MD HB1428

Imposes a 50% excise tax on the fair market value when applicable entities (corporations, LLCs, partnerships, REITs managing pooled investor funds) acquire single-family residences in Maryland

Requires hedge fund taxpayers ($50 million+ in assets) to divest all Maryland single-family homes over 4 years, reducing holdings by 20% annually; other applicable taxpayers must reduce to a maximum of 25 properties over the same period

Imposes a $10,000 annual penalty per property for each single-family residence owned above the permitted maximum

Increases the State transfer tax to 15% (from 0.5%) for sales of single-family residential property to real estate enterprises owning more than 120 single-family properties or properties with total assessed value exceeding $12 million

Creates a 30-day first-right-of-purchase period requiring sellers of single-family homes to accept offers only from individuals, nonprofits, community development organizations, or small real estate enterprises (owning less than 3% of county residential properties)

Establishes a Down Payment and Settlement Expense Loan Program Fund to receive excise tax revenue, providing financing to help eligible homebuyers with down payments and closing costs