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Session Laws, 1941
Volume 582, Page 839   View pdf image (33K)
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HERBERT R. O'CONOR, GOVERNOR. 839

by the said Company, its successors and assigns, from all
State taxes and charges, and from all county and city
taxes and charges in the nature of a tax for the years
during which the property is so used but not exceeding
four years beginning January 1, 1941, provided that if
said railroad property should earn a net income during
either of said years, the said Company, its successors and
assigns shall pay as a tax an amount equal to all of said
net income so earned during said year or years in lieu
of said taxes and other charges, but not exceeding the ag-
gregate of said taxes and other charges.

WHEREAS, The Washington, Brandywine and Point Look
Out Railroad Company has not earned its operating charges
in recent years, and it is of the utmost importance for the
welfare of the State and particularly those parts of the
Counties of Prince George's, Charles, St. Mary's, Anne
Arundel and Calvert served by the said railroad thai; the
operation thereof be continued; and

WHEREAS, It is in the judgment of the General Assembly
of Maryland, a wise and sound public policy to encourage
the continued operation of the said railroad by the exemp-
tion herein provided; therefore

SECTION 1. Be it enacted by the General Assembly of
Maryland, That the railroad property of the Washington,
Brandywine and Point Look Out Railroad Company, or so
much thereof as may be used for railroad purposes by the
said Company, its successors and assigns, be exempt from
all State taxes and charges, and from all county and city
taxes and charges in the nature of a tax for the years dur-
ing which the property is so used, not exceeding four years
beginning January 1, 1941, provided that if said railroad
property should earn a net income during either of said
years, the said Company, its successors and assigns shall
pay as a tax an amount equal to all of said net income so
earned during said year or years in lieu of said taxes and
other charges, but not exceeding the aggregate amount of
said taxes and other charges.

SEC. 2. And be it further enacted, That this Act shall
take effect June 1, 1941.

Approved May 26, 1941.

 

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Session Laws, 1941
Volume 582, Page 839   View pdf image (33K)   << PREVIOUS  NEXT >>


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