Maryland HB571 exempts nonprofit housing corporations from certain tax and enforcement procedures.
Maryland HB571 amends the state's laws to exempt nonprofit housing corporations from levy and sale by virtue of an execution. It also exempts these corporations from taxes and special assessments of the State or a political subdivision. The bill specifies that a judgment against a nonprofit housing corporation does not become a charge or lien on the corporation's real property used as housing for persons of eligible income. This legislation aims to protect the assets of nonprofit housing corporations that provide safe and sanitary housing to eligible individuals.
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