Bill > HB1345

This bill has two key provisions: 1. For the first 30 days after a person offers certain single-family residential real property for sale, they can only accept offers from individuals, community development organizations, nonprofit organizations, or real estate enterprises that own less than 10% of all residential real property in the county where the property is located. This aims to give these types of buyers priority access to the property. 2. The bill increases the state transfer tax rate from 0.5% to 15% for the sale of improved, single-family residential real property to a real estate enterprise or its subsidiary that owns more than $12 million in assessed residential real property in the state or more than 120 single-family residential properties. This higher transfer tax rate is intended to discourage the acquisition of single-family homes by large real estate enterprises.

Transportation and Infrastructure

https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB1345?ys=2022RS