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266
STATE OF MARYLAND
Receipts from Taxes on Insurance Companies
For the Fiscal Year Ended June 30 1972
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COLLECECTED
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BY:
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Unsatisfied Claim
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Total
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State Insurance
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and Judgement
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Motor Vehicle
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Division
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Fund Board
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Security Fund
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Gross Receipts...........................................................
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$26731239.10
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$23707908.46
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$ 3023330.64
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*
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Less Refunds....................................................
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34.91
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34.91
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Net Receipts..............................................................
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$26731204.19
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$23707873.55
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$ 3023330.64
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Allocation of Net Receipts:
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General Fund Revenue...........................
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$23703279.02
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$23703279.02
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Special Fund Attainment:
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For Administration Expenses............
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373721.29
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$ 373721.29
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Transferred to Reserve......................
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4594.53
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4594.53
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Non Budgeted Fund Cash....................
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2649609.35
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2649609.35
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$26731204.19
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$23707873.55
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$ 3023330.64
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* During the 1971 Session of the Maryland General Assembly House Bill No. 529 was enacted and approved by the
Governor provided that the Motor Vehicle Security Fund will be phased out of existence as the current funds are deleted
and its functions shall be assumed by the Maryland Insurance Guaranty Association. Therefore insurance companies
writing automobile coverages were not required to pay into the Fund. There were administrative expenses of $7845
charged to the cash balance for this fiscal year.
STATEMENT B—13
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