MD SB582

Imposes a 50% excise tax on the fair market value of any single-family residence acquired by applicable entities (corporations, LLCs, partnerships, REITs) that manage pooled investor funds

Requires hedge fund taxpayers (those with $50 million+ in assets) to divest all Maryland single-family residences over 4 years, reducing ownership by 20% annually until reaching zero

Establishes a 30-day priority window when single-family homes are listed for sale, during which sellers may only accept offers from individuals, nonprofits, or real estate enterprises owning less than 3% of residential property in that county

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

Creates the Down Payment and Settlement Expense Loan Program Fund to receive revenue from the excise tax, providing financing assistance to eligible homebuyers