Bill > SB424

This bill repeals a requirement that for fiscal years 2027, 2028, and 2029, $25,000,000 of the money collected from the state transfer tax and deposited into a special fund dedicated to land preservation programs be instead transferred to the State's General Fund, which is the state's main operating budget. The special fund, established under Maryland law, receives revenue from the transfer tax, which is a tax on the sale of real property, after certain administrative costs and bond payments are covered. This bill ensures that the full balance of this special fund, after these prior obligations, will continue to be allocated to land preservation programs as outlined in the law, rather than diverting a portion to the General Fund during those specific fiscal years.

Budget and Finance

https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/SB0424?ys=2026RS