2540 ARTICLE 62A

1929, ch. 275, sec. 7.

7. (Circumstances Under Which Article Becomes Void.) Except as
hereinafter provided, this Article shall become void and of no effect in
respect to the "Maryland Estate" of persons who die subsequent to the
effective date of the repeal of Title III of the "Revenue Act of 1926" or of
the provisions thereof allowing the "Credit."

1929, ch. 275, sec. 8.

8. (Amendments, Etc., to "Revenue Act of 1926.") If said Title III
of said "Revenue Act of 1926" shall be amended or if said title be repealed
and an Act (hereinafter referred to as substituted Act") enacted by Con-
gress imposing an estate, inheritance, succession and/or legacy tax in lieu
of the tax imposed by said Title III, then as to the "Maryland Estate"
of decedents affected by such amendment or by such substituted Act, the
terms as defined for the purpose of this Article by Section 1 hereof, shall
relate to the provisions of said Title III as amended, or of said substituted
Act, as the case may be, and the "Maryland Estate Tax" as to such Mary-
land Estates shall be computed, imposed and paid accordingly.

If said Title III of said "Revenue Act of 1926" is repealed and a sub-
stituted Act, as above defined, is enacted, then Section 7 hereof shall relate
to the repeal of such substituted Act. Said Section 7 shall also relate to
the enactment of any amendment, either to said Title III or such substi-
tuted Act, whereby the allowance of the maximum credit to the extent pro-
vided in said Title III or to any other extent, shall be finally repealed.

1929, ch. 275, sec. 9.

9. (Applicability of Sections 7 and 8.) The provisions of Sections 7
and 8 of this Article shall not he applied or construed so as to discontinue
or reduce the "Maryland Estate Tax" with respect to the "Maryland Es-
tate" of any "Decedent" dying prior to the expiration of the first year of
the period covered by any budget bill, passed by the General Assembly of
Maryland prior to the effective date of the Act of Congress, discontinuing
or reducing the "Federal Estate Tax," or the maximum credit allowable
thereupon, it being intended hereby that as to the "Maryland Estate" of
such "Decedents," the "Maryland Estate Tax" in effect immediately prior
to the passage of the Act of Congress discontinuing or reducing the "Fed-
eral Estate Tax," or the maximum credit allowable thereupon, shall con-
tinue in force without reduction; and in the event of the discontinuance
or reduction of the "Federal Estate Tax" or of the maximum credit allow-
able thereupon, the amount of the "Maryland Estate Tax" shall be com-
puted and imposed as to the "Maryland Estate" of such "Decedents"
dying after such discontinuance or reduction in the same manner as if
the "Federal Estate Tax" or the maximum credit allowable thereupon had
not been discontinued or reduced, and the said tax shall be paid within
one year from the date of the death of the "Decedent," and the Comptroller
shall make any regulations necessary to carry out this provision.

1929, ch. 275, sec. 10.

10. (Estates Affected.) (a) The provisions of this Article shall apply
to the "Maryland Estate" of all "Decedents" dying after September 30th,
1928.