Expedited Bill No.
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Concerning:
Recordation
Tax
Allocation of Revenue
Revised: March 31. 2011 Draft NO._1_
Introduced:
April 5, 2011
Enacted:
May 18, 2011
Executive:
May 31! 2011
Effective:
May 31,2011
Sunset Date: -=.N..:.;:o:.;..:n=e_ _ _ _ __
Ch. _8_, Laws of Mont. Co.
2011
COUNTY COUNCIL
FOR MONTGOMERY COUNTY, MARYLAND
By: Council President at the Request of the 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.
Deletedfrom existing law or the bill by amendment.
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
Sec.
1.
Chapter 19 of the Laws of Montgomery County 2010 is amended
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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)
(b)
the cost ofCounty government capital improvements; and
rental assistance programs for low- and moderate-income
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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Approved:
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This is a correct copy of Council action.
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Linda M. Lauer, Clerk ofthe Council
Date
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