Maryland Codification and Usury Debate Sparks Tax Fears
A Maryland legislative history reveals a 1852 codification provision now blamed for today’s financial strain. Critics argue the clause creates unequal tax power between mortgage and promissory note lenders, triggering calls for scrutiny of the old reform and its constitutionality.
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Maryland
Mortgage Exemption Sparks Maryland Taxation Debate
A Maryland senator argues mortgage exemption in the code is inequitable and unconstitutional, urging repeal. He warns that keeping mortgages tax free shifts government costs to laborers and threatens the state's financial stability, calling for a broad repeal and noting historical bonds and duties tied to prior acts.
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