Expedited Bill No. -'1""'0-'-1'-'-1_ _ __
Concerning:
Recordation
Tax
Allocation of Revenue
Revised: March 31! 2011 Draft No._1_
Introduced:
April 5. 2011
Enacted:
May 18. 2011
Executive: _ _ _ _ _ _ _ __
Effective:
Sunset Da-te-:--:"":N-o-ne-------
Ch. _ _, Laws of Mont. Co. _ __
COUNTY COUNCIL
FOR MONTGOMERY COUNTY, MARYLAND
By: Council President at the Request ofthe County Executive
AN EXPEDITED ACT
to:
1)
revise the allocation of certain revenue received from the recordation tax; and
2)
generally amend County law related to the recordation tax.
By amending
Laws of Montgomery County 2010
Chapter 19
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Heading or defined term.
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Added by amendment.
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Existing law unaffected by bill.
The County Council for Montgomery County, Maryland, approves the following Act:
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EXPEDITED BILL
No. 10-11
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Sec.
I.
Chapter 19 of the Laws of Montgomery County 2010 is amended
as follows:
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Sec. 3. Allocation of Revenue.
During any fiscal year that begins on or after
July 1, [2011] 2012, the net revenue attributable to the increase in the rate of the
recordation tax enacted in this Act must be reserved for and allocated equally to:
(a) the cost ofCounty government capital improvements; and
(b)
rental assistance programs for low- and moderate-income
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households, which must not be used to supplant any otherwise
available funds.
Sec. 2. Expedited Effective Date.
The Council declares that this legislation is necessary for the immediate
protection of the public interest. This Act takes effect on the date when it becomes
law.
Approved:
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Valerie Ervin, President,
Approved:
ty Council
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Isiah Leggett, County Executive
This is a correct copy of Council action.
Date
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Linda M. Lauer, Clerk ofthe
Date
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