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§ 13-503. Use of funds

West's Annotated Code of MarylandTax-Property

West's Annotated Code of Maryland
Tax-Property
Title 13. Transfer Taxes
Subtitle 5. Washington County Agricultural Land Transfer Tax
MD Code, Tax - Property, § 13-503
§ 13-503. Use of funds
Currentness
Remittance to county tax collector
(a) The Department shall remit the county agricultural land transfer tax collected by it to the county tax collector.
Special fund
(b) The county tax collector shall deposit in a special fund all of the agricultural land transfer tax collected under this subtitle.
Purchase of development rights
(c) The county agricultural land transfer tax collected under this subtitle may be used only for the purchase of development rights on agricultural land under the county's or foundation's agricultural preservation program.
Minimum standards of agricultural land on which development rights are purchased
(d)(1) Except as provided in paragraph (2) of this subsection, agricultural land on which development rights are purchased under this subtitle must meet the minimum standards set by the foundation under § 2-509(d) of the Agriculture Article.
(2) In lieu of any acreage requirements set by the foundation under § 2-509(d) of the Agriculture Article, agricultural land on which development rights are purchased under this subtitle must be of significant size to promote an agricultural operation.
Construction
(e) This section may not be construed to prohibit any county from accepting funds from private sources and using those private funds to purchase development rights on agricultural land.

Credits

Added by Acts 1991, c. 528. Amended by Acts 2003, c. 21, § 6, eff. April 8, 2003.
MD Code, Tax - Property, § 13-503, MD TAX PROPERTY § 13-503
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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