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File #: 19-0330    Version: 0 Name: Yield Excise Tax - Tax Rates
Type: Ordinance Status: Enacted
File created: 2/4/2019 In control: City Council
On agenda: Final action: 3/19/2019
Enactment #: 19-233
Title: Yield Excise Tax - Tax Rates For the purpose of amending the tax rates used to calculate the Yield Excise Tax imposed on the tax yield from transactions for which recordation taxes and transfer taxes are due under City Code Article 28, Subtitle 16 and Subtitle 17, respectively; and providing for a special effective date.
Sponsors: City Council President (Administration)
Indexes: Excise Tax, Rate
Attachments: 1. 19-0330~1st Reader, 2. Planning 19-0330, 3. BDC 19-0330, 4. Finance 19-0330, 5. HCD 19-0330, 6. Law 19-0330, 7. 19-0330~3rd Reader, 8. Completed File_19-0330
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
3/25/20190 Mayor Signed by Mayor  Action details Meeting details Not available
3/18/20190 City Council Approved and Sent to the Mayor  Action details Meeting details Not available
3/11/20190 City Council 3rd Reader, for final passage  Action details Meeting details Not available
3/11/20190 Taxation, Finance and Economic Development Committee Recommended Favorably  Action details Meeting details Not available
2/28/20190 Taxation, Finance and Economic Development Committee Recommended FavorablyPass Action details Meeting details Not available
2/7/20190 City Council President Refer to Dept. of Housing and Community Development  Action details Meeting details Not available
2/7/20190 City Council President Refer to Baltimore Development Corporation  Action details Meeting details Not available
2/7/20190 City Council President Refer to Dept. of Finance  Action details Meeting details Not available
2/7/20190 City Council President Refer to Board of Estimates  Action details Meeting details Not available
2/7/20190 City Council President Refer to City Solicitor  Action details Meeting details Not available
2/7/20190 City Council President Refer to Dept. of Planning  Action details Meeting details Not available
2/4/20190 City Council Assigned  Action details Meeting details Not available
2/4/20190 City Council Introduced  Action details Meeting details Not available
2/4/20190 Taxation, Finance and Economic Development Committee Scheduled for a Public Hearing  Action details Meeting details Not available
Explanation: Capitals indicate matter added to existing law.
[Brackets] indicate matter deleted from existing law.

* Warning: This is an unofficial, introductory copy of the bill.
The official copy considered by the City Council is the first reader copy.
Introductory*

City of Baltimore
Council Bill

Introduced by: The Council President
At the request of: The Administration (Department of Finance)

A Bill Entitled

An Ordinance concerning
title
Yield Excise Tax - Tax Rates
For the purpose of amending the tax rates used to calculate the Yield Excise Tax imposed on the tax yield from transactions for which recordation taxes and transfer taxes are due under City Code Article 28, Subtitle 16 and Subtitle 17, respectively; and providing for a special effective date.
body

By repealing and reordaining
Article 28 - Taxes
Section 17.1-2
Baltimore City Code
(As enacted by Ordinance 18-215)

Section 1. Be it ordained by the Mayor and City Council of Baltimore, That the Laws of Baltimore City read as follows:

Baltimore City Code

Article 28. Taxes

Subtitle 17.1. Recordation and Transfer Taxes - Yield Excise Tax

ยง 17.1-2. Transactions assessed; Tax rate.

(a) Transactions assessed.

The Yield Tax shall be assessed on those transactions whose value exceeds $1 million, as determined by Subtitles 16 and 17 of this article for the purposes of calculating the recordation and transfer taxes respectively.

(b) Tax rate.

The rate of tax shall be as follows:


(1) [0.15%] 15% on the amount collected under Subtitle 16 of this article; and

(2) [0.6%] 40% on the amount collected under Subtitle 17 of this article.

Section 2. And be it further ordained, That the catchlines contained in this Ordinance are not law and may not be considered to have...

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