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SB 704

Maryland Senate bill in Session 2026.

Status: enacted. Latest action: June 15, 2026.

Maryland Estate Tax – Qualified Agricultural Property – Transfer to Limited Liability Company.

Bill ID MD-2026-SB-704
Session 2026
Status enacted
Committee Budget and Taxation; Ways and Means
Senate enacted 2026-06-15
Tax / Budget / Appropriations
Summary

Authorizing, for purposes of determining the Maryland estate tax, a qualified recipient to transfer ownership of qualified agricultural property to a limited liability company; providing that qualified agricultural property transferred in accordance with the Act is not subject to estate tax recapture if the ownership of the company consists only of qualified recipients and the property is used for farming purposes for at least 10 years after the decedent's death; etc.

Sponsor
Senator Mautz
Official Source Back to Bills
Actions Timeline
Date Event Detail
2026-02-06 Introduced Bill introduced
2026-06-15 Status enacted
2026-06-15 Latest Action Approved by the Governor - Chapter 551
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