MARVIN MANDEL, Governor

7

Section 49C

Annotated Code of Maryland

(1975 Replacement Volume)

BY repealing and re—enacting, with amendments,

Article 81 — Revenue and Taxes

Sections 150, 280(b), 280A(b) and (c) , 312 (h)(2),

433, 434 and 460
Annotated Code of Maryland
(1975 Replacement Volume)

Preamble

WHEREAS, House Bill 855 as enacted by the Regular
Session of the 1975 General Assembly provided property
tax relief for elderly homeowners and funded the program
by increases in the tax on insurance premiums; and

WHEREAS, The Governor has announced his intention to
veto House Bill 855, because of the manner in which the
program is funded; and

WHEREAS, The General Assembly believes the property
tax relief as provided in House Bill 855 should become
effective for the 1975—1976 taxable year and has
requested the Governor to convene a special session to
consider a legislative program to provide such relief;
and

WHEREAS, The General Assembly finds that State
funded uniform property tax relief for elderly homeowners
is a critical program in times of inflation and that such
relief is urgently required and will be of meaningful
financial assistance to qualified elderly homeowners of
the State; and

WHEREAS, Many local governments have begun fiscal
planning and their fiscal 1976 budget preparation is
contingent upon receiving certain revenues which are
included in the State property tax credit program for the
elderly; now, therefore

SECTION 1. BE IT ENACTED BY. THE GENERAL ASSEMBLY OF
MARYLAND, That Chapter 750 of the Acts of the General
Assembly of 1974, be and it is hereby repealed.

SECTION 2. AND BE IT FURTHER ENACTED, That Sections
12D, 12F, 12F-1 and 12F-2 of Article 81 - Revenue and