Md. Code Ann., Tax-Prop. § 7-221
Institutions subject to franchise taxes
Effective Jan 1, 2001Added by Acts 1985, c. 8, § 2, eff. Feb. 1, 1986. Amended by Acts 1992, c. 22, § 1; Acts 1995, c. 127, § 3, eff. July 1, 1995; Acts 2000, c. 225, § 2, eff. Jan. 1, 2001.State of Maryland
(a) Personal property is not subject to valuation or to property tax, if the personal property is owned by:
- (1) a financial institution as defined in § 8-101(c) of the Tax-General Article other than a savings and loan association as defined in § 7-221.1 of this subtitle; or
- (2) a federal or State chartered credit union.
- (b) This exemption does not include any personal property that is leased, loaned, or made available by the institution for the use of a person whose business is not that of the institution.
Added by Acts 1985, c. 8, § 2, eff. Feb. 1, 1986. Amended by Acts 1992, c. 22, § 1; Acts 1995, c. 127, § 3, eff. July 1, 1995; Acts 2000, c. 225, § 2, eff. Jan. 1, 2001.
Formerly Art. 81, § 9A.