HARRY HUGHES, Governor

447

that related to the transfer tax now appears as §§
13-206 and 13-405 of this article.

Defined terms: "Corporation" § 1-101

"Real property" § 1-101 "Recordation tax" § 12-101

12-107. , TAX ON CERTAIN TANGIBLE PERSONAL PROPERTY.

EXCEPT AS OTHERWISE PROVIDED IN THIS TITLE, THE RECORDATION
TAX APPLIES TO AN INSTRUMENT OF WRITING THAT PERFECTS A SECURITY
INTEREST IN TANGIBLE PERSONAL PROPERTY, STANDING TIMBER, OR
FIXTURES.

REVISOR'S NOTE: This section is new language added to
recognize the administrative practice of taxing
transactions that involve a security interest in
tangible personal property and other personal property
formerly considered as real property. These
provisions do not extend to any transactions involving
intangible personal property. The General Assembly
may wish to consider the addition of this section.

As to the scope of an instrument of writing, note that
the definition includes interests in personal property
and therefore incorporates § 9-105(h) of the Maryland
Uniform Commercial Code that states: "'Goods'
includes movable things, fixtures, standing timber,
the unborn young of animals and growing crops."

Defined terms: "Instrument of writing" § 12-101
"Recordation tax" § 12-101 "Security interest" § 12-101

12-108. EXEMPTIONS FROM TAX.

(A) TRANSFERS TO PUBLIC AGENCY.

(1)  EXCEPT AS PROVIDED IN PARAGRAPH (2) OF THIS
SUBSECTION, AN INSTRUMENT OF WRITING IS NOT SUBJECT TO
RECORDATION TAX, IF THE INSTRUMENT OF WRITING TRANSFERS PROPERTY
TO OR GRANTS A SECURITY INTEREST TO:

(I)  THE UNITED STATES;

(II)  THE STATE;

(III)  AN AGENCY OF THE STATE; OR

(IV)  A POLITICAL SUBDIVISION IN THE STATE.

(2)  THE MAYOR AND CITY COUNCIL OF BALTIMORE CITY OR
THE GOVERNING BODY OF A COUNTY MAY IMPOSE, BY LAW, THE
RECORDATION TAX UNIFORMLY ON ALL INSTRUMENTS OF WRITING THAT
SECURE REPAYMENT OF DEBT CREATED BY THE SALE OF BONDS AUTHORIZED
UNDER ARTICLE 41, §§ 266A THROUGH 266-I OF THE CODE.