HARRY HUGHES, Governor

3351

CHAPTER 552

(Senate Bill 797)

AN ACT concerning

Memorial Stadium Seating and Field Facilities Loan of 1980

FOR the purpose of amending Chapter 529 of the Acts of 1980,
to provide for and alter the periods in which certain
deductions and transfers shall be made by the
Comptroller, and to provide a method to calculate the
amount of those deductions and transfers in certain
circumstances. circumstances; extending the time within
which the project must be placed under contract or
certain funds must be allocated; and generally relating
to the Memorial Stadium Seating and Field Facilities
Loan of 1980.

BY repealing and reenacting, with amendments,

Chapter 529 of the Acts of the General Assembly of 1980
Section 1(5)

BY adding to

Chapter 529 of the Acts of the General Assembly of 1980
Section 1(9)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That chapter(s) of the Acts of the General
Assembly read(s) as follow(s):

Chapter 529 of the Acts of 1980

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That:

(5) (A) In each of fifteen consecutive years
commencing ON THE FIRST July 1[, 1981] FOLLOWING EACH
AUTHORIZATION BY THE BOARD OF PUBLIC WORKS OF AN EXPENDITURE
PURSUANT TO THIS ACT, the comptroller of the Treasury shall
deduct the [sum of $800,000] AMOUNT DETERMINED IN SUBSECTION
(B) from amounts due to Baltimore City from the Admissions
and Amusement Tax in equal quarterly installments, which
amounts shall be transferred to the Annuity Bond Fund for
partial payment of the principal of and interest on the
Loan. In the event that the professional sports team known
as the Baltimore Orioles or its successor moves to a
location within Maryland that is outside the corporate
limits of Baltimore City, the [$800,000] deduction from
Baltimore City shall be reduced [to $400,000 and the sum of
$400,000] BY ONE-HALF. THE BALANCE OF THE AMOUNT DETERMINED