State Transfer Tax - Temporary Suspension

HB 1398 suspends Maryland's state transfer tax on property transactions for three years, from July 1, 2026, through June 30, 2029. This directly affects individuals and businesses transferring property through deeds, sales, or other recorded instruments during that period. The bill amends Maryland's tax code to exclude these transactions from the standard transfer tax requirement, applying to both county circuit court recordings and Department filings. It does not change the tax rate or permanent rules, only temporarily halting the tax collection during the specified window. The suspension applies to all qualifying property transfers within the defined timeframe.