Bill > HB609

This bill repeals a requirement that for fiscal years 2027, 2028, and 2029, $25,000,000 of the revenue collected from the state transfer tax, which is deposited into a special fund dedicated to land preservation programs, would be transferred to the State's General Fund. The special fund, established under Maryland law, receives revenue from the transfer tax after certain administrative costs and bond payments are covered. This change means that the full balance of this special fund, not otherwise obligated, will continue to be allocated to land preservation programs like Program Open Space, the Agricultural Land Preservation Fund, and the Rural Legacy Program, rather than a portion being diverted to the General Fund during those specific fiscal years. The bill also removes a provision that would have exempted transfers made in fiscal years 2026 through 2029 from a requirement to reimburse the special fund in subsequent years, and it specifies that the act takes effect on July 1, 2026.

Budget and Finance

https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB0609?ys=2026RS