Written By James R. Benjamin, Jr., Esquire email@example.com
The Maryland General Assembly ended its legislative session in April 2012 without passing proposed legislation that would have provided up to $200,000 of insurance for owners of residential rental properties facing lead paint lawsuits. Under this proposed legislation, to qualify for the insurance, property owners would have to pay an annual fee between $50 and $500 per rental unit, depending on the level of compliance with the state’s lead paint guidelines.
While many Baltimore City property owners supported the proposed bill, property owners in other jurisdictions in Maryland, who feel they have less exposure to potential lead paint suits, thought the annual fees per rental unit were too high. Accordingly, the General Assembly has called for a work group to study the proposed legislation. This work group will include attorneys and property owners as well as other interested representatives.