Sale of Residential Property - Taxes and Offers to Purchase (End Hedge Fund Control of Maryland Homes Act of 2025)

SB 582 imposes an excise tax on certain entities (like hedge funds or large investors) that acquire or own more than 3% of single-family homes in a Maryland county. It requires sellers to accept offers from individuals, community development organizations, nonprofits, or smaller real estate businesses during the first 30 days of listing. The tax revenue funds a new Down Payment and Settlement Expense Loan Program to help eligible homebuyers cover purchase costs. The bill also modifies state transfer tax rates for specific residential sales and creates a nonlapsing fund managed by the state treasurer. It directly affects large-scale residential property investors, sellers, and homebuyers seeking financing assistance.