Maryland SB424 allocates transfer tax revenue to a special fund for land preservation programs.

Maryland SB424 details the allocation of transfer tax revenue to a special fund dedicated to land preservation programs. The bill specifies that a portion of the revenue is allocated to the General Fund, while the remainder is distributed to various funds, including the Agricultural Land Preservation Fund, the Rural Legacy Program, and the Heritage Conservation Fund. The allocation percentages and specific amounts vary by fiscal year, with adjustments made for debt service and other requirements. The bill also ensures that any sums allocated cannot revert to the General Fund.

Maryland SB424 allocates transfer tax revenue to a special fund for land preservation programs.

Maryland SB424 details the allocation of transfer tax revenue to a special fund dedicated to land preservation programs. The bill specifies that a portion of the revenue is allocated to the General Fund, while the remainder is distributed to various funds, including the Agricultural Land Preservation Fund, the Rural Legacy Program, and the Heritage Conservation Fund. The allocation percentages and specific amounts vary by fiscal year, with adjustments made for debt service and other requirements. The bill also ensures that any sums allocated cannot revert to the General Fund.