Maryland HB609 allocates transfer tax revenue to land preservation programs and the General Fund.

Maryland HB609 specifies the allocation of transfer tax revenue for fiscal years 2026 through 2029. The bill allocates 75.15% of the revenue to Program Open Space land acquisition, 17.05% to the Agricultural Land Preservation Fund, 5% to the Rural Legacy Program, and 1.8% to the Heritage Conservation Fund. The remaining revenue is allocated to the General Fund of the State. The bill also mandates that any appropriation or transfer from the special fund to the General Fund must be reimbursed by the Governor in subsequent annual budget bills. The act takes effect July 1, 2026.

Maryland HB609 allocates transfer tax revenue to land preservation programs and the General Fund.

Maryland HB609 specifies the allocation of transfer tax revenue for fiscal years 2026 through 2029. The bill allocates 75.15% of the revenue to Program Open Space land acquisition, 17.05% to the Agricultural Land Preservation Fund, 5% to the Rural Legacy Program, and 1.8% to the Heritage Conservation Fund. The remaining revenue is allocated to the General Fund of the State. The bill also mandates that any appropriation or transfer from the special fund to the General Fund must be reimbursed by the Governor in subsequent annual budget bills. The act takes effect July 1, 2026.