUISITI ON OF A 1
SINGLE–FAMILY RESIDENCE BY AN APPLICABLE TAXPAY ER DURING A TAXABLE 2
YEAR. 3
(2) THE EXCISE TAX RATE I MPOSED UNDER THIS SU BSECTION IS 4
EQUAL TO 50% OF THE FAIR MARKET V ALUE OF THE SINGLE –FAMILY RESIDENCE . 5
(3) AN APPLICABLE TAXPAYE R SHALL BE TREATED A S ACQUIRING A 6
SINGLE–FAMILY RESIDENCE IF THE APPLICABLE TAXPA YER ACQUIRES A MAJOR ITY 7
OWNERSHIP INTEREST I N THE SINGLE–FAMILY RESIDENCE , REGARDLESS OF THE 8
PERCENTAGE OF THAT O WNERSHIP INTEREST . 9
(B) (1) AN EXCISE TAX IS IMPOSED ON AN APPLICABLE TAXPAY ER THAT 10
FAILS TO SATISFY THE REQUIREMENT UNDER § 7.7–103(A) OF THIS SUBTITLE. 11
(2) THE EXCISE TAX IMPOSE D UNDER PARAGRAPH (1) OF THIS 12
SUBSECTION IS EQUAL TO THE PRODUCT OF : 13
(I) $10,000; AND 14
(II) THE DIFFERE NCE BETWEEN : 15
1. THE NUMBER OF APPLIC ABLE SINGLE –FAMILY 16
RESIDENCES OWNED BY THE APPLICABLE TAXPA YER AS OF THE LAST D AY OF THE 17
TAXABLE YEAR ; AND 18
2. A. FOR AN APPLICABLE TA XPAYER, THE MAXIMUM 19
NUMBER OF SINGLE –FAMILY RESIDENCES UN DER § 7.7–103(B) OF THIS SUBTITLE; 20
AND 21
B. FOR A HEDGE FUND TAX PAYER, THE MAXIMUM 22
NUMBER OF SINGLE –FAMILY RESIDENCES UN DER § 7.7–103(C) OF THIS SUBTITLE. 23
7.7–103. 24
(A) (1) AN APPLICABLE TAXPAYE R SATISFIES THE REQU IREMENTS OF 25
THIS SECTION IF THE NUMBER OF APPLICABLE SINGLE–FAMILY RESIDENCES 26
OWNED BY THE APPLICA BLE TAXPAYER AS OF T HE LAST DAY OF THE T AXABLE YEAR 27
IS EQUAL TO OR LESS THAN THE MAXIMUM NUM BER PERMISSIBLE UNDE R 28
SUBSECTION (B) OR (C) OF THIS SECTION. 29
(2) A SINGLE–FAMILY RESIDENCE THA T IS SOLD OR TRANSFE RRED IN 30
A DISQUALIFIED SALE DURING THE TAXABLE Y EAR IS TREATED AS A SINGLE–FAMILY 31 8 SENATE BILL 510
RESIDENCE OWNED BY T HE APPLICABLE TAXPAY ER AS OF THE LAST DA Y OF THE 1
TAXABLE YEAR . 2
(3) AN APPLICABLE TAXPAYE R SHALL BE TREATED A S OWNING A 3
SINGLE–FAMILY RESIDENCE IF THE APPLICA BLE TAXPAYER OWNS A MAJORITY 4
OWNERSHIP INTEREST I N THE SINGLE–FAMILY RESIDENCE , REGARDLESS OF THE 5
PERCENTAGE OF THAT O WNERSHIP INTEREST . 6
(B) EXCEPT AS PROVIDED IN SUBSECTION (C) OF THIS SECTION , FOR ANY 7
TAXABLE YEAR , THE MAXIMUM NUMBER O F SINGLE–FAMILY RESIDENCES THAT AN 8
APPLICABLE TAXPAYER MAY OWN IS: 9
(1) FOR THE FIRST FULL T AXABLE YEAR BEGINNIN G AFTER THE 10
APPLICABLE DATE , 25 PLUS 80% OF THE NUMBER OF APP LICABLE SINGLE –FAMILY 11
RESIDENCES OWNED BY THE APPLICABLE TAXPA YER ON THE APPLICABL E DATE; 12
(2) FOR THE SECOND FULL TAXABLE YEAR BEGINNI NG AFTER THE 13
APPLICABLE DATE , 25 PLUS 60% OF THE NUMBER OF APP LICABLE SINGLE –FAMILY 14
RESIDENCES OWNED BY THE APPLICABLE TAXPA YER ON THE APPLICABL E DATE; 15
(3) FOR THE THIRD FULL T AXABLE YEAR BEGINNIN G AFTER THE 16
APPLICABLE DATE, 25 PLUS 40% OF THE NUMBER OF APP LICABLE SINGLE –FAMILY 17
RESIDENCES OWNED BY THE APPLICABLE TAXPA YER ON THE APPLICABL E DATE; 18
(4) FOR THE FOURTH FULL TAXABLE YEAR BEGINNI NG AFTER THE 19
APPLICABLE DATE , 25 PLUS 20% OF THE NUMBER OF APP LICABLE SINGL E–FAMILY 20
RESIDENCES OWNED BY THE APPLICABLE TAXPA YER ON THE APPLICABL E DATE; 21
AND 22
(5) FOR ANY TAXABLE YEAR BEGINNING MORE THAN 4 YEARS AFTER 23
THE APPLICABLE DATE , 25. 24
(C) THE MAXIMUM NUMBER OF SINGLE–FAMILY RESIDENCES TH AT A 25
HEDGE FUND TAXPAYER MAY OWN IS: 26
(1) FOR THE FIRST FULL T AXABLE YEAR BEGINNIN G AFTER THE 27
APPLICABLE DATE , 80% OF THE NUMBER OF APP LICABLE SINGLE –FAMILY 28
RESIDENCES OWNED BY THE HEDGE FUND TAXPA YER ON THE APPLICABL E DATE; 29
(2) FOR THE SECOND FULL TAXABLE YEAR BEGINNI NG AFTER THE 30
APPLICABLE DATE , 60% OF THE NUMBER OF APP LICABLE SINGLE –FAMILY 31
RESIDENCES OWNED BY THE HEDGE FUND TAXPA YER ON THE APPLICABL E DATE; 32
SENATE BILL 510 9
(3) FOR THE THIRD FULL T AXABLE YEAR BEGINNIN G AFTER THE 1
APPLICABLE DATE , 40% OF THE NUMBER OF APP LICABLE SINGLE –FAMILY 2
RESIDENCES OWNED BY THE H EDGE FUND TAXPAYER O N THE APPLICABLE DAT E; 3
(4) FOR THE FOURTH FULL TAXABLE YEAR BEGINNI NG AFTER THE 4
APPLICABLE DATE , 20% OF THE NUMBER OF APP LICABLE SINGLE –FAMILY 5
RESIDENCES OWNED BY THE HEDGE FUND TAXPA YER ON THE APPLICABL E DATE; 6
AND 7
(5) FOR ANY TAXABLE YEAR BEGINNING MORE THAN 4 YEARS AFTER 8
THE APPLICABLE DATE , 0. 9
7.7–104. 10
THE COMPTROLLER SHALL ADO PT REGULATIONS TO CA RRY OUT THE 11
PROVISIONS OF THIS T ITLE. 12
SUBTITLE 2. RETURNS, REPORTS, AND CERTIFICATIONS. 13
7.7–201. 14
(A) AN APPLICABLE TAXPAYER SHALL COMPLETE , UNDER OATH , AND FILE 15
WITH THE COMPTROLLER AN EXCESS OWNERSHIP OF SINGLE –FAMILY RESIDENCES 16
EXCISE TAX RETURN , REPORT, AND CERTIFICATION FO R EACH TAXABLE YEAR . 17
(B) (1) THE COMPTROLLER SHALL REQ UIRE AN APPLICABLE T AXPAYER 18
TO REPORT WITH THE R ETURN REQUIRED UNDER SUBSECTION (A) OF THIS SECTION 19
THE INFORMATION THAT THE COMPTROLLER DETERMINE S IS NECESSARY TO 20
CARRY OUT THE PROVIS IONS OF THIS TITLE. 21
(2) THE REPORT REQUIRED U NDER PARAGRAPH (1) OF THIS 22
SUBSECTION SHALL , AT A MINIMUM, INCLUDE: 23
(I) THE DATES ON WHICH S INGLE–FAMILY RESIDENCES OW NED 24
BY AN APPLICABLE TAX PAYER WERE ACQUIRED BY THE APPLICABLE TA XPAYER; 25
AND 26
(II) WHETHER A PERSON ACQ UIRING THE SINGLE –FAMILY 27
RESIDENCE FROM AN AP PLICABLE TAXPAYER OW NS ANY OTHER SI NGLE–FAMILY 28
RESIDENCE AT THE TIM E OF THE ACQUISITION . 29
(C) (1) IF AN APPLICABLE TAXP AYER SOLD OR TRANSFE RRED A 30
SINGLE–FAMILY RESIDENCE DUR ING THE TAXABLE YEAR , THE APPLICABLE 31 10 SENATE BILL 510
TAXPAYER SHALL INCLU DE WITH THE RETURN R EQUIRED UNDER SUBSEC TION (A) 1
OF THIS SE CTION A CERTIFICATIO N FROM EACH INDIVIDU AL TO WHOM A 2
SINGLE–FAMILY RESIDENCE IS SOLD OR TRANSFERRED . 3
(2) THE CERTIFICATION REQ UIRED UNDER THIS SUB SECTION SHALL 4
BE SIGNED BY THE PUR CHASER OR TRANSFEREE AND STATE THE FOLLOW ING: 5
(I) THE NAME AND ADDRE SS OF THE PURCHASER OR 6
TRANSFEREE ; AND 7
(II) THE SALE IS NOT A DI SQUALIFIED SALE . 8
7.7–202. 9
AN APPLICABLE TAXPAYE R REQUIRED TO FILE A RETURN UNDER § 7.7–201 OF 10
THIS SUBTITLE SHALL MAINTAIN RECORDS OF ANY SINGLE–FAMILY RESIDENCE 11
OWNED OR SOLD BY THE APPLICABLE TAXPAYER DURING THE TAXABLE Y EAR. 12
SUBTITLE 3. TAX PAYMENT. 13
7.7–301. 14
(A) AN APPLICABLE TAXPAYE R REQUIRED TO FILE A RETURN UNDER § 15
7.7–201 OF THIS TITLE SHALL PAY THE EXCESS OWNER SHIP OF SINGLE –FAMILY 16
RESIDENCES EXCISE TA X WITH THE RETURN . 17
(B) IF A CORPORATION , OTHER THAN A NONSTOC K, NONPROFIT 18
CORPORATION , IS REQUIRED TO PAY T HE EXCESS OWNERSHIP OF SINGLE–FAMILY 19
RESIDENCES EXCISE TA X, PERSONAL LIABILITY F OR THE TAX AND INTER EST AND 20
PENALTIES ON THE TAX EXTENDS TO ANY OFFIC ER OF THE CORPORATI ON WHO 21
EXERCISES DIRECT CON TROL OVER ITS FISCAL MANAGEMENT . 22
(C) IF A LIMITED LIABILIT Y COMPANY , OR LIMITED LIABILITY 23
PARTNERSHIP , INCLUDING A LIMITED PARTNERSHIP REGISTER ED AS A LIMITED 24
LIABILITY LIMITED PA RTNERSHIP, IS REQUIRED TO PAY T HE EXCESS OWNERSH IP OF 25
SINGLE–FAMILY RESIDENCES EX CISE TAX, PERSONAL LIABILITY F OR THE TAX AND 26
INTEREST AND PENALTI ES ON THE TAX EXTEND S TO ANY PERSON WHO EXERCISES 27
DIRECT CONTROL OVER THE FISCAL MANAGEMEN T OF THE LIMITED LIA BILITY 28
COMPANY OR LIMITED L IABILITY PARTNERSHIP . 29
13–201. 30
In this subtitle, “tax information” means: 31
SENATE BILL 510 11
(4) any information contained in: 1
(i) an admissions and amusement tax return; 2
(ii) an alcoholic beverage tax return; 3
(iii) a bay restoration fee return; 4
(iv) a boxing and wrestling tax return; 5
(v) a digital advertising gross revenues tax return; 6
(vi) an E–9–1–1 fee return; 7
(vii) AN EXCESS OWNERSHIP OF SINGLE–FAMILY RESIDENCES 8
EXCISE TAX RETURN ; 9
(VIII) a financial institution franchise tax return; 10
[(viii)] (IX) an inheritance tax return; 11
[(ix)] (X) a Maryland estate tax return; 12
[(x)] (XI) a motor carrier tax return; 13
[(xi)] (XII) a motor fuel tax return; 14
[(xii)] (XIII) an other tobacco products tax return; 15
[(xiii)] (XIV) a public service company franchise tax return; 16
[(xiv)] (XV) a sales and use tax return; 17
[(xv)] (XVI) a savings and loan association franchise tax return; 18
[(xvi)] (XVII) a tire recycling fee return; 19
[(xvii)] (XVIII) a tobacco tax return; or 20
[(xviii)] (XIX) a transportation services assessment return. 21
13–508. 22
(a) Within 30 days after the date on which a notice of assessment of the 23
admissions and amusement tax, alcoholic beverage tax, boxing and wrestling tax, income 24
tax, motor carrier tax, motor fuel tax, public service company franchise tax, EXCESS 25 12 SENATE BILL 510
OWNERSHIP OF SINGLE –FAMILY RESIDENCES EX CISE TAX, financial institution 1
franchise tax, sales and use tax, or tobacco tax is mailed, a person or governmental unit 2
against which the assessment is made may submit to the tax collector: 3
(1) an application for revision of the assessment; or 4
(2) except for the public service company franchise tax, if the assessment 5
is paid, a claim for refund. 6
(c) The Comptroller or an employee of the Comptroller’s office expressly 7
designated by the Comptroller promptly: 8
(1) (i) shall hold an informal hearing on a person’s or governmental 9
unit’s admissions and amusement tax, alcoholic beverage tax, boxing and wrestling tax, 10
EXCESS OWNERSHIP OF SINGLE–FAMILY RESIDENCES EX CISE TAX, income tax, motor 11
carrier tax, motor fuel tax, sales and use tax, or tobacco tax application for revision or claim 12
for refund under subsection (a) of this section; and 13
(ii) after the hearing: 14
1. shall act on the application for revision; and 15
2. may assess any additional tax, penalty, and interest due; 16
and 17
(2) shall mail to the person or governmental unit a notice of final 18
determination. 19
13–509. 20
(a) Notwithstanding a person’s failure to file a timely application for revision or 21
claim for refund of an assessment of the admissions and amusement tax, alcoholic beverage 22
tax, boxing and wrestling tax, EXCESS OWNERSHIP OF SINGLE–FAMILY RESIDENCES 23
EXCISE TAX, income tax, motor carrier tax, motor fuel tax, sales and use tax, or tobacco 24
tax under § 13–508(a) of this subtitle, the Comptroller or the Comptroller’s designee may 25
issue an order decreasing or abating an assessment to correct an erroneous assessment. 26
(b) If action is taken under subsection (a) of this section, the order shall state 27
clearly the reasons for decreasing or abating the assessment. 28
(c) Any order issued by the Comptroller under subsection (a) of this section shall 29
be final and not subject to appeal. 30
(d) The Comptroller’s refusal to enter an order under subsection (a) of this section 31
shall be final and not subject to appeal. 32
13–1001. 33 SENATE BILL 510 13
(H) A PERSON WHO IS REQUIR ED TO FILE AN EXCESS OWNERSHIP OF 1
SINGLE–FAMILY RESIDENCES EX CISE TAX RETURN AND WHO WILLFULLY FAILS TO 2
FILE THE RETURN AS R EQUIRED UNDER TITLE 7.7 OF THIS ARTICL E IS GUILTY OF A 3
MISDEMEANOR AND , ON CONVICTION , IS SUBJECT TO A FINE NOT EXCEEDING $5,000 4
OR IMPRISONMENT NOT EXCEEDING 5 YEARS OR BOTH . 5
13–1002. 6
(a) A person who willfully files a false alcoholic beverage tax return is guilty of 7
perjury and, on conviction, is subject to the penalty for perjury. 8
(b) A person, including an officer of a corporation, who willfully files a false digital 9
advertising gross revenues tax return, a false financial institution franchise tax return, a 10
false public service company franchise tax return, or a false income tax return with the 11
intent to evade the payment of tax due under this article is guilty of perjury and, on 12
conviction, is subject to the penalty for perjury. 13
(c) Subsections (a) and (b) of this section apply to the alcoholic beverage, digital 14
advertising gross revenues, EXCESS OWNERSHIP OF SINGLE–FAMILY RESIDENCES 15
EXCISE, financial institution franchise, public service company franchise, and income 16
taxes. 17
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect July 18
1, 2025. 19