HARRY HUGHES, Governor                                1917

(3) (I) [As] SUBJECT TO SUBPARAGRAPH (II) OF
THIS PARAGRAPH, AS often as practicable but not less
frequently than every calendar quarter the Comptroller shall
pay over and distribute to the incorporated municipalities
of the State the respective amount to which they may be
estimated to become entitled under the provisions of §
323(a) of this article, and to the counties of the State and
to Baltimore City the respective amounts to which they may
be estimated to become entitled under the provisions of this
section which have been received in the form of withholding
and estimated taxes paid.

(II) THE [Provided, however, that for all
calendar years beginning after December 31, 1969, and
thereafter the] Comptroller shall, [prior to] BEFORE the
last day of the State fiscal year, pay over and distribute
to the appropriate local fiscal authority of the counties
[of this State] and to Baltimore City the respective amounts
to which they may be estimated to become entitled under the
provisions of this section which have been received in the
form of withholding taxes paid on a monthly basis for the
months of April and May in accordance with § 312(h)(2) of
this subtitle.

(4)  In determining each subdivision's prorated
share of the cost of administering this subtitle, the
Comptroller shall apportion the cost of operating the Income
Tax Division in the ratio which the collections of each
political subdivision and the State bear to the total
collections under this subtitle.

(5) (I) The political subdivisions of the State
are authorized to adopt the accrual method for reporting
revenues for purposes of preparing and revising any of their
annual budgets[, commencing with the budget for the fiscal
year ending June 30, 1974].

(II)  With respect to any political
subdivision that adopts the accrual method for such
purposes, the Comptroller, upon request of the fiscal
authorities of [such] THE political subdivision, shall
estimate the political subdivision's share of the income tax
for the month of June based on the accrual method and shall
certify the same to the political subdivision by April 15th
[except that the certification for June, 1974, shall be made
as soon as practicable].

(III)  The amount accrued by the political
subdivision for the month of June in the fiscal year for
which the accrual is made shall not exceed the amount so
certified by the Comptroller.

(6)  PRINCE GEORGE'S COUNTY MAY NOT REQUIRE ANY
REFUND OF OVERPAYMENTS:

(I) IF AN INCORPORATED MUNICIPALITY
RECEIVED OVERPAYMENTS UNDER § 323(A) OF THIS ARTICLE; AND