MD HB82

Expands the definition of "business entity" for tax exemption purposes to include common law trusts, adding them to the existing list of limited liability companies, corporations, limited partnerships, and statutory trusts.

Broadens the definition of "owner" to include "other persons" as defined in the Corporations and Associations Article, beyond just members, stockholders, limited partners, and beneficial owners.

Extends existing recordation tax and State/county transfer tax exemptions for property transfers between related business entities (parent-subsidiary and reorganization transfers) to now cover common law trusts.

Takes effect July 1, 2026, and applies to instruments of writing recorded on or after that date.