---
type: "Bill"
title: "Income Tax - Captive Real Estate Investment Trusts - Alterations"
description: "Income Tax - Captive Real Estate Investment Trusts - Alterations"
jurisdiction: "us/states/md"
legislature: "Maryland General Assembly"
session: "2023"
identifier: "SB 968"
citation: "Maryland SB 968 (2023)"
classification: ["bill"]
subjects: []
status: "enacted"
primary_sponsors: ["Elfreth", "King"]
version_count: 3
action_count: 17
vote_count: 0
first_action: "2023-02-28"
last_action: "2023-05-08"
source: "openstates"
source_identifier: "ocd-bill/e00a3960-e293-4ebc-ab50-95a655f11c93"
source_url: "http://mgaleg.maryland.gov/mgawebsite/Legislation/Details/sb0968?ys=2023RS&search=True"
source_hash: "ce50f10126114104aaa3d9346132a24026dd44fc73fb7eecc80a96cf1fd87d80"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-md"]
---

# Maryland SB 968 (2023) — Income Tax - Captive Real Estate Investment Trusts - Alterations

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **Chapter - Income Tax - Captive Real Estate Investment Trusts - Alterations** (committee substitute) — [source](http://mgaleg.maryland.gov/2023RS/Chapters_noln/CH_478_sb0968t.pdf)
2. **First - Income Tax - Captive Real Estate Investment Trusts - Alterations** (committee substitute) — [source](http://mgaleg.maryland.gov/2023RS/bills/sb/sb0968f.pdf)
3. **Third - Income Tax - Captive Real Estate Investment Trusts - Alterations** (committee substitute) — [source](http://mgaleg.maryland.gov/2023RS/bills/sb/sb0968t.pdf)

## Sponsors

- Elfreth — primary (person)
- King — primary (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2023-02-28** First Reading Senate Rules `referral-committee`
- **2023-03-08** Rereferred to Budget and Taxation
- **2023-03-09** Hearing 3/15 at 1:00 p.m.
- **2023-03-14** Hearing canceled
- **2023-03-14** Hearing 3/15 at 3:00 p.m.
- **2023-03-20** Favorable with Amendments Report by Budget and Taxation `committee-passage-favorable`
- **2023-03-20** Favorable with Amendments { `committee-passage-favorable`
- **2023-03-20** Second Reading Passed with Amendments
- **2023-03-22** Third Reading Passed `passage`
- **2023-03-23** Referred Rules and Executive Nominations `referral-committee`
- **2023-04-05** Rereferred to Ways and Means
- **2023-04-05** Hearing 4/06 at 1:15 p.m.
- **2023-04-10** Favorable Report by Ways and Means `committee-passage-favorable`
- **2023-04-10** Favorable Adopted Second Reading Passed `committee-passage-favorable`
- **2023-04-10** Third Reading Passed `passage`
- **2023-04-10** Returned Passed
- **2023-05-08** Approved by the Governor - Chapter 478 `executive-signature`

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/e00a3960-e293-4ebc-ab50-95a655f11c93`. Confidence: reported (aggregated from official Maryland legislature records).