§ 12-114. Charles County rental transfer exemption

   (a) "Rental dwelling" defined. -- In this section, "rental dwelling" means residential real property with accommodations for not more than 4 units that is held by the owner primarily for rental, investment, or the generation of income and is located in a targeted area designated by the governing body of Charles County under § 9-310(c) of this article.

(b) Exemption authority. -- The governing body of Charles County may grant, by law, an exemption, in whole or in part, from the recordation tax imposed on an instrument of writing that transfers a rental dwelling in Charles County to an individual who will occupy the property as a principal residence.

(c) Requirements for exemption. -- To qualify for the exemption authorized under this section, the instrument of writing shall be accompanied by:

   (1) a statement under oath signed by the grantor that the property has been held by the grantor as a rental dwelling; and

   (2) a statement under oath signed by the grantee that the residence will be occupied by the grantee as the grantee's principal residence.

(d) Amount; duration; implementation. -- The governing body of Charles County may provide by law for:

   (1) any additional criteria for eligibility, conditions, or restrictions for an exemption provided under this section;

   (2) provisions to define, fix, or limit the amount, terms, and scope of an exemption provided under this section; and

   (3) any other provision appropriate to implement the exemption.

HISTORY: 1999, ch. 547.